(RTTNews) - Monday, the Hungarian Central Statistical Office announced that the retail sales decreased a calender adjusted 7.3% year-on-year in September, compared to the 7.2% fall in the previous month. Economists expected a decline of 6.6%. A year ago, retail sales were down 1.2%. On a monthly basis, retail sales dropped a seasonally and calendar ...

November 19th, 2009 - By Miguel Almunia, Agustín S. Bénétrix, Barry Eichengreen, Kevin H. O’Rourke, Gisela Rua There is one important source of information on the effectiveness of monetary and fiscal stimulus in an environment of near-zero interest rates, dysfunctional banking systems and heightened risk aversion that has not been fully exploited: the 1930s. This column ...
Author: Barry Eichengreen