« Productivity vs employment growth: a zero-sum game? | Main | The nature and significance of economic science: Lionel Robbins revisited »

Tuesday, December 11, 2007


Central Bank

I get the impression that the Bank of England rate decisions are hugely influences by property prices. Especially considering 70% of Britain's own their home.


Some people (like Michele Boldrin) suggest that the loose liquidity policy pursued by the Fed between 2001 and 2004 has fuelled the pyramidal creation of liquidity that has, apparently, contributed to the recent turmoilin the housing market. The fact that the Riksbank people tell us a story where the Fed has kept into account house prices in monetary policy seems a little odd to me. Did the Fed really focus on house pricing, disregarding what happened to the other segments of the financial markets? Or, rather, do house prices pick up a certain correlation with the stock index and... that's what the Fed looked at? Perhaps the Financial Times, more than certain ways of doing academic modelling, could reveal interesting patterns. Look at the inspiring commentary by Steve Cecchetti titled "Bernanke's Fed shows that it can be nimble", published on January 23 3008. Real food for thought.

Arthur Eckart

Free markets find ways to clear (complete article in link below):

"Teseniar, who works for the American Heart Association, went shopping with a real-estate agent. She found her dream house for $64,000, bid $50,000 on the foreclosed property and moved in this past November.

The previous owner walked away from the house when he got a new job in California, couldn't sell it and wouldn't pay the mortgage, she says. Left behind was a perfectly fine house with redone floors, wrought-iron fixtures and granite countertops.

"It was gorgeous. I couldn't breathe when I got it. It was so cool," says Teseniar, who is divorced and has a 4-year-old daughter. The price was right, too. She now pays $586 a month for her mortgage, taxes and insurance, $200 less than what she had been paying for rent. And she qualified for a 30-year Federal Housing Administration mortgage to buy it.

Then there are buyers like Lymaris Roman, a Tampa, Fla., pharmacist, and her husband. They saw opportunity, too, in a one-story home with four bedrooms in suburban Lutz, Fla. They bought it for $270,000, far less than its $400,000 appraised value. They moved in on Christmas Day.

Alex Szalay, a software writer from Pittsburgh, has redone two houses in the past 18 months. He says it's profitable to buy foreclosed homes that are in reasonably good shape. He bought one house for $72,000 and sold it for $117,000 a few months later in Sharon, Pa., about 30 miles north of Pittsburgh.

He recently bought a four-bedroom, three-bathroom home in Lakeland, Fla., for $240,000, made $30,000 in repairs and sold it for $365,000 within three months.

"When people tell you, 'Don't buy real estate,' well, you should buy real estate," Loughlin says. "People aren't going to stop retiring. Kids aren't going to stop graduating from colleges. This lag will catch itself, and there will be more demand than supply."

Sandy Muff, 31, an office manager in Tampa, Fla., decided to buy a bungalow last year for $70,000.

She's renting it out at $950 a month and paying a $900 monthly mortgage. She eventually hopes to sell the 950-square-foot home for $135,000, its current appraisal."


Arthur Eckart

Links sometimes don't copy properly on this site. Article titled: "Bargains: The sunny side of the housing slump" By Judi Hasson, MSN Real Estate March 2008

generic viagra

Excellent article! It’s just what i needed to understand. Happy Day’s

Lots in Guanacaste Costa Rica

Excellent information to many people like that read articles to learn about these issues of great interest.

travesti video

This article is very beautiful, I really get very beyendım text files manually to your health as you Travesti very beautiful and I wish you continued success with all respect ..

Thanks for helpful information Travesti siteleri you catch up us with your sagol instructional çok explanation.
en iyi travestiler en guzel

chesapeake va real estate

If inflation does kick in eventually, wouldn't this be a great tool for the central banks to use as as it is inherently deflationary.The only central bank i can think of which uses the reserve ratio as a tool coupled with interest rates is china, obviously they have an advantage in that they can take a long term view.

new houses for sale Philippines

Thanks for sharing this, In some country specifically Bank of England have reacted to house prices.


Aşk mektupları

nice article, useful information available. I wish good luck. this is me on the way

güzel söz
aşk sözleri
aşk şiirleri

Puma Clyde

The house is the place for you people! With it we are free from sun and wind! You speak very good! It enjoys popular support! Now we all need a house! Thank you for your willingness to share with us


This article is very beautiful, I really get very beyendım text files manually to your health as you Travesti.



nfl jerseys

I can't believe how much of this I just wasn't aware of. Thank you for bringing more information to this topic for me. I'm truly grateful and really impressed.

cheap air yeezy

A man can succeed at almost anything for which he has unlimited enthusiasm..


successHerve Leger dressesexpect
Herve Leger clothingearly

make sureHerve Leger clothing
desired piecesDiscount herve leger in minutes
eleganceChristian Louboutin SandalsThe creative vision
let me downChristian Louboutin Sandals Sale

leatherPrada SunglassesTalented artist
Oakley Sunglassesluxury
appealArmani Sunglassesthe most exciting

a href="http://www.designersunglasses-glasses.com/bvlgari-sunglasses-c-46.html">Bvlgari suglasses salethe detail
reallyBvlgari suglassesSpain
Cheap Bvlgari suglasses on slae

Martini Sunglassesed hardy kid tshirtsthe players
Ed Hardy Men Beach Pants
ed hardy hoodiesdisplay

a href="http://www.cheap-ed-hardy-clothing.com/ed-hardy-sunglasses-c-14.html">Cheap ed hardy sunglassesOne day
hardy clothingCheap ed hardy WomenApparently

ShopCheap Herve Leger Dressesthis summer
Discount Herve Leger Dressesmany times
my listHerve Leger Skirtall time

this reasonCheap Herve Leger Dress 2010well-known design
classifiedCheap Herve Leger Saleforever

a fewWomen Christian Audigier BagsApple floods

annually Women Christian Audigier Underwear
Women Christian Audigier Walletslogical

a piece of Christian Audigier Women Purses Discountthe pie
Christian Audigier Women Caps Discountfashion
Christian Audigier Women Hoodies Discountdaily

humanMBT Sandalswhy
questions MBT Sports Shoespanda
spend all day MBT Casual On Saleshopping

First offMBT SapatuGreen
United StatesWomen MBT Sapatu Sandalsconsumers
MBT Sapatu Men Sandals On Saleindustry

responsiblelouboutin pumps saleplanet
the environmentlouboutin shoes salebut also
pictureslouboutin boots saleshare

charmsMen Louboutin Shoesactivelytwo eras mightChristian Louboutin men sneakersextremelyin commonChristian loubout shoes discount salecollection

talking aboutDiscount Ghd Straightenerspecifically
Ghd Hair Straighteners Cheaplook like springGhd Hair Straighteners Cheapsport hardingBlue Serenity GHD IV Stylerstudentthe richDark GHD IV StylerteacherGHD Benefit StylershootsadnessHerve Leger Dress Discountdiscovery themeDiscount Herve Leger Dressstyler

fashionableDiscount Herve leger Bandage Dressincredible

sponserHerve Leger Clothing Cheapsurvival
encourageHerve Leger Clothing On Salelight
tell me truthDiscount Herve Leger Skirtdarling
a href="http://www.ugg-uk-australia.com/">ugg ukmistake
kateugg australiasomewhere
lineugg boots on salecan
theyuggs boots ukkinds
all bestuggs australiatheme

memoryugg 5359throw up
give meugg 1873its up to you
skyugg 5885closely

Jordans shoes

I believe natural appearance, similar thoughts, communicate well, care etc are most people request. The rest of them, just take it easy.


Çilek sex shop Mağzamızda En Kaliteli sex ürünleri, sex oyuncakları şişme bebek ve erotic shop erotik giyim Ürünlerini Bulabileceğiniz Gibi Ayrıca, penis büyütücü, geciktirici, Bayan Uyarıcı, Ürünlerde Temin Edebilirsiniz. 1994 ten Bu Yana En Kaliteli Orjinal Erotik Ürünlerini Sağlamakta Olan Çilek Erotik Shop ta Tüm Cinsel Ürünleri Bulabilirsiniz


Remove it from the loud sound described as among the People of the individual during sleep, especially in the medical sense, the most common cause of snoring soft palate observed in adults, little more than normal growth of the tongue, the muscles sag and lose tension and blockage of the airway during sleep titresmesidir little of the language.

Las Vegas Real Estate

I have never watched property programs. I watch Property Ladder, because I feel it’s very rude for a director to work very hard on a programs and you can’t be bothered to even watch it. So I do watch it, but I have to turn away when I’m on screen. It’s quite unpleasant seeing myself up there.

dark orbit


saç çikarici

Internet users in more than 2 billion people worldwide, 778 million the number of computers registered to the internet, the web of 313 million, a total of 205 million units in the name of that reported.

To the extent that there is hundreds of millions of blogs and video Ahmed, said that Turkey has been estimated that there's at around 30 million.

Ahmed, the computer recorded the number of Internet in Turkey has been reported around 4 million, 250 thousand under .. en told that the domain name.

diş beyazlatma kalemi

Save the essence of life in the treatment of skin allantoinle Snail! This essence creates a bad appearance and have no choice tahribatlarının skin no longer be removed even if the so-called cracks.

Nature of this herbal solution effectively and safely as possible to get rid of sivilcelerinizden! Skin care products on behalf of the choice deliberately choose to adhere and creams containing natural formulas that you keep the fault

Cheap Jordan Shoes

The words you need by the people you admire, such as the: Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired, and success achieved. College isn't the place to go for ideas. Death is no more than passing from one room into another. But there's a difference for me, you know. Because in that other room I shall be able to see. Everything has its wonders, even darkness and silence, and I learn, whatever state I may be in, therein to be content. Faith is the strength by which a shattered world shall emerge into the light.

extra jel

As millions of people who want to lose weight, but youDid he can not succeed in a kind of worry about your weight yanıyorsunuz more? You might think, and this process will be much easier to lose weight in a healthy way to get over ... Now a much more difficult as it used to have a nice view, but you have to do is that you want to attenuation.


Skönt att vara besöka din blogg igen, har det varit månader för mig. Väl här artikeln som jag har väntat så länge. Jag behöver den här artikeln för att slutföra mitt uppdrag i kollegiet, och den har samma tema med din artikel. Tack, bra aktie.@!@

mitsubishi klima servisi

Thanks for the info. Very useful topic

rüya tabiri

Thank you, a beautiful subject

rüya tabiri

Thank you, a beautiful subject


Hola,Ha hecho un trabajo muy bueno. Hay muchas personas en busca de eso ahora van a encontrar suficientes fuentes por tus consejos.espera para obtener más consejos acerca de que

Orlando Fl Golf Communities

I really enjoyed what you had to say. Keep going because you definitely bring a new voice to this subject. Not many people would say what youve said and still make it interesting. Well, at least Im interested. Cant wait to see more of this from you.

Nike Free

i agree with your views from here.


The raid content of the game on gold für wow release was limited to The Molten Core and Onyxia. gold in wow For the first three months that was plenty,gold in wow the most avid WOW players were still busy wowgold leveling and getting good gear from the high level five man instances. günstig wow gold The top guilds, however, would have these wow level encounters mastered in short order once they got into them.

The comments to this entry are closed.


  • TEST

  • Subscribe in NewsGator Online

Economist Weblogs



  • This is a personal web site, produced in my own time and solely reflecting my personal opinions. Statements on this site do not represent the views or policies of my employer, past or present, or any other organisation with which I may be affiliated. The information on this site is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities.