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UK needs to combine QE2 with credit easing

The Bank of England's decision to resume quantitative easing through a further £75bn of asset purchases is a necessary step forward in an economy in which the outlook for private, government and foreign demand is bleak. In order for the move to have a...

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Topical issues in Macroeconomics

I am currently giving a short course for summer school students at Oriel College. The lectures address recent important events in the world economy and the challenges that they pose for policy-makers. The topics include some thoughts on fiscal policy...

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Would QE3 support economic recovery?

There have been a number of recent contributions making the case for QE3 in the United States following weak employment and GDP numbers. Recent market reactions to Bernanke's efforts to distance the Fed from a further round of quantitative easing prompted...

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Future posts

I will not be doing any posts for the next few weeks due to various teaching commitments. During the second half of May I plan to write up some thoughts on (i) the UK fiscal position, including some arguments for reducing the speed of fiscal tightening;...

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