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Stefan Gerlach
@HmsGerlach
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Chief Economist, EFG Bank; ex-Deputy Governor, CB of Ireland; ex-Executive Director, HKMA; ex-BIS and ex-Prof at Goethe Uni and Brandeis. (Views mine.)🇨🇭🇸🇪
Zurich, Switzerland
Joined July 2015
RT @bearaboi: The Swedish flag on the Samuel Beckett Bridge tonight to mark Sweden officially opening their Embassy in Dublin today🇸🇪🇮🇪🇪🇺…
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RT @SNB_Observatory: New report on the SNB's exchange rate policy. While it has used FX intervention extensively since 2008, it only acknow…
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@WielandVolker Indeed, but that is not because of the smaller public debt. Flexible labor markets and an efficient public administration, arising from more pragmatism and less religion in public policy. Perhaps also less dependence on a single sector/export market?
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@lexhoogduin Again we agree. The question is whether consumption should be cut one-for-one as investment rises or if some borrowing makes sense. Since the returns on investment come in the (far) future, it seems to me that some limiting borrowing makes sense. This is the mortgage analogy.
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@lexhoogduin So we agree, except on the question on whether saving should come before investment. This is where my mortgage analogy comes in.
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