tag:blogger.com,1999:blog-4815867514277794362.post8558480084020149524..comments2024-03-08T06:18:28.125+11:00Comments on Bronte Capital: Sweden, Norway and a request for some decent macroeconomic modelsJohn Hemptonhttp://www.blogger.com/profile/03766274392122783128noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-4815867514277794362.post-41910665563353571482009-01-22T10:13:00.000+11:002009-01-22T10:13:00.000+11:00My impression is that formal economic models tend ...My impression is that formal economic models tend not to be very useful in dealing with modern financial markets, which is one reason why 'smart' academics like Krugman, de Long and Buiter can be at complete loggerheads over how to deal with the crisis. However, former RBA Governor Ian Macfarlane once made reference to an informal model - he called it the Australian model - which emphasised the importance of a floating exchange rate, and seems very consistent with your point. See http://www.rba.gov.au/Speeches/2005/sp_gov_131205.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-62828531112504084162009-01-20T06:35:00.000+11:002009-01-20T06:35:00.000+11:00once having spoked for 2% ownershipspoked?Willem B...<I>once having spoked for 2% ownership</I><BR/><BR/>spoked?<BR/><BR/><I>Willem Buiter is pamphleting about the UK joining the pound</I><BR/><BR/>Euro?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-69301000172646712232009-01-19T22:33:00.000+11:002009-01-19T22:33:00.000+11:00I think your logical chain breaks down. Norway and...I think your logical chain breaks down. Norway and Sweden both had financial crises, despite having their own currency.<BR/><BR/>What having your own currency may do is prevent other people's crises becoming yours.Anonymousnoreply@blogger.com