Paul Krugman

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A 100 billion Zimbabwean dollar note in a country where hyperinflation is rife. The stability of inflation seems to be a reward for the credibility of inflation targeting. That gives policymakers room to risk expansionary policies.

Why are the high-income countries not mired in deflation? This is the puzzle today, not the absence of the hyperinflation that hysterics have w(...)

A man withdraws money from an automatic teller machine at a branch of Bank of Cyprus. A euro zone proposal would see Cyprus receive a bailout worth ¤10 billion but it has demanded depositors in its banks forfeit some money to stave off bankruptcy. Photograph: Reuters

Cyprus has postponed its parliamentary vote on a bank deposits levy until tomorrow.  Yiannakis Omirou, the speaker of parliament, said the(...)

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