{"id":6467,"date":"2012-12-12T15:42:07","date_gmt":"2012-12-12T20:42:07","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=6467"},"modified":"2012-12-12T15:42:07","modified_gmt":"2012-12-12T20:42:07","slug":"new-research-from-finlands-central-bank-confirms-that-government-spending-is-causing-stagnation-in-europe-international-liberty","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/12\/new-research-from-finlands-central-bank-confirms-that-government-spending-is-causing-stagnation-in-europe-international-liberty\/","title":{"rendered":"New Research from Finland\u2019s Central Bank Confirms that Government Spending Is Causing Stagnation in Europe &#124; International Liberty"},"content":{"rendered":"<p>Dan Mitchell reports on new research from the Bank of Finland:<\/p>\n<blockquote style=\"background-color:#ddddff;\"><p>Europe suffers from a growth slowdown. The GDP growth in Europe has lagged behind the GDP growth in the US and has been far worse than the GDP growth in the NIC countries, particularly China\u2026 However, what is the reason for slow or rapid economic growth? \u2026In many respects, the labour market plays the key role in the economy because it determines both the use of the labour input and the level of overall competitiveness of a nation. Obviously, the functioning of the labour market is not independent of the public sector. A large government is almost inevitably associated with a large tax wedge, and the functioning of the labour market appears to be critically dependent on the size of the tax wedge. It may be fair to say that the harmful consequences of a high tax wedge are exceptionally well and unambiguously documented in the literature. \u2026On the basis of the estimates derived in this study, the following guide for growth policies appears to be warranted: \u2026Do not over-expand the welfare state. Larger governments are associated with slower growth rates.<\/p><\/blockquote>\n<p>Read more at <a href='http:\/\/danieljmitchell.wordpress.com\/2012\/12\/12\/new-research-from-finlands-central-bank-confirms-that-government-spending-is-causing-stagnation-in-europe\/?utm_source=twitterfeed&#038;utm_medium=twitter'>New Research from Finland\u2019s Central Bank Confirms that Government Spending Is Causing Stagnation in Europe \u00ab International Liberty<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dan Mitchell reports on new research from the Bank of Finland: Europe suffers from a growth slowdown. The GDP growth in Europe has lagged behind the GDP growth in the US and has been far worse than the GDP growth in the NIC countries, particularly China\u2026 However, what is the reason for slow or rapid &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/12\/new-research-from-finlands-central-bank-confirms-that-government-spending-is-causing-stagnation-in-europe-international-liberty\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;New Research from Finland\u2019s Central Bank Confirms that Government Spending Is Causing Stagnation in Europe &#124; International Liberty&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,33],"tags":[1527,2053,2071,3347,3663],"class_list":["post-6467","post","type-post","status-publish","format-standard","hentry","category-economy","category-uk-europe-countries-regions","tag-gdp-growth","tag-labor-markets","tag-large-government","tag-tax-wedge","tag-welfare-state"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>New Research from Finland\u2019s Central Bank Confirms that Government Spending Is Causing Stagnation in Europe &#124; International Liberty - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Research from Finland\u2019s Central Bank Confirms that Government Spending Is Causing Stagnation in Europe &#124; International Liberty - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Dan Mitchell reports on new research from the Bank of Finland: Europe suffers from a growth slowdown. The GDP growth in Europe has lagged behind the GDP growth in the US and has been far worse than the GDP growth in the NIC countries, particularly China\u2026 However, what is the reason for slow or rapid &hellip; Continue reading &quot;New Research from Finland\u2019s Central Bank Confirms that Government Spending Is Causing Stagnation in Europe &#124; International Liberty&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/12\/new-research-from-finlands-central-bank-confirms-that-government-spending-is-causing-stagnation-in-europe-international-liberty\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2012-12-12T20:42:07+00:00\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/12\\\/12\\\/new-research-from-finlands-central-bank-confirms-that-government-spending-is-causing-stagnation-in-europe-international-liberty\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2012\\\/12\\\/12\\\/new-research-from-finlands-central-bank-confirms-that-government-spending-is-causing-stagnation-in-europe-international-liberty\\\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"New Research from Finland\u2019s Central Bank Confirms that Government Spending Is Causing Stagnation in Europe &#124; 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\\\/2009 and 2020 bear markets well ahead of actual events. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-1Gj","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":50518,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/03\/28\/australian-jobs-gdp\/","url_meta":{"origin":6467,"position":0},"title":"Australian jobs &#038; GDP","author":"Colin Twiggs","date":"March 28, 2024","format":false,"excerpt":"Great research note by Gareth Aird at Commbank, where he predicts that the unemployment rate in Australia will rise to 4.5% by the end of 2024. The latest ABS report showed unemployment dropped to 3.7% in February, while the trend remained at 3.8%. Aird says the sharp rise in employment\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"Australian Unemployment Rate","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-03-21-aus-u3.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-03-21-aus-u3.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-03-21-aus-u3.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":6485,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/14\/productivity-in-ireland-mark-cassidy\/","url_meta":{"origin":6467,"position":1},"title":"Productivity: Ireland leads the way","author":"Colin Twiggs","date":"December 14, 2012","format":false,"excerpt":"Ireland now leads the United States in labor productivity as measured by GDP (converted to USD after adjusting for purchasing power parity) to hours worked by the workforce. Mark Cassidy writes on Ireland's strong productivity growth during the 1990s: Strong productivity growth during this period was largely driven by substantial\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13938,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/08\/10\/big-government-doesnt-kill-growth\/","url_meta":{"origin":6467,"position":2},"title":"Big government doesn\u2019t kill growth???","author":"ColinTwiggs","date":"August 10, 2016","format":false,"excerpt":"I take issue with this article published in Macrobusiness: Sorry Coalition, \u201cbig Government\u201d doesn\u2019t kill growth By Leith van Onselen During the Federal Election campaign, Labor\u2019s shadow treasurer, Chris Bowen, confirmed that the overall tax burden would hit 24.8% GDP by 2026-27 under Labor, up from 23.5% in 2019-20: Mr\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"ScreenHunter_14443 Aug. 10 08.40","src":"https:\/\/i0.wp.com\/www.macrobusiness.com.au\/wp-content\/uploads\/2016\/08\/ScreenHunter_14443-Aug.-10-08.40-397x660.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":26334,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/06\/16\/productivity-not-population-key-to-aussie-living-standards-macrobusiness\/","url_meta":{"origin":6467,"position":3},"title":"Productivity not population key to Aussie living standards | Macrobusiness","author":"Colin Twiggs","date":"June 16, 2021","format":false,"excerpt":"From Leith van Onselen at Macrobusiness: Former ALP minister Craig Emerson has penned an article in The AFR calling on the Morrison Government to tackle Australia\u2019s declining productivity growth, which is central to boosting the nation\u2019s living standards: \u201cProductivity growth has contributed 95 per cent of the improvement in Australians\u2019\u2026","rel":"","context":"In &quot;Aussie dollar&quot;","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3904,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/03\/21\/us-public-debt-growing-at-unsustainable-rate\/","url_meta":{"origin":6467,"position":4},"title":"US public debt growing at unsustainable rate","author":"Colin Twiggs","date":"March 21, 2012","format":false,"excerpt":"We often blame Fed monetary policy for the GFC, with interest rates at exceptionally low levels leading to \"Greenspan's bubble.\" Treasury was just as culpable, however, with the massive 2004-2005 surge in public debt flooding the market with liquidity. The repeat in 2008-2011 was more justifiable: the spike in public\u2026","rel":"","context":"In &quot;Debt Levels&quot;","block_context":{"text":"Debt Levels","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/debt-levels\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":47367,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/01\/18\/australian-households-feel-the-pinch\/","url_meta":{"origin":6467,"position":5},"title":"Australian households feel the pinch","author":"Colin Twiggs","date":"January 18, 2024","format":false,"excerpt":"Household disposable income (blue below) is contracting at the fastest rate in more than thirty years. Consumption growth (orange) is now close to zero and likely to fall further as savings are depleted. Fiscal drag -- caused by inflation pushing households into higher tax brackets -- has caused a sharp\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"Household Income","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/household-income-and-consumption.gif?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/household-income-and-consumption.gif?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/household-income-and-consumption.gif?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6467","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=6467"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6467\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=6467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=6467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=6467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}