PPP is very subjective - just like those comparator indices in the Brexit paper I analysed. If you change some of the weights in your indices relatively little, you can cause a huge change in the res… (View Post)

It has been a pleasure for me to write them and thanks to TSE for posting them. And, though of course lots of commenters have disagreed with me (it would not have been worth writing on a non-controve… (View Post)

Thanks for the comment. That was one of the things I had to edit out of the paper, in which I pointed out that around 4% of the EU's budget goes on public administration so such sums are relativ… (View Post)

Apologies by the way. I'm afraid my pledge to make this article significantly shorter than the last one was about as trustworthy as a Keir Starmer campaign promise and had about as long a life. (View Post)

No, basic economics shows they are intimately related. The lack of sufficient new housing where people want to live has meant, together with falling real interest rates for much of that time, that ho… (View Post)