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Extending the liabilities’ time horizon is key to pensions reform

by Andrew Smithers | Jun 14, 2023 | News, Press

From Andrew Smithers, London W8Published in the FT 14 June, 2023 Martin Wolf is correct when he writes that “reforming the failing pensions system is a priority” for the UK (Opinion, June 12). The essential change is to the economic theory used. To achieve the full...

Zombie Companies, Low Investment and Low Interest Rates

by Andrew Smithers | Jan 20, 2023 | News, Papers

World Economics • Vol. 23 • No. 4 • October–December 2022 Key Points The number of zombies has risen this century and growth has slowed. Both have a common cause in the bonus culture but, unlike Japan after 1990, there is no direct causal link. Ultra-low interest...

Podcast: The Road to Economic Stability ft. Andrew Smithers

by Andrew Smithers | Jul 27, 2022 | News, Podcasts

Ideas Lab Series No. 5 Today, we are joined by Andrew Smithers, Author, Economist and Founder of Smithers & Co, to discuss how we can achieve economic stability, based on his book, “The Economics of the Stock Market”. We address the Q Ratio and why it is important...

The Stock Market Model: A New Foundation for Economic and Monetary Policy.

by Andrew Smithers | Jun 1, 2022 | News, Papers

Economic policy aims to preserve stability by keeping inflation stable and unemployment at historically low levels. Decisions about how to achieve these aims are inevitably based on some theo-ry, and these theories fall into two main groups: those which are usually...

What you thought you knew about interest rates and the market is wrong

by Andrew Smithers | Mar 30, 2022 | News, Press

FT – Opinion , 30th March 2022 Conventional macroeconomics is mistaken and its errors have profound and adverse consequences for economic policy. Many economists believe that central banks can stabilise economies by altering real interest rates, as the US...
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