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
RT @jeuasommenulle: @lugaricano Oh I certainly didn't mean to say it's not. What I'm saying is that whole institutional framework (and QE especially, but also national accounts) relies on the debatable assumption that it's not.
So all I'm saying is that it's convenient to say it's a subsidy when ECB loses ...
RT @lugaricano: @jeuasommenulle Are we supposed to sit on the sides clapping while a risk free multibillion direct transfer is made to the banks who borrow TLTRO3 and deposit at the new rates? Or are policymakers supposed to do something about it, avoiding the legitimate taxpayer backlash?
RT @lugaricano: @jeuasommenulle Come on, ECB money IS money: here is a direct quote from Hernández de Cos (BdeE governor) speech 17/10/2022:
"As a consequence of the forecast of negative results... , logically, we do not expect that,..., the Bank of Spain will continue contributing income to public accounts"
@jeuasommenulle Come on, ECB money IS money: here is a direct quote from Hernández de Cos (BdeE governor) speech 17/10/2022:
"As a consequence of the forecast of negative results... , logically, we do not expect that,..., the Bank of Spain will continue contributing income to public accounts"
Hard to believe Putin is saying this wiht a straight face (now, in @skynews):
"We have to treat one another with respect"
"All religious should coexist in peace"
"Each civilization should be able to choose its own path... dialogue...with an emphasis in moral values"
Los secuestros/deportaciones de niños ucranianos a Rusia (confirmados por Rusia) son uno de los mayores crímenes de esta guerra-sus secuelas seguirán vivas dentro de medio siglo. Siento impotencia y rabia al leerlo.
RT @TheStudyofWar: Russian officials continued to admit that #Russia is deporting Ukrainian children to Russia under the guise of adoption and vacation schemes. https://www.understandingwar.org/backgrounder/russian-offen…
RT @JeremyCliffe: In the wake of Scholz ramming through sale of stake in Hamburg's harbour to a state-owned Chinese firm: now Germany's federal government is backing sale of a chip manufacturer to an entirely Chinese-owned buyer despite warnings from intelligence agencies.
@jeuasommenulle Are we supposed to sit on the sides clapping while a risk free multibillion direct transfer is made to the banks who borrow TLTRO3 and deposit at the new rates? Or are policymakers supposed to do something about it, avoiding the legitimate taxpayer backlash?
RT @lugaricano: El BCE estaba prestando a los Bancos €2 billones a 0%. Con la subida de tipos, al depositarlos de vuelta en el BCE estos ganaban >1%- un subsidio de casi 30,000 m. Hoy el BCE ha prometido cambiarlo. Buena noticia.
Lo explico en el final de este podcast.
?s=20&t=Hv6V1hpq49mXA2gE7AsEsg
El BCE estaba prestando a los Bancos €2 billones a 0%. Con la subida de tipos, al depositarlos de vuelta en el BCE estos ganaban >1%- un subsidio de casi 30,000 m. Hoy el BCE ha prometido cambiarlo. Buena noticia.
Lo explico en el final de este podcast.
?s=20&t=Hv6V1hpq49mXA2gE7AsEsg
RT @elenaarrieta: Muy interesante este podcast para entender las distintas derivadas de la subida de tipos de interés del BCE. Hipotecas, cuentas remune…
The current riskless profits from TLTROs for banks are a scandal: there are €2tn in @ecb loans at 0% to banks, a lot of it back in deposits at ECB at>1% rates. The ECB/taxpayers pay direct subsidy of almost €30bn to banks.
Changing that is welcome.
https://www.ecb.europa.eu/press/pr/date/2022/html/ecb.pr221027_1~c8005660b0.en.html
What the hell have Mr Scholz/Germany learned from their historic Russia mistake?
Nothing.
After the sale of a port to China, they are now selling them a Chip manufacturer against all warnings.
This is outrageous.
RT @olk_julian: Exklusiv: #Bundesregierung will nach @handelsblatt-Infos die chinesische Übernahme der Chip-Fertigung des Dortmunder Unternehmens #Elmos zulassen. Berlin soll sich damit der Warnung des Verfassungsschutzes …
A las 14:20 discutiremos la decision de tipos del @ecb que se acaba de anunciar. https://nitter.eu/i/spaces/1RDGlaDeEozJL
Gran noticia que el Tesoro y la Alcaldía se unan para intentar traer a España la Autoridad Antiblanqueo. Madrid tiene la capacidades financieras y tecnológicas y la red de transportes para ser sede de esta importante agencia. @EPoptcheva
RT @carlos_cuerpo: Presentamos, junto con el alcalde de @MADRID, la candidatura de la ciudad como sede de la Autoridad Europea de Lucha contra Blanqueo Capitales y Financiación Terrorismo
👉🏻atraer…
Frenazo en seco de la demanda esperada de hipotecas (escala derecha, curva azul) según la encuesta del @bce a los bancos. Empezaremos a ver caídas fuertes de los precios inmobiliarios y parón en construcción. Via
@atalaveraEcon @OxfordEconomics
@atalaveraEcon @OxfordEconomics ok, gracias Ángel corrijo.
A lot of emphasis on Rishi Sunak being rich obscures his amazing path: the son of two African-born hindu inmigrants, a father who become a physician in the NHS and a mother who become a pharmacist.
That such a a story is possible is a huge success for the UK as a society.
Me ha encantado el discurso de @RishiSunak :
"Este gobierno tendra integridad, profesionalismo y rendirá cuentas. La confianza se gana, y yo ganaré su confianza."
Espero que el fin del populismo también llegue pronto a España
https://www.bbc.com/news/uk-63386413
RT @eric_hontz: Let me see if I get this far left argument right -
I’m anti imperialist so we must negotiate over the head of another sovereign state with an aggressor that is trying to take territory by force and commit genocide against its people and culture.
https://www.ft.com/content/43b56648-99f8-4aab-bcef-f80c6cb19afc?sharetype=blocked
RT @amjorge15: Tremendo este gráfico de Airef sobre la distribución del coste de las diferentes medidas en materia de energía y transporte por deciles de renta. La mejor repartida es la rebaja de impuestos a la electricidad, la peor, la gratuidad en trenes de media distancia.
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
