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Monday, January 16, 2006

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Edward Hugh

Fascinating programme. I am not a great admirer of the work of Joaquim Oliveira Martins, but he is at least interested in the right problems:

"These convergence scenarios, however, are often produced on a rather ad-hoc basis. Notably, they are often derived from exogenous population and labour productivity assumptions that may not be internally coherent in terms of the structural feedback mechanisms and policies needed to support a given convergence path."

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Notably, they are often derived from exogenous population and labour productivity assumptions that may not be internally coherent in terms of the structural feedback mechanisms and policies needed to support a given convergence path

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