Macro 'n Cheese
A weekly blog written by our chief economist and team of analysts. Find economic insights, inspiring analyses, and beautiful charts, all powered by Macrobond.
This week, Roger returns to a subject that he has delved into many a time in this forum, the Phillips-curve. But instead of discussing whether it is dead, dormant or alive and kicking he goes looking for evidence that running a “high-pressure” economy is good policy. How does this relate to the current economic policy debate? – Well, read on!
This week Roger takes a deeper look at how the PMI compares to “real” data, and posits that it is a close relative to the good old confidence fairy. While these forward-looking indices are very popular they may need a pinch of salt (or two) before being liberally applied to your economic and financial outlook.