Friday, November 21, 2008

Interesting Picks

Chart of the day: Mankiw's puzzle

The week in pictures from Econompicdata

Really good one-page summary of the financial turmoil.

I talked about the switch to low-cost retailers and the lipstick index before, but apparently, a relatively new finance web site allows the consumer to track frugalizing at the micro level.

I just came across a leading indicator for euro-area GDP.

Surprise surprise: A recent paper shows sliced and diced loans suffered from moral hazard and adverse selection.

Dani Rodrik reports on a new survey on the role of international finance on growth.

Soon after I had voiced my concern regarding TIPS as a deflation indicator, I get support from Felix Salmon, who summarizes his conversation with a TIPS expert.

And speaking of TIPS, interesting take on Robert Barro (via Greg Mankiw) on the relationship between Treasuries and TIPS.

A couple of really interesting papers from the IMF: First, since he beat me to it, Zubin Jelveh catches the gist of a new IMF paper by highlighting that counterparty positions imply losses from OTC derivatives exceed USD 1,500bn. Second, an IMF paper on the US current account deficit and the dollar concludes that needed decline in the US trade deficit could be achieved with only a modest exchange rate depreciation.

Pedagogical piece on the financial turmoil- great read for a class.

New research shows that financial dependence (a la Rajan& Zingales) explains for 2/3 of the variation of employment across firms. No wonder then the dismal US employment figures during the ongoing credit strains.

Given there are bound to be an increase in bankruptcies across the globe, we might want to where closing down will be relatively easy. Simeon Djankov summarizes World Bank Doing Business research on the issue.

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