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
@M_C_Klein @itskhoki @HannoLustig Would they run to get the Euros? Or would they say "look,let's leave the mountain of cash there, we cannot do anything with it"? I think the question answers itself.
@M_C_Klein @itskhoki Thanks Matthew. The @HannoLustig experiment is worth thinking about. What would Russians, people, firms, government do if Europe dumped €1bn from a helicopter every day in Moscow? 1/4
RT @itskhoki: @M_C_Klein @lugaricano I see no reason not to impose a steep russian energy tax at the very least.
RT @itskhoki: @M_C_Klein @lugaricano One can argue that the extra impact does not justify the cost for EU. But to set the record straight, the extra impact is exactly one billion Euros every two days of energy revenues from Europe (diverting most of this oil and all of this gas is nearly impossible in short run)...
RT @RobinBrooksIIF: Some claim Russia's imports are collapsing, so no need to bother with an energy embargo. This is misleading and false. Compared to the Jan - April 2021 period, Russia's trade surplus is up +$94 bn in Jan - Apr 2022. Of that rise, +86 bn is due to exports. It's ALL exports...
Aquí está el de hace diez años, para el que tenga curiosidad. Desgraciadamente, está demasiado al día. https://elpais.com/elpais/2012/05/31/opinion/1338475092_453958.html
Hace una década de nuestro artículo (en portada de @el_pais), sobre los graves problemas a los que se enfrentaba España y la falta de voluntad reformista. Mis coautores J. Fernández-Villaverde y T Santos, reflexionan sobre la que resultó ser década perdida https://blogs.elconfidencial.com/economia/la-mano-visible/2022-06-04/futuro-espana-brasil_3436081/
Good luck dear PM @kajakallas. You are doing an extraordinary job at leading not just Estonia, but the whole of Europe, in these difficult times.
RT @kajakallas: @rmilneNordic Coalition collapsed, goverment is standing. Minority government but still.
RT @lugaricano: Importante: acabamos de decidir en el Congreso de @ALDEParty pedir a nuestro grupo que proponga una moción de censura de la Comisión Europea si la Comm. da el dinero a Polonia sin que Polonia cumpla las condiciones de independencia judicial impuestas por el Tribunal de Justicia.
Importante: acabamos de decidir en el Congreso de @ALDEParty pedir a nuestro grupo que proponga una moción de censura de la Comisión Europea si la Comm. da el dinero a Polonia sin que Polonia cumpla las condiciones de independencia judicial impuestas por el Tribunal de Justicia.
BREAKING. In its Congress, @ALDEParty has just agreed to ask our parliamentary group @RenewEurop to promote a Motion of Censure of the European Commission if it disburses cash to Poland under RRF without ECJ conditions being met. A Censure would force the Commission to resign.
Happy birthday to the bravest man in the world and last Sakharov prize.
Take good care of yourself @navalny. We all need you!
RT @navalny: Сегодня мне 46 лет.
И у меня все отлично.
Ну то есть какие-то вещи можно было бы и подправить - это да. Но ведь и у каждого так. https://t.co/DBaS7Uczb8
Happy birthday to the bravest man in the world and last Sakharov prize.
Take good care of yourself @navalny. We all, specially, Russia, need you.
RT @navalny: Сегодня мне 46 лет.
И у меня все отлично.
Ну то есть какие-то вещи можно было бы и подправить - это да. Но ведь и у каждого так. https://t.co/DBaS7Uczb8
.@Mylovanov is right.
Avoid destruction now, to reduce the need for reconstruction
RT @Mylovanov: 100 days. The war is more intense than ever. The Ukrainian daily losses are large and increasing. Russia is gaining ground. Yet, the world is talking about reconstruction after the war. This is the wrong focus. Russia must be stopped first. Don’t get complacent.
RT @HannoLustig: 1/additional export sanctions against 🇷🇺 have no effect, if (i) Russian imports are zero now, and (ii) zero in the future, and (iii) Russians have no other motive for holding dollars/euros (for example, no demand for dollar safety). dollars have to be completely useless in 🇷🇺.
Does sending hard cash to Russia matter? How could it not! @itskhoki answers carefully and convincingly to @M_C_Klein 's doubling down on his surprising claim.
RT @itskhoki: Interesting analysis, which nonetheless misses a few important points about export sanctions. Summary in thread below, formal analysis see Corollary 1 https://t.co/6f4glu2Rrh
1) While indeed export and import sanctions achieve the same goal (due to Lerner equiv…
RT @HannoLustig: Suppose we did a helicopter drop of dollars in Red Square in Moscow. If no one bothers to pick them up, then export curbs are indeed irrelevant. Not a likely outcome of this experiment.
RT @itskhoki: To sum up, export sanctions are effective to reduce purchasing power of the government a) when imports >0 and b) when imports=0 but households want to hold FOREX as a vehicle for savings. n/n
RT @Mylovanov: 100 days of the war. Yellow - recaptured territory
.@sguriev : in the short run the announced oil embargo helps Putin, by raising oil prices. Europe must adopt inmmediately one of two measures:
- a price cap, or
- a tariff
Guriev prefers, for political reasons (tariffs are, we know! hard to sell) a price cap. 👇
RT @ProSyn: The European Union’s embargo on oil from #Russia will hurt Vladimir Putin, but not soon enough. Europe must immediately impose a price cap on Russian oil and gas…
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
