Benn Steil

Geo-Graphics

A graphical take on geoeconomic issues, with links to the news and expert commentary.

Paul Krugman’s Baltic Bust—Part III

by Benn Steil and Dinah Walker Wednesday, October 9, 2013
Does Paul Krugman Still Believe in “Icelandic Miracles”?Photo Courtesy of Daniel Williams Does Paul Krugman Still Believe in “Icelandic Miracles”?
Photo Courtesy of Daniel Williams

Geo-Graphics posts in July 2010 and 2012 showed that Paul Krugman’s devaluation-driven “Icelandic Miracle” was nothing of the sort – a figment of his having chosen the most favorable possible starting date (Q4 2007) for his Baltic (and Irish) economic-performance comparisons.  Move it forward or back, and Krugman’s story collapses like a warming arctic ice shelf. Read more »