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Core Economics

Commentary on Economics, Strategy and More

Last Build Date: Mon, 13 Nov 2017 17:49:28 +0000


Why Blockchain has no economic futurepaulfrijters

Mon, 13 Nov 2017 17:49:20 +0000

When Bitcoin went public in 2009 it introduced to the world of finance and economics the technology of blockchain. Even the many who thought Bitcoin would never make it as a major currency were intrigued by the BlockChain technology and a large set of new companies have tried to figure out how to offer new … Continue reading "Why Blockchain has no economic future"(image)

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I guess I can’t run for Australian Parliamentcoreecon

Thu, 02 Nov 2017 22:25:28 +0000

I’m not sure if anyone was hoping I might return to Australia one day and run for Parliament. I certainly never thought about it. But it had never occurred to me that I might be prohibited from doing so. After all, I am an Australian citizen, was born in Australia, and right at the moment … Continue reading "I guess I can’t run for Australian Parliament"(image)

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EU plans for VAT taxation are doomed to fail. Again.paulfrijters

Mon, 09 Oct 2017 16:25:26 +0000

Taxation is the potential downfall of the EU as an institution. The reason is that within the EU, several member states are making money from the tax evasion in other member states, a situation akin to having a wife slowly murdering her husband with poison. Unless this stops, a divorce becomes inevitable. Luxemburg, the Netherlands, … Continue reading "EU plans for VAT taxation are doomed to fail. Again."(image)

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Why would banks eliminate ATM fees?coreecon

Sun, 24 Sep 2017 12:09:19 +0000

Over the past two days, the four major Australian banks have eliminated ATM fees charged to users who are not their customers who use their ATMs. This is great news for people who do not use ATMs of their own banks. They no longer have to pay the fees — that have been transparent since … Continue reading "Why would banks eliminate ATM fees?"(image)

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Is cross-ownership a competition problem in Australia?coreeconmartincschmalz_2017-Mar-16 3.jpgmartincschmalz_2017-Mar-16 2.jpgmartincschmalz_2017-Mar-16.jpgmartincschmalz_2017-Mar-16 1.jpg

Thu, 16 Mar 2017 14:33:19 +0000

Possibly. First some context. I raised this issue a couple of years ago in a post here. It was motivated by new research in the US on the impact of cross-ownership by institutional investors on competition in US airlines. So ask yourself: when those shareholders vote on the composition of boards or the management of … Continue reading "Is cross-ownership a competition problem in Australia?"(image)

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Will pricier soda lead to slimmer waistlines?gigifosterunsweduau

Thu, 23 Feb 2017 00:27:51 +0000

Policies that can be set in motion with little more than the stroke of a pen can be very seductive. That’s particularly true with policies that appear to have the same hue as some major social problem, since lawmakers can use that problem as a rationale for the policy, and hope that no one thinks … Continue reading "Will pricier soda lead to slimmer waistlines?"(image)

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In Memoriam Thomas C. Schellingaortmannphd

Tue, 13 Dec 2016 21:32:40 +0000

Tom Schelling was a US American economist (born April 14, 1921); until his death yesterday (Aussie time) he was Distinguished Professor of Economics at the University of Maryland, College Park. He was awarded the 2005 Nobel Memorial Prize in Economic Sciences which he shared with Robert Aumann, a belated completion of the NASH quartet that … Continue reading "In Memoriam Thomas C. Schelling"(image)

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Tot ziens Australie!paulfrijters

Wed, 07 Dec 2016 07:59:50 +0000

It’s been a great 15 years in Australia for me and the family, so we will be leaving lots of friends and colleagues behind as we seek new adventures in London, where from next week onwards  I will be part of a Wellbeing centre, pretty much the same topic as the Australian Research Council has … Continue reading "Tot ziens Australie!"(image)

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In Memoriam Reinhard Selten (1930 – 2016)aortmannphd

Thu, 01 Sep 2016 20:55:09 +0000

German economist extraordinaire Reinhard Selten has died. Born October 1930, he was 85. In 1994 he was awarded the Nobel Memorial Prize in Economic Sciences which he shared with John Harsanyi and John Nash, three quarters of the NASH quartet of Nash, Aumann, Selten, Harsanyi that has been widely credited to have advanced decisively the theory of … Continue reading "In Memoriam Reinhard Selten (1930 – 2016)"(image)

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What she sees at the revolutionaortmannphd

Tue, 16 Aug 2016 21:59:18 +0000

Peggy Noonan is a writer and columnist for the WSJ.  Part of her reputation stems from her writing speeches for Reagan and the elder Bush, and for coming up with memorable phrases. Some of these phrases apparently did not work out well for whom she coined them. Read my lips. In a recent WSJ opinion … Continue reading "What she sees at the revolution"(image)

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