Mittwoch, 16. April 2014

2 Funde aus der FT

GP and BIP.

In einem Beitrag in der FT schreibt J. Stark darüber, wie froh er über die niedrige Inflation im Euroraum ist:
"[...] Yes, inflation is low in the eurozone. But is it too low? Indeed, has it even reached dangerously low levels that would justify widespread concern about imminent deflation? There are no signs of deflation at the eurozone level. Only a few members have experienced negative inflation rates, mainly because of the ongoing and unavoidable adjustment process in relative prices in these countries. According to the IMF, Greece alone will register an inflation rate that is slightly negative in 2014.

It is likely we are living in an extended period of price stability. This is good news. It boosts real disposable income and will eventually support private consumption. Inflation expectations are well anchored, and there is no evidence households and companies are delaying purchases because of negative expectations. Warnings about outright deflation and calls for ECB action are misguided and irresponsible. [...]

No further action by the ECB is required. [...]"

" [...] Few universities now offer such a course [about national income accounting]. They have responded, or pandered, to student preferences, and the economics curriculum has moved on. Not necessarily in a good way; national income accounting remains central to economic statistics, and hence to economic policy, but is no longer well understood. [...]"

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