Alesina , Alberto
Alberto Alesina is a professor of economics at Harvard University Department of economics He published numerous articles arguing that the fiscal contraction can be expansionary even in the short run. Particularly “Large Changes in Fiscal Policy: Taxes Versus Spending” 2010
Austerity in the UK after 2010
A definition Austerity is a form of voluntary deflation in which the economy adjusts to restore competitiveness through the reduction of wages prices and public spending, which is supposedly best achieved by cutting the state’s budget debt and deficit. Doing
Bear Stearns
Bear Stearns was an investment bank based in New York city. It collapsed during the sub prime crisis of 2008 It was founded in 1923 and survived the stock market crash of 1929 It was one of the world’s largest
Black Wednesday
On 16th of September 1992 a collapse in the pound sterling forced Britain to withdraw from the European exchange rate mechanism , the ERM. This day has since become known as Black Wednesday The ERM was introduced by the EU
Bretton Woods
The Bretton Wood Woods conference took place from 1 July – 22 July 1944 at the Mount Washington hotel, Bretton Woods New Hampshire. It was attended by representatives from 44 nations The purpose of the conference was to formulate a
Brexit
At 11pm , 31st December 2020 the UK left the European Union and implemented a new trading arrangement with Europe. The transition period , which had meant that nothing changed after the formal exit on 31st January 2020, came to
Brown , Gordon
Gordon Brown was Prime Minister of the UK from 2007 to 2010 having been Chancellor of the Exchequer from 1997 to 2007 under PM Tony Blair. Very soon after his appointment he had to deal with the 2007 2008 global
Crowding Out
American economist John Cochrane if the government borrows a dollar from you, that is a dollar that you do not spend. Jobs created by stimulus spending are offset by jobs lost from the decline in private spending. We can build
Darling, Alistair
Alistair Darling was apppointed Chancellor of the Exchequer by Gordon Brown in 2007 (when Brown bcame Prime Minister ) and held the role until 2010 His tenure coincided with the emerging Global Financial Crsiis and it aftermath. In September 2007
