Stefan Karlsson

Ekonomiczny blog profesora makroekonomii ze Szwecji.Opinie autora blogu nie powinny być utożsamiane z oficjalnym stanowiskiem NBP w omawianych kwestiach.


Stefan Karlsson - Artykuły

M2 Rise Above $10 Trillion

Stefan Karlsson / 31-07-2012
I personally prefer MZM as a measure of money supply in the U.S., and the fact that the movement was across a certain nominal threshold is of mostly symbolic nature, but it is still interesting that M2 rose above $10 trillion this week for the first time ever. M2 is up by 8.7% the latest year. [...]

France-The Country Of The 49 Employee Firms

Stefan Karlsson / 09-05-2012
One interesting fact is that France has 2.4 times as many companies with 49 employees as with 50. Why? Because once a company reached 50 employees they must initiate profit sharing, create “worker councils” and submit restructuring plans to these councils if they decide to fire workers for economic reasons. The economic damage from these rules is [...]

Why North Dakota Is Booming-And California Isn’t

Stefan Karlsson / 27-02-2012
Simple answer: California has restricted oil production for environmentalist reasons while North Dakota hasn’t, as this article discusses. An excerpt: How did North Dakota pull it off? Oil production has driven the recent boom. Drilling restrictions in Alaska, the Gulf of Mexico, and even Canada have given North Dakota an opportunity to expand its oil industry [...]

Euro Oil Price Back To 2008 Peak Levels

Stefan Karlsson / 21-02-2012
Oil prices have recently risen, in part because of inflationary monetary policies and in part because the supply of oil from Iran is falling as the U.S. and the EU targets it with sanctions and as Iran has stopped deliveries to Europe even before the sanctions were formally implemented. With the WTI oil price at around [...]

Significant Progress In Portugal & Italy-But Not In Greece

Stefan Karlsson / 20-02-2012
What the debt crisis is ultimately about is the fact that in certain Southern European countries people are spending too much compared to what they earn. With regard to this we are seeing significant progress in Portugal and Italy-but not in Greece. In Portugal, the current account deficit in December fell from €17.2 billion in 2010 [...]

Expansionary Austerity In America?

Stefan Karlsson / 07-02-2012
With both the manufacturing and the non-manufacturing surveysindicating increased expansion and with construction spendingand employment increasing, it seems clear that the U.S. economy has started to go from the “”recovery” that feels like a continued recession for most people” state it has been in since the summer of 2009 to something resembling a real recovery, though still nowhere near [...]

Stephen Harper’s Pro-Growth Agenda

Stefan Karlsson / 30-01-2012
To boost economic growth in Canada, Prime Minister Stephen Harper will: -Limit government spending. -Make immigration policy more focused on immigrants that contribute to the economy. -Increase free trade. -Reduce regulatory delay for mines and energy production, thus increasing output of it.

China’s Economy To Surpass America’s By 2020-Or Earlier?

Stefan Karlsson / 27-01-2012
According to preliminary estimates, China’s GDP in 2011 was 47.156 trillion yuan, which at the current exchange rate of 6.3138 translates into roughly $7.47 trillion. By comparison, tomorrow’s GDP report for the United States will likely show that 2011 GDP was roughly, or slightly over $15 trillion. That means that China’s economy is now nearly half [...]

Why Debt Downgrade Matters Even Though It Shouldn’t

Stefan Karlsson / 19-01-2012
Given the fact that bond yields of most of the euro area countries that were downgraded by Standard & Poors actually fell (contrary to what one might expect), similar by the way to how U.S. treasury yields dropped after they got downgraded by S&P, one can ask if S&P and other credit rating agencies have [...]

The Myth Of Machines Causing Unemployment

Stefan Karlsson / 09-01-2012
Despite a modest recovery the last few months, the U.S. labor market remains depressed as this chart over the employment to population ratio illustrates. Now again the myth that this is caused by machines displacing human workers resurfaces. Yet if that was true then productivity growth would have increased, whereas in reality it has decreased from the [...]


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