Lars P Feld

University of Freiburg, Walter Eucken Institute, Former Chairman of the German Council of Economic Experts

[International and Monetary Economics Network @int_mon_econ]

Super interesting!

"Debt Sustainability and the Range of Multiple Equilibria" by Olivier J. Blanchard, Pedro Martínez-Bruera, and Gonzalo Huertas.

"We characterize the size of the range of multiple equilibria in sovereign debt markets. We show that the nature of the equilibrium depends crucially on the degree of uncertainty, which we formalize first as uncertainty about primary balances and later as uncertainty about the fiscal feedback rule. For low uncertainty, the range can be large, but it becomes smaller as uncertainty becomes larger. If uncertainty is large enough, the multiplicity disappears: the interest rate is unique and becomes a continuous function of the debt level. The source of these results is that larger uncertainty decreases the effect of the perceived probability of default on the actual probability of default, thus reducing and eventually eliminating the scope for multiplicity. Interpreting the source of an increase in the interest rate in actual situations is difficult, and complicates the use of intervention by central banks."

https://t.co/EsuAM7UFsB

[Georg Erber @PhraAthit]

https://t.co/hgxhjtvcDX
#Nobelpreis #Medizin

[Angelica Shalagina Official🇺🇦 @angelshalagina]

🔥🔥BREAKING: Ukrainian forces liberated 370 km² of Ukrainian land in September 2026 alone.

370 km² back under the Ukrainian flag🇺🇦🇺🇦

[Zoe Schneeweiss @ZSchneeweiss]

ECB hopeful Knot says market access is at risk if nations cut rules https://t.co/yv4KMA3BOR via @LauraNoonanX

[jck✨ @Alea_]

🛑🇨🇵 France still maintains the capacity to remain the master of its own destiny IF it takes *swift* fiscal action. BdF Gov

[Financial Times @FT]

FT Exclusive: The head of the French central bank said the Eurozone’s second-largest economy could win back investor confidence despite the 'serious and worrying' moves on sovereign debt markets in recent days. https://t.co/u5dBtK2vZ6

[William J. Luther @WilliamJLuther]

Myth or Measurement: What Does the New Minimum Wage Research Say about Minimum Wages and Job Loss in the United States? by David Neumark and Peter Shirley

https://t.co/MwTpPk9kpU

[Peter Schiff @PeterSchiff]

The 10-year Treasury now yields 5.35% and the 30-year 5.7%, the highest since 2002. What should be of greater concern is what happens to the economy when yields hit their highest since 1994, when both maturities were over 8%. Imagine 30-year fixed mortgage rates back above 10%.

[Beate Meinl-Reisinger @BMeinl]

Personalentscheidungen der SPÖ sind Sache der SPÖ. Aber hier muss man einen Punkt machen.
Für uns NEOS ist grundsätzlich nicht wichtig, welche Namen auf Türschildern stehen, sondern dass in der Zusammenarbeit klare Verhältnisse herrschen.
Dabei tragen mehrmonatige Übergangsprozesse nicht zur Schaffung der notwendigen Klarheit bei. Österreich kann sich keinen Stillstand leisten. Wir können daher in der Regierungsarbeit nicht Rücksicht auf interne Befindlichkeiten nehmen.
Für uns NEOS steht im Fokus, den Standort wettbewerbsfähiger zu machen und Beschäftigung zu stärken. Daneben gibt es eine Reihe von Reformprojekten, die wir ohne weitere Verzögerung abschließen wollen:

Angefangen bei der Bundesstaatsanwaltschaft, über die Sozialhilfe- und Arbeitsmarktreform bis hin zu einer echten Gesundheitsreform. Es braucht jetzt den klaren Reformwillen aller drei Koalitionsparteien.
Die Menschen in Österreich erwarten sich zu Recht eine Regierung, die für sie arbeitet, und genau das werden wir NEOS weiterhin tun.

[Deutschland Wählt @Wahlen_DE]

BUNDESTAGSWAHL | Sonntagsfrage INSA/BILD

AfD: 30,5% (+1,0)
Union: 17,5% (-1,5)
SPD: 14,5%
GRÜNE: 14,5%
LINKE: 10,5% (+0,5)
FDP: 4,5% (+0,5)
BSW: 3,5%
Sonstige: 4,5% (-0,5)

Änderungen zur letzten Umfrage vom 29. September 2026

Verlauf: https://t.co/yezJbEnw88
#btw29

[Financial Times @FT]

French central bank head warns country at risk of being ‘strangled by interest rates’ https://t.co/G3aWqiec0j

[Florian Ederer @florianederer]

Economics is the *only* scientific field in which the concentration of institutional affiliations of award-winning researchers (i.e., more winners at top universities) has increased over time.https://t.co/5rbY9RUW1c

[David Neumark @NeumarkEcon]

What's the role of top institutions' control of journals/promoting their own scholars? And is this in part because econ faculty numbers have grown, enabling a lot of hiring at low cost relative to scientists?

[Barchart @Barchart]

JUST IN 🚨: U.S. 30-Year Treasury Yield hits 5.7% for the first time since 2002 🤯 👀

[Ivan Werning @IvanWerning]

I never agreed with the protectionist takes nor do most trade economists i know. useful positive evidence not enough to make normative leaps about trade. If anything it made me think of inequality redistribution and social insurance, which I think is a key issue always and increasingly.

[Ivan Werning @IvanWerning]

On "China Shock" research vs policy...

Important to debate research, but any suggestion that current US protectionism has anything to do with Autor-Dorn-Hanson's papers seems outlandish to me. Trump thinking on these issues is well documented and goes as far back into the 80s.

[Danyal Bayaz @DerDanyal]

Glückwunsch zum Medizin-#Nobelpreis, u.a. nach Berlin & Würzburg. Das zeigt, dass 🇩🇪 in der Wissenschaft immer noch ganz vorne mitspielen kann. Jetzt müssen wir - nicht nur in der Optogenetik - von der Forschung stärker zur Anwendung kommen. Wir haben alles, was es dazu braucht!

[Spring-Nuts @SpringNuts_]

Wrecking Ball is one of Bruce's great songs of defiance in the face of time, change, loss, and mortality. On the surface, Bruce is singing from the perspective of Giants Stadium, daring the wrecking ball to come and tear it down. But beneath that story, the stadium becomes a metaphor for all of us—our lives, our memories, the things we build, and the knowledge that eventually everything must face its reckoning.

Bruce originally wrote the song in 2009 as Giants Stadium was nearing demolition, a place where he and the E Street Band had played legendary shows. He gives the building a voice and a personality: proud, battered, experienced and completely unwilling to go quietly. The message is essentially: You may eventually knock me down, but don’t mistake that for defeating me.

That is what gives the song its emotional power. The “wrecking ball” can be something personal to each individual, and can represent almost anything coming for us—age, hardship, illness, economic struggle, disappointment, death or simply the relentless passage of time. Bruce isn’t pretending those things can be avoided. He’s saying that what matters is how we stand when they arrive.

There is also something deeply Bruce-like in the idea that our scars are evidence that we’ve actually lived. The song celebrates endurance rather than perfection. The years may take something from us, but they also leave behind memories, relationships, battles fought, nights celebrated and a history that can’t simply be demolished along with the physical structure that contained it.

And then comes the heart of the song—a message that has resonated deeply with me personally, especially over the last couple of years.

Hard times come, and hard times go.

Nothing lasts forever. Not the good times, but just as importantly, not the bad times either. And there is enormous hope buried within that realization. No matter how difficult the moment may be, no matter how heavy the weight we’re carrying, the moment will eventually pass. We endure. We keep moving forward.

Ultimately, Wrecking Ball is a song about standing your ground against the inevitable—about refusing to be intimidated by whatever life puts in front of you. It’s about looking adversity square in the eye and saying: I’m still here.

And so, in my own act of defiance in dealing with a crazy upside down world , I say:

Yeah, we know that come tomorrow, none of this will be here
So hold tight to your anger
Hold tight to your anger
Hold tight to your anger, and don't fall to your fear

Cause as we all know...

Hard times come, hard times go
Hard times come, hard times go
Yeah, just to come again

BRING ON YOUR WRECKING BALL!!

Have a Magnificent Monday! 🎸🎷🙌🏻

[BRICS News @BRICSinfo]

JUST IN: 🇨🇳 China shuts down hundreds of banks as Beijing restructures its banking system amid economic slowdown.

[space cadet 🇪🇺🌐🇩🇪 @actsmaniac]

Nothing can stop the german powerhouse