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Most recent posts

  • Jobs recovery? Yes! Strong labour market? No!

    posted to Scottish Economy Watch on Wed 11th Sep 13

    The latest Scottish labour market data published today show jobs continuing to be created as unemployment rose. During May-July Employment in Scotland rose by just under 6,000 (5,627) over the previous Feb-April quarter. But unemployment also rose by just under

  • Has Scotland already spent its oil fund?

    posted to Scottish Economy Watch on Wed 10th Jul 13

    In this post in April I responded to a Scottish Government document which offered a summary of trends in total Scottish tax receipts since 1980-81. The document shows that Scots have paid more tax than UK tax payers if a geographic share of oil revenues is

  • No double-dip but UK recovery just got worse

    posted to Scottish Economy Watch on Thu 27th Jun 13

    The UK Economic Accounts for the first quarter 2013 were published this morning. The UK media - e.g. here - tended to highlight that revisions had removed the double dip recession in the first quarter of 2012. GDP fell in the second quarter but now appears

Most popular posts

  • Public sector jobs and fiscal austerity: update

    posted to Scottish Economy Watch on Thu 13th Dec 12

    Yesterday's publication of data on public sector jobs in Scotland for the third quarter of this year,enables me to updateearlier posts on public sector jobs and fiscal austerity: here and here. The latest data show there were 581,300 people employed in the

  • It's the borrowing costs not the flip-flop

    posted to Scottish Economy Watch on Fri 5th Oct 12

    The Scottish media has expressed some concern that Alex Salmond is "flip-flopping" over the issue of whether Scotland would have to sign up to a fiscal stability pact if an independent Scotland adopted sterling: here and here. In March he said we would, then

  • Small does matter

    posted to Scottish Economy Watch on Sat 9th Jun 12

    Paul Krugman rightly dismisses claims that the focus by advocates of austerity on the recent economic performance of small states such as Estonia and Latvia is irrelevant because they are too small too matter. Paul suggests that every economy even a small one

Latest posts linking here

  • Scotland's future exchange rate regime

    posted to mainly macro on Tue 23rd Apr 13

    I have not, until now, written anything about prospective Scottish independence. In part I admit this is because the vote is a long way off (18th September 2014), and the polls have consistently suggested that the Scottish people will reject independence. However

  • Links for 12-14-2012

    posted to Economist's View on Fri 14th Dec 12

    Monetary Policy Innovations - Simon Wren-LewisA Fed That Is Focused on the Value of Clarity - NYTimes.comFed presidents discuss economic recovery - UChicago NewsWhat Is Wrong with the UK Economy? - Adam PosenWhy the Deficit and Not Jobs and Wages? - Robert

  • What is it about Latvia?

    posted to mainly macro on Sat 9th Jun 12

                    that either makes visitors lose their critical faculties, or non-visitors like myself and Paul Krugman lose theirs. In my earlier post, I was not that surprised that a member of the ECBs Executive