Reposted by Edu Espuny
It has become received wisdom in Brussels and Washington that there is a new “euro-sclerosis”: that the EU economy is lagging the US
This view is wrong
A little primer on the measurement of productivity – and why reports of the economic death of Europe are greatly exaggerated🧵
This view is wrong
A little primer on the measurement of productivity – and why reports of the economic death of Europe are greatly exaggerated🧵
December 12, 2025 at 12:32 PM
It has become received wisdom in Brussels and Washington that there is a new “euro-sclerosis”: that the EU economy is lagging the US
This view is wrong
A little primer on the measurement of productivity – and why reports of the economic death of Europe are greatly exaggerated🧵
This view is wrong
A little primer on the measurement of productivity – and why reports of the economic death of Europe are greatly exaggerated🧵
Reposted by Edu Espuny
Consistent with models of extrapolative expectations, rate hikes reduce prices and investor demand more sharply in overpriced markets, underscoring the stabilizing role of monetary policy, from Nina Biljanovska, Eduardo Espuny Diaz, Amir Kermani, and Rui C. Mano www.nber.org/papers/w34404
October 30, 2025 at 3:02 PM
Consistent with models of extrapolative expectations, rate hikes reduce prices and investor demand more sharply in overpriced markets, underscoring the stabilizing role of monetary policy, from Nina Biljanovska, Eduardo Espuny Diaz, Amir Kermani, and Rui C. Mano www.nber.org/papers/w34404