asterisk2a + r&d + confidence + macroprudential   2

Beware the Minuses of Negative Interest Rates
Whether sub-zero interest rates actually work is open to debate, however. So says Richard Koo, the chief economist of the Nomura Research Institute. “In my view,” he writes, “the adoption of negative interest rates is an act of desperation born out of despair over the inability of quantitative easing and inflation targeting to produce the desired results.” The failure of the BOJ and the ECB to meet their inflation and growth goals is shared by the Federal Reserve and the Bank of England. None of these central banks understand that their textbook solutions don’t fit the real economy, Koo asserts. [...] And on a more practical level, why corporations sit on record hoards of cash (taxes aside). [<< macro prudential policy ] //&! “When no one is borrowing money, monetary policy is largely useless.” [...] Keynes was right and (Milton) Freidman was wrong. - bit.ly/1Kl07Ri & There is no Confidence Fairy //&! fam.ag/1ogOOiM & bit.ly/1LpJL4W & bit.ly/1VgSjAB & bit.ly/214Icm3 & bit.ly/1Kl228n
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february 2016 by asterisk2a
UK productivity lags behind rest of G7 - BBC News
"Since the economic downturn, productivity growth has slowed in most developed economies, but by more in the UK than the average." The Chancellor, George Osborne, pledged in July to take steps to encourage more long-term investment in infrastructure and by businesses to boost productivity. Howard Archer, chief UK economist at IHS Global Insight, said British productivity had been held back since the financial crisis by the creation of lots of low-skilled, low-paid jobs where productivity is limited. However, Institute of Directors chief economist James Sproule said that UK firms should focus on "agility" rather than productivity. "The economy of the future looks set to be dominated not by big companies, but by fast, agile, quick-moving and reactive ones," he said. "The firms that can respond to consumer demands most effectively and bring new products and services to market will reap the rewards."
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september 2015 by asterisk2a

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