Category Archives: Economic Growth

GDP – a Digital Remix

Posted on October 24, 2019 by markcliffe

In a recent article for Project Syndicate, I argue that more than a decade after the global financial crisis, macroeconomists have failed to absorb three crucial sets of lessons. The models that most are using are still struggling to … Continue reading →

Posted in Economic Growth, Inflation, Macroeconomics, Technology | Tagged Digital, E-commerce, Economics, growth, Innovation, Investment, Productivity, Technology, US | 1 Comment

Driverless Cars – The Route to Richer, Happier Lives

Posted on May 11, 2016 by markcliffe

Driverless cars are already a reality. There’s still work to be done on the technology, and big challenges confront their widespread adoption. But there can be little doubt that they promise to be a transformative technology. Apart from boosting output … Continue reading →

Posted in Autonomous Vehicles, Driverless Cars, Economic Growth, Inflation, Innovation, Macro, Productivity, Real Estate, Sharing Economy, Technology | Leave a comment

Looking for Trouble

Posted on April 28, 2016 by markcliffe

How politics could fuel downside risks to global markets It is easy to find downside risks to the outlook for the global economy and markets. Worse still, a recent ING report, entitled ‘Looking For Trouble’, highlights doubts about the ability … Continue reading →

Posted in Brexit, Economic Growth, Macro, Macroeconomics, Politics, US Election | Tagged Brexit, Economics, fiscal policy, global economy, helicopter money, Macroeconomics, monetary policy, Policy, Politics, US | Leave a comment

21 Lessons from the Greek Crisis

Posted on August 5, 2015 by markcliffe

The refinancing deal struck on 13th July between Greece and its Eurozone partners left everyone bruised and unhappy. While it staved off the immediate threat of yet greater chaos from Greece being forced to abandon the euro, doubts remain … Continue reading →

Posted in Economic Growth, EMU, Macro, Macroeconomics, Uncategorized | Tagged ECB, Economics, employment, EMU, Euro, Foreign exchange, Germany, Greece, Greek crisis, Grexit, Macroeconomics, monetary policy | Leave a comment

Globalization Disrupted : Will world trade continue to disappoint?

Posted on December 2, 2014 by markcliffe

Since the onset of the financial crisis, world trade is no longer growing twice as fast as output. I examine the reasons behind this in this presentation, an updated version of one produced to support a panel debate at a … Continue reading →

Posted in Economic Growth, Macro, Macroeconomics, Technology, Uncategorized | Tagged China, Economic Growth, Economics, FDI, Germany, global economy, Globalization, Investment, Offshoring, Technology, Trade, Trade Liberalisation, US | 2 Comments

The New Abnormal

Posted on November 7, 2014 by markcliffe

It’s remarkable how pervasive ‘New Normal’ thinking still is, despite innumerable economic and financial market shocks. Forecasters continue to assume that the global economy will gravitate towards low but stable growth, regulators still aim to deliver a more stable financial … Continue reading →

Posted in Bond Markets, Economic Growth, EMU, Innovation, Macro, Macroeconomics, Productivity, Technology, Uncategorized, US Treasury Bonds | Tagged asset prices, bond markets, ECB, economic cycle, European Central Bank, financial markets, Foreign exchange, global economy, Innovation, Interest rates, Productivity, regulation, Technology | 3 Comments

US triumphs in the World Economic Cup

Posted on June 12, 2014 by markcliffe

The legendary manager of Liverpool, Bill Shankly, once said, “Some people believe football is a matter of life and death… I can assure you it is much, much more important than that.” I’m tempted to agree, but sadly I get … Continue reading →