Tuesday, October 13, 2020

Economics Nobel for auctions rewards work that has modern-age urgency

Paul Milgrom (left) and Robert Wilson share the 2020 Nobel prize in economic sciences for improvements to auction theory and invention of new auction formats. Credit: Elena Zhukova for the Stanford Graduate School of Business

The 2020 Nobel prize in economic sciences rewards work on an ancient form of transaction that has acquired new complexity and urgency in the modern age: the auction.

Insights in auction theory made by Paul Milgrom and Robert Wilson, both of Stanford University in California, have found applications ranging from the pricing of government bonds to the licensing of radio-spectrum bands in telecommunications.

Date: 2020-10-13
Twitter: @nature
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World Economic Outlook Database

The World Economic Outlook (WEO) database contains selected macroeconomic data series from the statistical appendix of the World Economic Outlook report , which presents the IMF staff's analysis and projections of economic developments at the global level, in major country groups and in many individual countries. The WEO is released in April and September/October each year.

Use this database to find data on national accounts, inflation, unemployment rates, balance of payments, fiscal indicators, trade for countries and country groups (aggregates), and commodity prices whose data are reported by the IMF.

Publisher: IMF
Date: 2020-10-13
Twitter: @IMF
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Two American Professors Win Nobel Prize In Economics : NPR

Stanford University professors Paul Milgrom and Robert Wilson won the 2020 Nobel Memorial Prize in Economic Sciences for their work in understanding and designing auctions.

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When you hear the word auction, you might think of a cattle barn or an art gallery. But auctions are now used to selling everything from Internet search ads to carbon pollution credits. Two Stanford professors were awarded the Nobel Prize in economics today for research on designing better auctions. NPR's Scott Horsley reports.

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Publisher: NPR.org
Date: 2020-10-12
Twitter: @NPR
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India economy: Economists not impressed by latest fiscal stimulus

SINGAPORE — Economists were not impressed by India's latest economic stimulus aimed at boosting domestic demand by about 730 billion rupees ($9.94 billion) — and some questioned if the new measures can spur long-term growth.

The finance ministry introduced several measures on Monday aimed at spurring consumer spending and bolstering demand in the pandemic-hit economy that saw growth tumble 23.9% between April to June.

"The amount of demand stimulus is underwhelming, and we view the impact on ... growth as quite limited," according to a Nomura note on Monday.

Publisher: CNBC
Date: 2020-10-13T06:25:35 0000
Author: https www facebook com CNBC
Twitter: @CNBC
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China Growth Limits Global Economic Damage From Pandemic, IMF Says - WSJ

The global economic collapse caused by the coronavirus won't be as severe as estimated earlier, the International Monetary Fund predicted Tuesday, thanks to strong government intervention world-wide and a swift recovery in China.

The world's gross domestic product is forecast to decline by 4.4% this year, not as sharp as the 5.2% drop the IMF projected in June but still the most severe downturn since the Great Depression. World output will grow 5.2% in 2021, down from an earlier estimate of 5.4%.

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Publisher: WSJ
Date: 2020-10-13T20:08:00.000Z
Author: Josh Zumbrun and Yuka Hayashi
Twitter: @WSJ
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India Turns to Economic Overhaul as Growth Prospects Slide Amid Coronavirus - WSJ

NEW DELHI—With India facing an economic crisis brought on by the coronavirus pandemic, Prime Minister Narendra Modi is looking to deregulation as the cure.

The changes pushed through in recent weeks by his Bharatiya Janata Party, affecting everything from factory floors to farming, have so far led to more confusion than acclaim, but economists say the economic overhaul could ultimately improve India's troubled growth prospects.

Publisher: WSJ
Date: 2020-10-13T11:00:00.000Z
Author: Bill Spindle and Vibhuti Agarwal
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