This article is only available to Macro Hive subscribers. Sign-up to receive world-class macro analysis with a daily curated newsletter, podcast, original content from award-winning researchers, cross market strategy, equity insights, trade ideas, crypto flow frameworks, academic paper summaries, explanation and analysis of market-moving events, community investor chat room, and more.
Skidelsky on crowding out and policy and poverty during the pandemic
Income and Poverty in the COVID-19 Pandemic (NBER, 65 page read) ‘Results indicate that at the start of the pandemic, government policy effectively countered its effects on incomes, leading poverty to fall and low percentiles of income to rise across a range of demographic groups and geographies.’ It worked.
The Crowding-Out Myth (Project Syndicate, 4 min read) Robert Skidelsky argues that governments crowding out investment is not empirically true. [Bullish equities]