FURTHER FURTHER READING
- The San Francisco exodus.
- Why the Efficient Markets Hypothesis merited a Nobel.
- What's an economist to do without government data?
- Why CEO pay keeps going up.
- Gavyn Davies on the economics of Janet Yellen.
FT EVENING ROUND-UP
Obama to meet lawmakers as debt deadline looms: "Clashes between Democrats and Republicans in Washington since 2010 have cut one percentage point from US growth and cost the nation 2m jobs over three years, according to a report by Macroeconomic Advisers, the economic research group. The dire assessment was released as the US entered the third week of a government shutdown, with less than 100 hours to go before the nation faced the first possible default on its debt due to political paralysis in the capital." (Financial Times)
Fama, Hansen and Shiller win Nobel Prize for economics: "The Nobel Prize for economics has been awarded to a trio of American academics for their work on what drives asset prices, a controversial question which goes to the heart of the current macroeconomic debate over the crisis. Eugene Fama, Lars Peter Hansen and Robert Shiller have all spent their careers analysing how the value of assets, such as stocks and bonds, vary over time. However, mirroring the broad disagreements which typically characterise the economics profession, the three scholars have come to radically different conclusions. " (Financial Times)
ONGC raises stake in Petrobras field: "Oil and Natural Gas Corp will invest $500m to acquire an additional 12 per cent stake in a Brazilian oilfield from state-backed operator Petrobras, blocking a previous bid from China's Sinochem." (Financial Times)
