{"id":709965,"date":"2010-04-06T13:38:20","date_gmt":"2010-04-06T17:38:20","guid":{"rendered":"tag:www.economist.com,21005864"},"modified":"2010-04-06T13:38:20","modified_gmt":"2010-04-06T17:38:20","slug":"country-inflation","status":"publish","type":"post","link":"https:\/\/mereja.com\/index\/709965","title":{"rendered":"Country inflation"},"content":{"rendered":"<p>HERE&#8217;S your quote of the day, from a new(ish) <a href=\"http:\/\/www.economics.harvard.edu\/faculty\/alesina\/files\/Monetary%2BPolicy%2Bdraftmarch23.pdf\">working paper<\/a> by Alberto Alesina and Andrea Stella:<\/p>\n<blockquote>\n<p>In 1947 at the end of the second world war there were 76 countries in the world. Today there are 193 (with a seat at the UN). Unless one believe that there is a natural &#8220;law&#8221; according to which each country has to have its own currency, either there were too few currencies in 1947 or there are too many today!<\/p>\n<\/blockquote>\n<p>The paper includes a nice and detailed analysis of the successes and failures of the European monetary union. Crises are unpredictable, and the current European sovereign debt mess could <a href=\"http:\/\/www.economist.com\/blogs\/buttonwood\/2010\/04\/sovereign_debt_crisis\">end very badly<\/a>, but it does seem to me that as member states really internalise the lesson that the single currency isn&#8217;t going away, the pace of structural reform in places which perceive themselves to be disadvantaged by policy in Frankfurt should increase.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>HERE&#8217;S your quote of the day, from a new(ish) working paper by Alberto Alesina and Andrea Stella: In 1947 at the end of the second world war there were 76 countries in the world. Today there are 193 (with a seat at the UN). Unless one believe that there is a natural &#8220;law&#8221; according to [&hellip;]<\/p>\n","protected":false},"author":2918,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4821],"tags":[],"class_list":["post-709965","post","type-post","status-publish","format-standard","hentry","category-news"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9NivD-2YH3","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts\/709965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/users\/2918"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/comments?post=709965"}],"version-history":[{"count":0,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts\/709965\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/media?parent=709965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/categories?post=709965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/tags?post=709965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}