Have we forgotten CPEc was a game changer.

Now saudis are game maker ?!?!?!😀☺️😀😂😀😂

🚨Attention all international tax scholars! 💰🌍🧑‍🎓

We are super excited to share that our International Tax Institutions database became public!

The ITI provides in a single place the most relevant tax indicators for more than 200 jurisdictions over two decades 🧵

There is a negative relationship between debt servicing and primary deficit. While there are many factors which may affect spending in any given year, an increase in debt servicing burden decreases govt spending on non-debt expenditures (as % of GDP). Not surprised to be honest.

What does this figure tell you? To me, the near irrelevance of 7th NFC award to understanding the country's fiscal mess. The pre NFC world was no better, showing similar cycles/trends. The real challenge is whether people can unite to push back the intrenched interest groups.

Excess savings are now depleted according to the San Francisco Fed measure.

Future consumer spending growth relies on “continuous employment or wage gains, other forms of wealth”
write Hamza Abdelrahman and Luiz Oliveira

frbsf.org/research-and-i…

Today: from learning about a Bristol citizen, Mary Anne Galton, stand against slave trade in the 19th century to coming across many more protesting against the massacre in Gaza in the 21st century.

بیخود دہلوی

How monthly income compares across ages for an average working Pakistani. Increases up until early 50s before decreasing again (not enough data for people in late 70s or higher).

Surprised this paper title isn't 'Borjas was wrong'

(Immigration INCREASED the wages of less educated native workers.)
nber.org/papers/w32389

In case you missed it...The phoenix that never rises: what’s holding back #Pakistan ’s #economy ? By Ahmed Jamal Pirzada #EconTwitter 👇
buff.ly/4cr7PIs

Pakistan’s recent election has further eroded trust between citizens & the state. The economy continues to have low productivity growth & an unsustainably high burden of external debt. There are no signs these challenges will be addressed any time soon.
buff.ly/4cr7PIs

Interest expense equals close to 20% of firms EBIT in normal times and increases to as high as 40% when the interest rate doubles. Hard to believe the argument that changes in interest rate doesn't affect private investment in Pak - at least for listed companies.

New version of the Jordà-Schularick-Taylor Macrohistory Database released!
+Ireland thanks to Ronan Lyons &team
+new bank capital ratios &trilemma IV monetary shocks
+updated housing/equity returns
48 macrofinance variables,18 countries,1870-
ECONtribute
macrohistory.net/database/

Consumer spending, which accounts for almost 70% of nominal GDP, added 1.7 p.p. to real GDP growth in Q1, down from a 2.2 p.p contribution in 2023:Q4. The strong labor market & rising real wages continue to support consumer spending and overall economic activity. 5/

IMF programs are meant to provide space for adjustment & reform

They do so by providing money & catalyzing other inflows that build a country’s FX reserves & help them repay their external debtors

But Pakistan’s debt repayment needs are now so high that this won’t work …

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