Archive for June 27th, 2025

Hiroshima: Resilience of city structure after the atomic bombing

June 27, 2025

Kohei Takeda and Atsushi Yamagishi in this voxeu research:

Cities have faced a host of shocks throughout history, including earthquakes, hurricanes, coastal flooding, and storm surges, as well as wartime destruction, such as in the current Russia-Ukraine conflict. This column looks at one of the most dramatic events in history, the atomic bombing of the city of Hiroshima in Japan, to explore the mechanisms that underlie the resilience of city structure. Strong agglomeration forces are required to explain the re-emergence of the city centre in the aftermath of the bombing, and they imply the existence of multiple equilibria. Public policymakers can play a key role in fostering the resilience of cities by helping to coordinate expectations about patterns of recovery.

The Penny Dilemma

June 27, 2025

The US government has decided to withdraw the penny (1 cent coin) from circulation.

Oz Shy of Atlanta Fed analyses what this would mean for transactions:

In summary, economic theory suggests that removing the penny is likely to reduce the burden of cash payments in the economy, although the effect appears relatively small in our research, perhaps because some cash payments are already rounded to their nearest 5-cents value either at the point-of-sale or by our survey respondents.

100 years of Britian return to Gold Standard: Revisiting the Norman Conquest of $4.86

June 27, 2025

During World War I, Britain and other countries stopped following gold standard. In 1925, Britain returned to gold standard amidst lot of debates and discussions.

Andrew Bailey, Governor of Bank of England reflects on 100 years of one of the major decision in British economic history:

(more…)


Design a site like this with WordPress.com
Get started