blog I saw the teacher and Economist Greg Mankiw where interantes always find items ...
Friday, December 22, 2006
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Tuesday, December 12, 2006
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I walk away from the media -Because of love and hate is full of web-to approach to economic analysis and tell you a fact that looked after the 31 years that have passed I find interesting.
For this, I share with you the complete text of the historic letter he sent Milton Friedman to Pinochet on April 21, 1975, after visiting for a week to Chile. She appears, certainly in English on the memoirs of Milton and Rose Friedman entitled "Two Lucky People." While I got my e-mail, I find the blog Marta is also on this site .
After reading that letter will agree with me that some recommendations made by Friedman are worthy of rescue, as they reflect like a mirror the way that is touring the Chilean economy today:
- "The cause of inflation in Chile is very clear: public expenditure. Chile, should reduce the fiscal deficit." fiscal surplus.
- "Stop, in the case of persons to be employed, the current law that prevents the firing of workers. This law creates unemployment. Labor Flexibility.
- "Liberalization of international trade to provide effective competition for Chilean companies and increase the welfare of ordinary Chileans. Free Trade Agreements.
- "But to seize this opportunity, Chile must first overcome a very difficult period of transition." Democracy.
Sunday, December 3, 2006
Varicose Veins Are Hot??
For those who read his books or seen the film once it is a good chance to review their theories. And to whom Friedman is just a name in economic page of a newspaper, this is the opportunity to meet him. An entertaining and easy-the recently deceased liberal economist explains each of its ideas.
However, if English is not your forte, do not worry, there is an option in English. Give it a try, especially the history of the pencil, a classic economics classes.
Tuesday, November 14, 2006
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In case you thought to go for more, or found that his salary was too low, I leave this link. Be surprised to see the position you occupy in the global ranking of wealth. But not only that. Visit web cha di given the opportunity to demonstrate the level of poverty in the world. Changing any paradigm.
Try doing some simple calculations for you to make interesting conclusions :
True, a dollar a day can be at 9% poorer.
Chile ($ 135,000 per month) you are part of 15% higher income.
And with a monthly salary of $ 2,000,000 is from 1.7% of the world's richest people.
To not believe it!
an initiative CARE International, a humanitarian organization that promotes the reduction of the gap between rich and poor.
Tuesday, October 31, 2006
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The Bank of England announced that next year will enter circulation a new ticket £ 20.
to hither is nothing very new.
However, this news may learn three interesting facts:
- The makeover will for the first time a Scotsman an English banknote.
No doubt Adam Smith is not without merit to be on a ticket, but how many people share his assumptions, how many will remember his contribution to the economy?.
Note:
Noting this, the English Bank prepared a brief summary with their contributions.Friday, October 27, 2006
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Much of the world's population at the expense of more debt, regardless of the cost of credit, term, the ability to pay or the relevance of the property being purchased. Whatever. Favourable credit conditions allow it.
The lower cost of money, substitute products that compete aggressively and ease of access to credit with less demanding standards to get are ones that make us realize the dream of a higher purchasing power. Thus, the household debt has not stopped growing.
During this year in Chile , there was an increase of over 15% of bank consumer loans (Sept. 2006). And that's without considering that from 1999 to date there has been a sharp decline in the participation of banks in the market for consumer credit. In the traditional supply of bank consumer loans, has joined a growing volume of loans granted by commercial houses, supermarkets, insurance, compensation funds and credit unions, among others. Today, non-bank credit providers meet 34% of demand, in contrast to 27% in 1999.
Similarly, the escalation in the use of credit cards by different institutions, both banking and non-banking as a means to channel consumer loans, are the other leaders that thousands of families (thousands of thousands, perhaps) suffer from excessive debt. While both types of suppliers of credit have increased significantly the number of cards issued, non-bank issuers show a greater increase and greater participation, close to 73%.
Finally, to give more back if the outlook for 2007 looks the same. And if you're drowning in debt as the great majority of Chileans, I leave a fun video. And remember:
Buy, buy that the world is going to end ..... but in cash. How?. Watch the video and then talked.
Monday, October 23, 2006
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Construction and Real Estate made their worst predictions: falling prices, slowdown and lower profits. Thus increasing the likelihood of the housing bubble burst.
Hence the surprise when the current data. Something similar happens in Spain awaited where the explosion would be slow in coming. Meanwhile, people trying to predict the future of the most unexpected. Where anything goes, so Google Trends , to avoid being at the epicenter when the bubble bursts and prices drop.
is that nobody wants to repeat the history of Tokyo where home prices fell steadily for 12 years or the Shanghai during January when the real estate agents were dropped by almost two thirds its revenue from sales commissions. Or what is beginning to happen now Sydney, where homes in some suburbs are suffering setbacks around 10%. Or, as one might expect to happen in India , which currently would be fully in rising prices.
Whatever the case, history has taught us that economic bubbles are distinguished when the puncture occurred, not before. Which accentuates more their painful effects, as explained Yoshihisa Nakashima: his department now worth half what it paid 14 years ago during the housing bubble that hit Tokyo in 1991.
The genesis of a phenomenon
A bubble rests at low interest rates, which provide access to cheap credit. Lured by such attractive rates, people enter the housing market energize the construction industry (which is known to have multiplier effect on the economy).
This leads to higher consumption multiplier effect soon shot raises fears of inflation, creating a state of alert in the economic authority. Remember that the best way to cool the consumer is to restrict the amount of money circulating, which is achieved with a higher cost of borrowing. Then the authority begins to raise interest rates.
What happens then?. In some cases, disastrous.
Existing home sales are stagnant, they begin to make sales and the owners note that the value of your home drops below the debt owed on that same property. As suddenly as they had arrived, capital go. Everyone is out of the market, while the ads "For Sale" begin populating the city and announced the outbreak of the Housing Bubble is felt.
Friday, October 20, 2006
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A blog to visit the weekend
Then I found out:
- Major gain from the sale of YouTube .
Have a good weekend .....
Wednesday, October 11, 2006
Can I Get Pleurisy Twice
Phillips curve was made from a study made in England in the nineteenth century which found a negative correlation between unemployment and inflation. D ince then the Phillips curve suggests that it is impossible to simultaneously achieve a high level of employment and low inflation as the government's economic policy has to decide on a combination of two rates.
This is explained as follows: when in charge of monetary policy in a country want to achieve a lower unemployment rate must be willing to accept higher inflation, and that to achieve the first ( reduce unemployment) the formula requires stimulating the economy through low interest rates that generate increased consumption, increased production and thus greater use .... but also higher inflation. Because the closer to full employment is an economy less option is to increase production to a greater demand ... and the solution is to increase prices.
However, in the sixties Phelps, along with Milton Friedman Nobel also questioned the rigidity of curve, reinterpreting and providing a better understanding of the relationship between inflation and unemployment.
suggested that inflation rose faster than expected, people and businesses adjust their expectations, leading to wages and prices adjust to the faster rate. As a result, the economic stimulus aimed at reducing unemployment could continue to drive inflation increasing, as new price increases exacerbate price increases expected.
is in this area: inflation and unemployment that Phelps developed his famous theory, of the "natural rate of unemployment " according to this model, which refines previous studies by economists like Keynes and Phillips, the market equilibrium does not necessarily mean the elimination of a certain level of unemployment, defined by Phelps as" involuntary ", and still useful economic growth.
I heard this interview : Sálvate .
Friday, October 6, 2006
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If you want to know how produces pure water from air,
or billionaire Donald Trump build the new Trump Ocean Resort Baja Mexico , the first luxury resort on the peninsula,
or Cuba requests United States immediate end to the commercial and financial blockade on the island.
thing to check is Olganza , a blog about business that I visited since I started my own blog.
Olganza been running since May 2005, its founder and editor is Alfredo Sanchez and there you find information that is geared to all age groups. The only condition is to want to be informed of the latest in Technology, Economy, Politics and Current.
Olganza Let's talk ....
Friday, September 29, 2006
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For Chileans, come to recognize that He paid Moya was the collective way of acting out that external debt: we were in water up to his neck.
not that we did not know what he was getting obligations international bodies like the International Monetary Fund or World Bank. In this, our country had experienced. Already in the early years of the Republic Bernardo O'Higgins had to resort to external borrowing to finance state investment.
The problem was different. In the early '80s recession winds began to blow strong rises in international oil prices and a tough anti-inflation policy in major economies creditors. That significantly raise international interest rates, only one step. And hence, to generate a debt crisis in developing countries, a shorter one.
must remember the importance for the developing world debt and no wonder periodically these countries fall into the economic and financial inability to service debt and is to enter renegotiations.
The Chilean economy was no exception and was strongly affected. International prices of our major exports fell and foreign capital flows fell sharply, falling into one of the deepest recessions in its history. Between 1982 and 1983 GDP fell by almost 17%, unemployment rose to over 20%, about 800 bankrupt companies and private banks succumbed in one of its most acute crisis.
external debt amounted to five times and exceeded Chilean exports all that the country produced. With these amounts, debt service impossible!. There was no alternative: paying Moya!. But Moya was never charged. And we had to leave all alone with the head above water at the point of renegotiation.
debtor creditor do?
But that is history and today what has traditionally been a chronic problem for Latin American countries, may no longer be in Chile. As long as the current prosperity will last over time.
is interesting to note the significant improvement in external solvency ratios. So in 2005, total external debt reached U.S. $ 45,014 which represents 39% of GDP, which compares favorably with 45.8% in 2004 and 60.2% in 2002. Another index of solvency, the debt-export ratio also shows a positive development. While in 2002 this quotient was 1.8 times in 2005 dropped to 0.9 times. And finally the composition of debt: that last year only 21% were debt (owed by the state) and the remaining 79% private debt.
Thus, the exceptional income from the price of copper, reserves of the Central Bank and the Treasury greater resources we can change the face and while the U.S. begins to worry about its external debt in Chile we could stop being a debtor country to become a creditor country .
Who would have thought?. Neither Moya.
Monday, August 21, 2006
Lab One: Diffusion And Osmosis
At the same time today will turn 15 days into the strike, according to the labor law, from the moment workers can pick up the union and return to work. Workers who take this option, accept a settlement with the company individually, an arrangement that is based on the Ultima Formal Offer of the Company. However and because in theory no more negotiations could be that the company maintains , for those who sag today, the best he has put on the table .
So What determines the lift?.
- From the strength and cohesion that has the union movement,
- From Potential support received from other unions or confederations of workers. In recent days have begun to emerge nationalist sentiments among the strikers and their peers from other companies.
- Del pocket of every worker. Recuende that while workers are on strike do not get paid, but also remember that the leaders of the Union of Minera Escondida has been organized and have obtained loans at commercial banks to deal with this situation.
Updated 22/08/06: Escondida posted on its Web site its offer of reinstatement individual, with the conditions of its latest proposal.
Tuesday, August 8, 2006
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More than 2,000 unionized workers in the private mining require that both wages and benefits they receive, reflecting the current moment of celebration that lives the "red gold." Is that when he had seen an average annual price of around $ 3 a pound ? Never in my life. So it was inevitable that the demands of the workers were not kept waiting.
postures involved
The figures given by the union, they left speechless over a Chilean not working in the mining industry. Required: a wage increase of 13% and a bonus term conflict $ 16 million ($ 29,629) per worker. In addition to other benefits .
But last offer Escondida, which many would have accepted without question, was a 3% increase in salaries and a bonus of $ 8 million , (14,800 dollars). In addition to an interest free loan of $ 3 million (5,500 dollars).
At this point you have already reported that the firm pays wages 57% owned by Anglo-Australian consortium BHP Billiton, are not negligible, as are the benefits for workers and their families. So it seems inexplicable paralysis of tasks for the rest of Chileans, is not currently living cyclical copper prices. At least I have said union representatives.
Surely at this point you'll be asking the same question I did a few days ago: Does the high price of copper is a reason to increase wages?. Because for unions if it is. Unions
powerful
And before answer the question we must understand that one of the variables that determine the complex compound wage is bargaining power and union power . Variable that has weighed heavily on other Chilean mining company Codelco, the state where there is a labor movement history and important victories on wages. According to a study of remuneration Ernst & Young developed based on information provided by the top ten mining Chilean state workers earn far more their private peers and the reason?. The pressure from its trade union movement.
Returning to the subject of Minera Escondida and the question asked: Is the high price of copper is a reason to increase wages?. I will answer with another question: Does that high copper prices is a consequence of greater efficiency within the enterprise market is a reason unrelated to work performance?. And we all know is a result of increased demand ore.
Labour Productivity
So, under what arguments are expected to increase salaries?.
So in this case: Is there a greater productivity at work at Minera Escondida workers?. According to statements by company executives' productivity has not grown over the past two years. " Therefore, higher wages are not consistent with improvements in productivity are a worrying sign, which would only increase costs production of the company, less competitive when commodity prices fall. Finally
be a single argument to be analyzed and is linked to a factor of "equity" by higher revenues the company would be receiving by way of a higher price of copper. Debatable point, but present on the table. In this sense, the bonds are the most suitable alternative because it would correct a certain way by higher earnings on price, causing a redistribution of wealth from the company to employees, without jeopardizing the company as it would if it falls into the temptation to give in to pressure from salary adjustments beyond what is actually generated.
Thursday, July 27, 2006
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But what is the Beige Book ?
is a summary of U.S. economic conditions has been developed by various institutions (among other companies) in relation to variables such as private consumption, inflation, labor market, wages and trends by sector. This document supports the process of making decisions on monetary policy carried out by the FED.
What does the latter report?
This report contains information up to July 17 highlights the following: 1 .-
Economic activity continued to grow overall, although in some regions there was some slowdown.
2 .- Private consumption showed slightly weaker in most districts. 3 .-
Retail sales grew at a modest pace compared to the level recorded earlier this year.
4 .- However, manufacturing activity remains strong and sales of durable goods remained robust. 5 .-
upward pressure on prices of final goods and salaries remain modest, due to increase in energy costs and supplies in general.
6 .- Competition among companies offset the pressures on consumer prices.
7 .- In most areas there was a moderation in housing activity. 8.-
While residential real estate activity has cooled, declining home sales, some districts show some demand for space for commercial activity. 9 .-
acquired mortgage loans and the demand for consumer loans. However, following strong demand for corporate credit.
What can you expect?
more evident is the message of economic slowdown , but softens the message about inflation , but to continue the rise in fuel prices worldwide, the upward pressure on production costs continue. That is, the risks to price stability remain.
Since the latter, it is likely that the Fed decreed a further increase in interest rates in the August meeting in order to strengthen the conditions for maintaining stability in the general price level.
On the other hand, if more severe slowdown for U.S. economy in the coming months, the final of the rate hikes would be close. Remember that the Fed has raised rates 17 times since June 2004 to its current level of 5.25%.
In this sense, the comments of Livermore left in the previous post are overwhelming: "Bernanke quarter-point rises and it ...". Let's see what happens on August 8 when the Fed meets again, for now what is the probability you assigned to the Fed to raise rates to 5.5%?.
Sunday, July 23, 2006
Why Do Some Guys Paint Their Pinky Nails?
Some analysts are betting on a severe recession next year. And is that the price of oil, adjusted for inflation, was not as expensive since 1980. But for that to happen would take a big shock on oil supplies so that triggered prices above $ 100. And
increases are explained by a combination of geopolitical factors and not by supply problems-certainly other analysts expect most optimistic that the global economy weakens only . And for this to be true, requires that oil exceeds U.S. $ 80 per barrel made not far from our current reality. The week before oil hit a record high above $ 78 a barrel after the escalation of conflict in the Middle East.
Although oil last Thursday loosened its upward trend, closing on Friday at a price between $ 74 and $ 75 the week starts with expectations is not very encouraging.
The escalating conflict in the Middle East, the missile program of North Korea and Japan warning of attack in case you drop or spend a missile over its territory and rebel attacks on production infrastructure oil in Nigeria, would prolong the upward trend in oil prices.
The unknowns that remain unresolved
Although OPEC says in its latest monthly report that next year the price of oil will decline. The scenario we see today leads to price in the opposite direction, thus raises important questions to resolve, some of them were the breakthrough:
How much is speculation in the oil price increases?. Does
upward cycle of interest rates has come to an end?.
Do we face a slowdown in U.S. economy?.
"The slowdown in the U.S. will be offset by an acceleration in Europe?.
"Chinese consumers will be able to take the place to stop the Americans if the U.S. economy weakens?.
Updated Friday 28:
Geopolitics unrelieved Go up again oil prices, mainly due to fears about Nigeria and the Middle East.
this site, it will find an analysis of the topic Nigeria and its effects.Wednesday, July 12, 2006
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Reasons: Inflation
There has been a greater impetus to the local economy (see May Imacec ). The acceleration was this indicator is a good sign after the pale April results, which leads to optimistic expectations for results in the coming months. Therefore, to increased economic activity, there more demand pressure on prices.
supply problems in the international oil market and consequent price rise, have led to increases in fuel prices and tariffs of public transportation, strongly affecting IPC June which increased by 0.6%. Therefore, caution is required not exceed the ceiling of the target range that the monetary authority has proposed this year.
Energy insecurity generated to future increases in the price gas, caused by the new tax regime that Argentina imposed on its exports of natural gas. This accentuates for Chile problem "import inflation" , to purchase goods from countries with this problem.
developed Monetary Policy
The increase in interest rates by the Federal Reserve (Fed) U.S. late last June distanced our rate of 5.0% with the U.S. rate of 5.25% . This encourages a degree of arbitration fees, which encourages capital flight to invest in U.S. at a more attractive and less risk.
should add that the interest rate was zero percent in Japan, you may end next Friday when the Bank of Japan (BOJ) raise rates (0.25%) for the first time in six years. Measure that represents a major change in Japanese monetary policy, to enter a cycle setting monetary as central banks in the U.S. and Europe.
Is it time to put the brakes?
The slow process of policy adjustment monetary policy, conducted by the BC is seen as the most advisable to maintain macroeconomic balance.
however, should not be forgotten that the signs of rising rates ( is waiting two more ) will have a negative impact on the domestic market. Investment and consumption -engines to accelerate growth and absorb the current and the still high unemployment - resent the weight of higher interest rates.
Updated today Friday 14:
The BC issued its usual press release, in which it confirms what the market already guessed: the MPR was raised by 25 basis points to reach 5.25%. However, it is interesting to dwell on the statement and points were:
1 .- ... "available information suggests that the increase in the rate of growth envisaged for the second half could be somewhat lower than expected ". bad thing because it means that the authority does not foresee a growth scenario in line with expectations.
2 .- ... "deliberate adjustments are still needed in the interest rate to keep inflation" ... "The timing of these adjustments will depend on the background to accumulate, may be less prevalent than in recent quarters." I think it speaks for itself, at the next meetings shall levy no fee, but will do so before year's end.
3 .- This shows a path different from that posed by economic agents, since the latter successive hikes expected TPM.
An educational site with information bank developed in our country.
Sunday, July 9, 2006
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"ecstatic fans have taken to the streets throughout Italy ".....
Circo Massimo in Rome, the Italian newspaper Repubblica photo
Fontana di Trevi, photo of the Italian newspaper Il Giorno.
Wednesday, July 5, 2006
How Long Is Plan B In Your System
lies ahead Only the United States, Japan and Germany. Little to the Asian giant whose growth this year expected to exceed 9%, well above the 1.7% predicted for Germany.
To continue this race unstoppable, China Direct is located at the top of the world's economies. This study was taken for granted: In 2050 China will have a GDP in terms of purchasing power parity (PPP) - 26% higher than the U.S.. The firm Goldman Sachs , is bolder still. His bet is for 2040. Predicting addition to the new team to lead the world economy: China, USA, India, Japan, Brazil and Russia. Contrast
Despite the macroeconomic figures, the economy China is still among the last countries in the world in per capita income, an indicator that ranks the 128, behind states such as Gabon, Namibia or Botswana.
And if the distribution of wealth is concerned, China is not the best example. Has a distribution that is not the most equitable in the world. To break one fact: China concentrates 18% of the world's poor. And to continue, with more than 85 million people live on less than a dollar a day.
Academy of Social Sciences of China also recognizes the gap between rich and poor. During 2005, reported that the per capita disposable income of families more wealth, who constitute 10% of the urban population was 8 times higher than the rural poor families also constitute 10% of rural population.
For his part GINI coefficient, which also speaks of a society with high social disparity lies in a dangerous 0.447 and could be even higher as some high-income groups are not considered in their calculation.
Finally there is the Human Development Index (HDI ) than in the case of China is not very attractive. A long and healthy life, access to education and a decent standard of living, all variables that make up this indicator, are still a privileged few. According to a ranking by the UNDP , in 2004 the Chinese occupied 94 place and 2005 remain well below ...
As China seeks formula to bridge this gap, the economy will continue with sustained growth and needless to say, when NASA came to the moon again in 2020, the Chinese will be waiting.
Friday, June 23, 2006
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1. Why in the last decade, this tax has tripled?. When created in 1990 its value was 2.58 UTM per cubic meter (1,000 liters), currently is 6.00 UTM.
2. "This tax funds highways and roads?. The reason why you think this tax to finance the modernization of road infrastructure has no legitimacy. Today, individuals pay to use toll roads whose construction is financed also by individuals. And in regions far from Santiago, the modernization of roads: primary, secondary and rural areas is very slow.
3. Is there discrimination between a person who lives in Santiago and other regions living in?. In some parts of the country gasoline exceeds the $ 700 barrier and for them is still an arduous task to move from one sector to another. (See the status of Cape Horn).
4. "The arrangement of streets is also funded with the same tax? Then why there is a registration certificate?.
5. What percentage the price paid per liter of gasoline, goes in taxes?. On the one hand there is the excise tax on gasoline which is 6 per cubic meter UTM: for every liter of petrol to charge about $ 191 per liter is to fund this tax. If motorists also add the value added tax (VAT), realizes that the total amount paid for a liter of gasoline, 42%, will give the treasury.
6. Was not a tax "transitional"? . While the creation of this tax was due to a specific event (reconstruction after the earthquake of 1985). What nobody has explained is that once a tax is installed is very difficult to remove, and that over time, this tribute has become an important collector and removing the lower government revenues should be raised by another concept. Unless spending is reduced. Difficult, no?.
7. Is this additional tax is to protect us from contamination? So what happens to the tax on oil used in public transport is 1.5 UTM per m3. Is not the oil more polluting than gasoline. Do not encourage this lower oil tax to assess, at the time of self-change the option to purchase a diesel. As a result, is not would be even more damaging air quality?.
8. Or the aim today is to decongest streets that tax?. "discouraging car use?. In Santiago necessary! .... But why the rest of the country is a priority?.
Monday, June 19, 2006
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Just one question:
to lower gasoline taxes, where do you get the state income perceived by that concept?, "Increase the corporate tax? , "create a new one? or maybe, cut spending tax?.
Sunday, June 11, 2006
Painting Horizontal Blinds
And the favorite of those economists are not on the side of bigotry, nor the technical football, even for nationalism (obviously, if so had pointed to by the Netherlands to champion), but rely on the economic outlook. The study reveals that if Italy manages to devote the best in the world for the fourth time in history, the benefits for the global economy will be important.
The sound-wave factor
The influence of football and especially a World Cup on people no less. A favorable action of the national team in the field, increases the confidence of the fans. Happier citizens, are consumers likely to spend more. Resulting in more trips to the supermarket, more barbecues (or its equivalent in the respective country), purchases of souvenirs (T-shirts, flags, badges etc ....) Before, during and after the victory.
The study demonstrates. Economic growth in those countries that win the World Cup tends to be much better during the World Cup the country that loses the final. "The winner enjoys an additional average growth of 0.7%, while the finalists suffered a loss in GDP (Gross Domestic Product) 0.3%, compared with the previous year.
Now if we add that the winner of the cup also have played a greater number of matches and that the psychological impact of a positive environment is spread, we ready. He started to run the multiplier effect of the economy and rising confidence indices.
Europeans take it
To choose your winner, the Dutch bank had considered a number of criteria. Among them, the champion nation should be European. And Why Europe? will ask you.
The point that led economists to a conclusion like this is the imbalance that exists today in the world economy, especially beaten by current account deficit (imports greater than exports) U.S.. A dangerous gap that has persisted since the time it has been of substantial size and is the U.S.: the economy of greater weight in the world.
While economic growth in the U.S., Asia and Latin America has been high in recent years Europe has been delayed. So if the U.S. won the imbalance would be greater, an Asian victory could lead to overheating of the region and the success of a Latin American country not help to ease the economic problems and global imbalances.
So, which is Europe must grow economically. Increased internal demanad the continent, would attract investors and foreign goods, easing the current desequelibrio. And one possible way to accelerate that change, is that one of the major countries of the region to win the World Cup.
But, why Italy?
Italians can create more opportunities if they win the tournament to another European country. The reason is that the Italian economy is hampered by an inflexible labor market, ie a hard time generating new jobs, and present a very poor competitiveness.
A victory of Italy at the World Food greater confidence in consumers and producers, leading to increased spending and investment. Global positive impact that would also hand the recognition of their products, highly favorable element for Italian industry sees as its production and manufacturing has been shrinking since 2001. Open the door to establish business relationships and get investors, prompting the government to introduce new economic reforms, now take place very slowly.
In simple words: must earn an economy large enough to be noticeable impact on the rest of the world and should win an economy that actually benefits from the impact, ie, that economically it is well to with positive impact on take-off impulse.
Friday, May 26, 2006
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Remarkable discipline of high school students, surprisingly little clarity from the Ministry of Education.
Already more than 100,000 students in unemployment. The demands are known to all: free school pass, both for the University Selection Test (PSU), to review the full school day, to abolish the Constitutional Organic Law of Education and end the Municipal schools.
"Unnecessary?: Probably some of them. "Exaggerated?, Too. What happens is that when the demands are ignored and the answers do not come, the limits are not the same.
And to sit around a table of dialogue is necessary but not suffering.
Young explicit but not also claim an educational establishment presentable, good management, teachers and principals involved, effective classes. Finally, a better quality education which reduces their economic and social uncertainty.
They are clear that the current scenario does not improve their chances to enter university, and also have clear high youth unemployment rate (around 17%) that awaits them outside the classroom.