Peeplog

US inflation sees surprise fall

What are the causes and ramifications of this?

Underlying US inflation hits its lowest level for nearly 38 years, making the prospect of an early rise in interest rates less likely according to the BBC News in December

Down, down dollar! But what are the price elasticities of exports and imports? And if relative inelastic what are the consequences? How is the deficit financed?

Marian Miller circulated the following

Marian Miller circulated the following to law and social Sciences:

You can search through the complete digital edition of The Times (London), using keyword searching and hit-term highlighting to retrieve full facsimile images of either a specific article or a complete page. The entire newspaper is captured, with all articles, advertisements and illustrations/photos divided into categories to facilitate searching.  A useful database feature also allows page locations to be saved, enabling persistent URLs that can be bookmarked for future reference;  for copying into an electronic mail message; onto a Web page or for use in Blackboard. The service is available both on & off campus through Athens Authentication Please let me know if you require more information about this service.

Regards Marian

Marian Miller Academic Liaison Librarian (School of Law & Social Sciences: School of Life Sciences) & Electronic Resources Manager Learning Services Glasgow Caledonian University Tel: 331-3862 email: mmi@gcal.ac.uk

The 'Japanese Model' has not gone away

Japan: Refutation of Neo-liberalism

A useful piece by Robert Locke returns to the argument that Japan offers a version of a political economy which is both different and successful. There is an alternative which may offer partial models for customised adoption elsewhere.

How is Germany doing?

Germany leads eurozone factories according to a survey reported by the BBC.

Manufacturing in Europe is continuing to expand, with Germany - once the worst performer on the continent - leading the way, a new survey says.

The eurozone Purchasing Managers' Index (PMI) issued by Reuters, showed growth in December in the 12-nation eurozone's eight biggest manufacturing economies.

The index showed the best level since January 2001.

But factories remain reluctant to boost hiring, the survey indicated, while the strong euro is still hitting exports.

The jobs index stayed at a level which indicates contraction rather than expansion, for the 31st month in a row.

Differences The PMI survey measures manufacturing activity in Austria, France, Germany, Greece, Ireland, Italy, the Netherlands and Spain.

Between them, the eight nations account for more than 90% of the eurozone's manufacturing...

Germany's performance was one of the key drivers in the continued health of manufacturing, the survey said, with more output and an improving list of new orders.

What is 'conservatism'? Is this it...?

Michael Howard has provided a list of beliefs on which the Conservatives will fight the next election.

These are useful in helping us to sort out 'economic ideologies'. In terms of traditional definitions of ideology are these 'conservative' or are they 'liberal'? To decide this we might take each one and ask what position a 'traditional conservative' would take in relation to them. And perhaps what position Tony Blair would take? and a traditional 'socialist'?

Record UK spending on credit cards..

The BBC reports record spending on credit cards. Does it matter? And what is the role of the Bank of England "Monetary Policy Committee" in relation to the 'management of the economy'...

Here is what the BBC says:

Consumers now owe a collective total of £52.92bn on credit cards.

The UK central bank raised interest rates by a quarter-point in November - from a 48-year low of 3.5% - largely because it was concerned that debt and house prices were rising too fast.

The combination of rising debts and rising interest rates has led some experts to warn that personal bankruptcies will also rise.

However, the latest figures show that, while borrowing is still on the rise, more repayments were also being made.

The Bank's Monetary Policy Committee is due to hold its first interest rate meeting of the year next week, but is widely expected to leave borrowing costs unchanged.

However, many analysts believe a further rise in the cost of borrowing is likely, possibly as early as February.

From: BBC NEWS | Business | Asian markets start 2004 on high

"Asian markets start 2004 on high" reports the BBC. How are stock markets related to 'the underlying real economy'? Are they a good measure of economic performance? For example do they have a direct relationship to industrial output and sales (such as the motor industry) as this report suggests?

The gains come after what was a bumper year in major stock markets in 2003, with the Tokyo Nikkei registering its first annual gain in four years.

Markets were closed in Japan, the Philippines, Thailand and New Zealand for the continuing New Year public holiday.

One factor in the bullish mood was the lack of big attacks in Western countries, following warnings from security services that the end-of-year holidays might have been targeted.

But local factors play a part too, with predictions that Asian carmakers, for instance, are in for a bumper year in export terms.