Paul Krugman's Baltic Problem
Well, since I'm writing about the K-man today, I thought I'd link up to this interesting piece by Swedish economist Anders Aslund: Paul Krugman's Baltic Problem.
Seems like Krugman's little IS-LM model made a few wrong predictions too. I guess the science isn't quite a settled as he would like us all to believe.
In any case, I haven't studied the Baltic region in any great detail. If there are any experts out there that would like to weigh in here, please do. My prior is that both Krugman and Aslund have some legitimate explanations for what is driving the Baltic recovery and expansion. But maybe one side is more persuasive than the other? What is the evidence? Would be interested to hear what people have to say, especially from those who know the area well.
Seems like Krugman's little IS-LM model made a few wrong predictions too. I guess the science isn't quite a settled as he would like us all to believe.
In any case, I haven't studied the Baltic region in any great detail. If there are any experts out there that would like to weigh in here, please do. My prior is that both Krugman and Aslund have some legitimate explanations for what is driving the Baltic recovery and expansion. But maybe one side is more persuasive than the other? What is the evidence? Would be interested to hear what people have to say, especially from those who know the area well.
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