Luis Garicano 🇪🇺🇺🇦 @lugaricano@respublicae.eu
Unofficial automated mirror. No copyright asserted. ∎ Economist. Back at LSE as a Professor at @LSEPublicPolicy Summer 2023. Non-resident Fellow @bruegel_org. Recovering MEP. Currently @ChicagoBooth.
Joined Apr 2022
Depósitos llenos+altas temperaturas= precios del gas 0 o incluso negativos.
RT @AndreasSteno: A sudden MATERIAL oversupply of Gas in Europe.
Could prices go to 0? 🤯 A thread 1/n
El nombramiento de Rishi Sunak es una gran noticia para España y para Europa, porque es el fin del momento populista en el Reino Unido (BoJo, Corbyn) y porque facilitará, desde el interés común y el sentido común, el entendimiento con Europa.
La tecnología es cada vez más intrusiva, más abusiva, y más compleja. Gran hilo "mi cliente había pagado cientos de dólares por el privilegio de usar una máquina saboteada por la avaricia e incompetencia del fabricante."
RT @_danilo: so here's a story
I volunteer helping seniors with their technology issues. One of my regulars came in with a Lenovo laptop. It still had a retail sticker; I imagine she bought it used, for over $500
…
RT @RobinBrooksIIF: All that Euro zone gloating over the UK is completely off the mark. The UK is allowing price discovery in the bond market, which is not the case for Italy in the Euro zone. UK policy is getting a firm "No" from markets and will adjust accordingly. That's not the case for Italy...
RT @sbuhai: @lugaricano Recalls the filmed 'dressing down' of Constantin Pîrvulescu—one of the founders of the Romanian Communist Party—when in 1979, during the Party Congress he opposed Nicolae Ceaușescu's reelection as party leader, arguing the latter sought only personal gain: https://www.youtube.com/watch?v=ueqFOxAFJIg
This is your reward, Mr Hu, for playing by the rules and leaving after two terms... A naked display of power by Xi in front of the world.
RT @FridaGhitis: Former Chinese leader Hu Jintao taken out of the Chinese Party Congress — apparently against his will. What happened? Hu was China’s top official before Xi. Did he oppose Xi’s historic power grab?
CNN reporting on the incident censored in China
RT @Simon_Nixon: Brilliant @BrookesTimes on the Lying Toad
RT @timobres: There are other resources. Both the NBER and the AEA have ombuds who can receive and aggregate anonymous complaints. See https://www-aeaweb-org/about-aea/aea-ombudsperson/faq and https://www-nber-org/about-nber/standards-conduct
@alanbeattie You should consider Spain, we will deliver hugely improved infrastructures ( HS2 finally!), good food, and better weather.
RT @villecantell: Foreign- and security policy and diplomacy are areas that require expertise and skill, just like any business. In a free world, anyone can voice an opinion. But of course if you have 100 million followers it would be nice that you would do it responsibly. #Ukraine
Beautiful answer from Draghi: These things are overdrawn, Italy is strong and will do fine without me (not literal quote).
Italy, and Europe, owe a lot to him.
RT @mariatad: My last question to Draghi
RT @COdendahl: I find it remarkable that those proposing various caps on gas prices in Europe have yet to come up with a workable proposal.
The Iberian exception is clearly and predictably unworkable.
RT @GeorgZachmann: @lugaricano Gracias.
Y esto ni siquiera tiene en cuenta el aumento inducido de la demanda de electricidad.
Por eso la excepción ibérica es una idea terrible: cálculos para Alemania muestran que duplicaría el uso de gas para producir electricidad.
RT @GeorgZachmann: The "Iberian exception" could be a substantial draw on scarce gas supplies!
German power plants would in specific situations use TWICE as much natural gas, if the gas price were subsidized from 150€/MWh to 50€/MWh!
1/3
[thx to @c_heussaff for calculations!]
Norway and Switzerland are indeed good models- because they are both inside the Single Market. UK chose to leave the single market and even the customs union, raising enormous trade and non trade barriers. That is the reason for the enormous cost of Brexit.
RT @JohnHCochrane: No, they are being destroyed by their incompetent handling of Brexit. Switzerland / Norway / Singapore-on-Thames not bad models. A pro-growth island using its…
La mejor explicación del bien diseñado plan alemán. Subsidia un porcentaje del consumo *pasado*. Así ayuda a las familias y les da un incentivo para ahorrar energía (al contrario que el absurdo sistema español que está manteniendo el consumo constante).
RT @LionHirth: Germany's "gas commission", a body of experts and stakeholders, has published recommendations how to ease the burden for citizens and industry.
Core to this is a mech…
RT @BallouxFrancois: This is an important piece of work. To me, it looks solid both conceptually and methodologically. I was given advance warning and was able to replicate the key findings. To the best of my knowledge, I confirm the reported patterns are genuine.
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@JohnHCochrane They are not starting from 0. The starting point is an economy closely integrated with its neighbours. Whatever the benefits of low taxes, if Massachusetts went out of the US single market and built trade and not trade barriers with its neighbours, what would be the impact?
@JavierLicandro Digo que se parecen en esto. Impresionante conseguir un doctorado sin haber aprendido a leer, enhorabuena.
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RT @lugaricano: Sobre la deuda exterior, el desprecio a las instituciones, los escenarios macroeconómicos ficticios y otras vulnerabilidades compartidas de la España de Sánchez y el RU de de Truss.
Wow. I took this extraordinary picture. A bird crashed against the building window @Columbia_Biz and left a clear and precise imprint of its shape.
Unofficial automated mirror. No copyright asserted. ∎ Economist. Back at LSE as a Professor at @LSEPublicPolicy Summer 2023. Non-resident Fellow @bruegel_org. Recovering MEP. Currently @ChicagoBooth.
Joined Apr 2022
