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Articole: 5

  1. AI – Putty-Putty or Hard-Baked Clay?

    (Andrew Smithers – Author)

    Introduction.

  2. Coming to Terms with Fiscal and Trade Deficits

    (Andrew Smithers – Author)

    Published in: American Affairs, Fall 2025 / Volume IX, Number 3 John Maynard Keynes recognized that countries with persistent current account surpluses posed a threat to the world economy, but no agreement was reached at Bretton Woods, nor in any subseque…

  3. Tangible and Intangible Capital

    (Andrew Smithers – Author)

    Published in: World Economics • Vol. 26 • No. 2 • April-June 2025 [original pdf] Key Points Major changes in national accounting were introduced between 1999 and 2012 by recategorizing spending on intellectual property (IP or IPP) as ‘final’ rather than ‘…

  4. How Share Prices Fluctuate

    (Andrew Smithers – Author)

    Published in: World Economics • Vol. 25 • No. 4 • October–December 2024 [original pdf] Key Points The stationarity of the stock market’s value (q) and the mean reversion of its real return are its most obvious and exceptional characteristics.

  5. Box X: Pensions, Savings and Investment

    (Andrew Smithers – Author)

    By Andrew Smithers Published by the NIESR in their Autumn 2024 UK Economic Outlook on 6th November 2024.