@DuncanWeldon Now though he seems to ignore much of the detailed microeconomic research about the practical operations of markets to make bold sweeping statements. It’s not a challenge to orthodoxy, it’s reckless. 2/2
@DuncanWeldon When he did his modelling of the impacts of #Brexit he captured it as a VAT cut in his model. Which really was just bizarre. I had respect for him because he still is technically capable of building his own models and his work on RE in the 80’s was very well thought through. 1/2
(My 13 yr old daughter): Dad I just tested positive for #COVID. (Me): oh noooooo, are you ok? (Daughter, barely contains her smile) yah, fine. this means I’ll be one of those numbers on the telly - a statistic! (Me the economist): yes my love, you had better get used to that.
@MarcusRashford@England@MarcusRashford you are an inspirational human being and a damn fine footballer. I only wish more people tried to bring change in the positive dignified way you have done. You are a true credit to our society.
Super interesting perspective on #cryto mining. A new term to me #bloodcoin. - but important that people are shining light on the environmental consequences. https://t.co/smbnRwdOMy
@romanmars and the 99% invisible podcast basically saved my sanity in #LockdownLife - a tweet probably 9 months too late. But too busy listening to #podcasts sorree
The Chancellor states that public finances need to be put on a stable footing to insulate the economy against future negative economic shocks. A 1% point rise in interest rates would cost the government £25bn. Debt is affordable for now, but this may not be the case in the future
The OBR are now forecasting a swifter and more sustainable recovery. Expect the economy to return to pre-Covid levels six months earlier than expected. But repairing the long term damage will take time. In five years time, the economy will be 3% smaller than it otherwise would be
The OBR forecast that 1.8m fewer people than previously thought are expected to become unemployed as a result of the pandemic. Unemployment now estimated to be c. 6.5% in 2021. Protecting employment is the Chancellor’s priority in this Budget - Jonathan Gillham, chief economist
.@PwC_UK’s latest #GoodGrowth for Cities shows that those #cities that have been hardest hit in 2020 will come back strongly in 2021, but how can they drive long-term good growth? Find out more https://t.co/iIJ3MGb288 #GoodGrowth#FutureOfGov
The UK could see a “baby bust” in 2021, with the annual birth rate dipping to the lowest level since records began according to our latest #economic predictions https://t.co/uCv1p7mnZU
Do you want to know how #blockchain will transform business and the global economy? More great work from the #economics team at #PwC Download @PwC’s #TimeForTrust report today: https://t.co/ogAPC6rZi2
And suggests that from May through to August the economy has pulled back roughly 60% of the lost output experienced during peak lockdown in late-March and April. #ONS#COVID19#GDP#PwC 2/2
This mornings GDP data is broadly in line with expectations, but growth of only 2.1% suggests that the post-lockdown recovery slowed in August. #ONS#COVID19#GDP#PwC 1/2
Will #COVID19 lead to a rebalancing of the UK #housing market? @PwC_UK’s survey found that 30% of those who previously thought they would move to a city centre now want to live in suburbs, towns or villages. Explore more: https://t.co/CE4p0JolDf #GoodGrowth
Our new report on the economic impact of returning to the office https://t.co/K2Kj54GYPF is now available on the @PwC_UK website. We are looking at the impact on the office supply chain of working from home. Increased #WFH will lower GDP for this sector by £15bn. #PwC#Covid19UK
What my first semester in the Econ PhD will be:
Micro theory
Macro theory
Econometrics
What my family and friends think my first semester will be:
What is Today’s GDP?
Stock Tips for Your Parents
What is Debt and Why is it Bad?
Celebrating Capitalism
Slightly surprised that business investment didn’t fall by more though there may be time lags here in effects coming through. Conversely the fall in government spending was surprisingly large. Negative net trade effect may reflect UK locking down later than key EU trade partners.