Word: economisters
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Summers considered scrapping the center altogether after economist Kenneth S. Rogoff, the Cabot professor of public policy, stepped down as director last spring after one year on the job. But Rosenzweig was ultimately named as a replacement, and the center’s future appeared momentarily secure...
...Bours view the equity in their home as a smart source of cash for the lifestyle they intend to maintain. And they are far from alone. In 2004, Americans took almost $400 billion in cash out of their homes in refinancing and home-equity loans, says David Lereah, chief economist for the National Association of Realtors. People ages 45 to 59 are the most likely to refinance, according to Demos, a nonprofit public-policy organization in New York City. Is refinancing so close to retirement a smart financial move...
...times the energy that the U.S. uses, and nine times what Japan consumes. Analysts now worry that the economy is finally beginning to show the strain. "We're particularly concerned that rising energy costs will amplify the existing squeeze on corporate profit margins in China," says Ben Simpfendorfer, an economist at JPMorgan Chase in Hong Kong. Indeed, Shanghai Petrochemical, a unit of the state-owned oil company Sinopec, warned last week that profits in the second half of this year will decline significantly. If other companies feel a similar pinch, as Simpfendorfer fears, that could crimp one of the main...
...lower prices?and keeps them down?for everything from underwear to DVD players. "If you had asked two years ago where the economy would be if oil hit $65 a barrel, we would have been far less upbeat than we are today," says Mark Wall, a London-based European economist for Deutsche Bank...
...Despite record-high oil prices, most economists expect the world economy to grow by at least 4% this year. While that's down from last year's stellar 5% growth, it's more than double the euro zone's growth rate and is enabling companies such as Degussa and its German competitors to raise prices and offset more than j1 billion in extra raw-material costs. "High oil prices certainly still matter, but probably only half as much as they did 15 to 20 years ago," says Kenneth Rogoff, former chief economist at the International Monetary Fund...