Macro meets Tech The past 10 years have seen the maturation and eventual bursting of the market bubble, followed by a financial crisis, which led to an economic recession widely perceived to be still ongoing. The unprecedented amount of economic stimulus on both the monetary and fiscal sides, produced what many see as a less … Continue reading Economics of Knowledge Economy
Tag: Macro
Monetary policy in the XXI century
The original note was published in Russian as “Зачем капитал экономике знаний” in Vedomosti on 26 April 2016. *** On March 10th the European central bank announced a new round of monetary policy easing. The regulator lowered the interest rate - the traditional instrument to manage the money supply, and also increased the size of the … Continue reading Monetary policy in the XXI century
Too much of a good thing – alternative explanation
In a recent article The Economist explores the reasons for extraordinarily high profitability in the corporate America and concludes that it is due to rising monopolisation of America Inc. This note provides an alternative explanation. Post-industrial capitalism of the XXI century is featuring a shift from capital, as the key production factor, to knowledge. Establishment of … Continue reading Too much of a good thing – alternative explanation
Deflation miscalculation
Is official GDP growth statistics an adequate measure of the impact the technology has had on the economy? The effect of the technological progress of the late XX - early XXI centuries on our lives has been tremendous. At the same time, the official measures of the economic performance such as GDP growth statistics hardly … Continue reading Deflation miscalculation
American Renaissance
The recent volatility on the financial markets is not your typical market volatility. In my view it is rather indicative of the ongoing shifts in the global economy. Some emerging market economies face structural challenges on their growth trajectories, whereas USA may be facing another dawn. The list of problems typically associated with the US … Continue reading American Renaissance
Energy, Tech, Macro 