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 @RobinBrooksIIF @itskhoki @HannoLustig A bit of an "MMT free lunch" here. Liquidity is not just printing worthless paper.
Lessons in leadership from @ZelenskyyUa , Part #N. So impressed with his judgement and his courage.
RT @ChristopherJM: Ukrainian President Volodymyr Zelensky made an unannounced visit to the frontline in Zaporizhzhia today, per his office and Telegram channel. He’s been getting out of Kyiv more recently. 📸 @APUkraine and Zelensky Telegram
El coste de la Ineptocracia: Sánchez le dio a su ex jefe de gabinete este juguete, y lo pagamos todos. En medio de un boom de envíos (ver Amazon) Correos perdió 350 millones en dos años y está en "quiebra técnica".
Uno solo de los cientos de enchufados
https://www.elmundo.es/opinion/editorial/2022/06/06/629cdbdae4d4d839268b45e1.html
RT @sguriev: Yes, reducing imports is very important - in particular, for limiting Putin's ability to produce military equipment. But export embargo is crucial for reducing his budget revenues - which he needs to pay his soldiers
https://www.project-syndicate.org/commentary/europe-russia-oil-embargo-needs-immediate-price-cap-by-sergei-guriev-2022-06?barrier=accesspaylog
RT @TimothyDSnyder: "Some observers of the Russo-Ukrainian war seem to think that its greatest danger is that Ukraine will win, or win too quickly, and that this will be uncomfortable for Putin, and that we should care. This is a deeply perverse way of seeing things."
https://snyder.substack.com/p/the-folly-of-off-ramps?s=r
RT @BachmannRudi: . @lugaricano zeigt hier sehr schön den (völlig erwartbaren) psychologischen Mechanismus auf, der gerade stattfindet: es schadet Putin eh nicht, wenn wir weiter sein Gas und Öl importieren, also machen wir moralisch nichts Verwerfliches. Nur: das ist schlechte Ökonomik.
RT @ben_moll: An important point before proceeding: as @lugaricano writes, this is not an academic seminar where we discuss abstract points.
"Words can cost lives here."
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RT @ben_moll: Excellent thread with intuitive explanations why people claiming energy sanctions won't affect Putin's ability to wage war in Ukraine either haven't thought things through or are arguing in bad faith.
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A good answer to @M_C_Klein post (surprisingly endorsed by @paulkrugman ). Words can cost lives here. The support for the embargo is costly to our societies, so people are looking for easy ways out ("oh well it does not help anyway" is one).Let's all think carefully befoe writing
RT @HannoLustig: Does it matter if Europe keeps pumping Euros into 🇷🇺? Economists who claim it does not believe Putin has given Europe a huge free lunch. …
RT @HannoLustig: Does it matter if Europe keeps pumping Euros into 🇷🇺? Economists who claim it does not believe Putin has given Europe a huge free lunch. An explainer. 👇
RT @HannoLustig: @M_C_Klein @lugaricano @itskhoki The anti-inflationary effect of the Russian government's oil revenue for the government works as long as some Russians are willing to hold dollars/euros now, for whatever reason...in order to buy imports (i) now, (ii) later or (iii) simply to hold dollars/euros as a safe asset.
RT @Kasparov63: Macron is worried about Putin facing defeat, but it's exactly what Putin and all Russians must face before Russia can join the civilized world. No more delusions of empire. Only then can Russia be a real nation, not a mafia front and a gas station with nukes.
@repasi @ALDEParty @RenewEurope @vonderleyen Thanks René @repasi, let's talk!
RT @repasi: Das ist ja mal eine spannende Neuigkeit! Die europäischen Liberalen (@ALDEParty) haben beschlossen, dass ihre Fraktion im EP, @RenewEurope, ein Misstrauensvotum gegen die Kommission von @vonderleyen einbringt, wenn Gelder an Polen ausbezahlt werden. I am in, @lugaricano!
RT @mjansen_madrid: El típico espejismo de los laboralistas. Una indemnización por despido (improcedente) disuasoria. Lo que se conseguirá es disuadir la contratación, no el despido. 👇 https://cincodias.elpais.com/cincodias/2022/06/02/economia/1654201631_720663.html?id_externo_rsoc=TW_CC via @CincoDiascom
The official text is out! Here is the position of @ALDEParty
Si la indemnización es disuasoria, nadie contratará. Si siguen "disuadiendo" con impuestos, cargas, regulaciones y prohibiciones, van a conseguir "disuadir" la actividad económica entera. Ese es el camino por el que el populismo lleva a la pobreza. https://cincodias.elpais.com/cincodias/2022/06/02/economia/1654201631_720663.html?id_externo_rsoc=TW_CC
RT @lugaricano: @M_C_Klein @itskhoki @HannoLustig But to me, @M_C_Klein , the key point missing from your analysis is: printing money causes inflation. The €/$ allow the government to pay salaries, pensions etc. by selling € and $, buying rubles without increasing the supply of rubles. Hence, avoiding hiperinflation. 4/4
@M_C_Klein @itskhoki @HannoLustig But to me, @M_C_Klein , the key point missing from your analysis is: printing money causes inflation. The €/$ allow the government to pay salaries, pensions etc. by selling € and $, buying rubles without increasing the supply of rubles. Hence, avoiding hiperinflation. 4/4
@M_C_Klein @itskhoki @HannoLustig People would try to get their hands on the money, but the government would try to secure the site of the drop to pay for imports from China or India. It could also buy weapons or pay mercenaries. 3/4
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
