Another instalment of miserable analysis to help maintain the festive spirit! This time, on cross-border shopping, patriotism and the real exchange rate.
Also, a paper by Olivier Blanchard on Portugal that got me thinking along these lines:
It all suggests that, as far as public sector pay is concerned, the commentariat is focused on quite the wrong question. It’s not whether there should be a public sector pay freeze, it’s how big the pay cut should be.