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Similar levels of income inequality may be characterised by completely different distributions of capital and labour. People who belonged to the highest income decile in the US before WWII received mainly capital incomes, whereas in…
This is the time of year when firms trot out their annual Year in Preview outlooks. These are counter-productive exercises for investors. First off, most are little more than guesses. I mean that literally…
By Lambert Strether of Corrente. Bird Song of the Day #COVID19 At reader request, I’ve added this daily chart from 91-DIVOC. The data is the Johns Hopkins CSSE data. Here is the site. Case count…
Yves here. I am sure readers will have more to say about this article on rapid Covid tests, as in antigen tests, which require a non-traumatic swab of both nostrils (the PCR tests are the…
Liquidity Risk at Large U.S. Banks NBER. “For 2019 Q4, the revised tests suggest it is unlikely that any of the six banks would survive a liquidity crisis for 30 days. This negative finding is…
A fresh wave of bank failures and mergers are set to trigger a new round of consolidation of the Eurozone’s banking system. The ECB has a dream: to unleash a whirlwind of consolidation across the…
While I am normally loath to anchor a post in a personal anecdote, yesterday’s case study might encourage readers to discuss their experiences with information overreach and what strategies have proven to be successful in…
Yves here. This interview with Peter Carter on climate changes targets highlights the damage done by William Nordhaus, who advocates a 3 degrees Celsius increase as optimal. For a definitive shellacking, see Steve Keen. The…
Using regulation to dismantle pyramidal business groups: Evidence from the US, Japan, Korea and Israel Large business entities are often perceived as valuable players in the economy and the product of bold entrepreneurship and disruptive…
Gilbert Cette, Jimmy Lopez, Jacques Mairesse, Giuseppe Nicoletti 02 December 2020 The COVID-19 crisis has highlighted the importance of swift reorganisation of tasks and logistics in cushioning economic shocks. For instance, the ability to rapidly…