Podcasts about voxeu

What if trade policy wasn't really about trade at all? What if it was about revenge, power, and punishment, tariffs as tantrums and diplomacy as drama? You won't find the Grievance Doctrine in economics textbooks, but there is one book that explains what it is, what its policies are, and the way it is currently being implemented. Richard Baldwin of IMD Business School in Lausanne, the founder and the Editor-in-Chief of VoxEU is also the author of “The Great Trade Hack”. In it, he sets out the way the Grievance Doctrine has been weaponised by this US administration, how the rest of the world could respond, and what might happen next. Richard joins Tim Phillips to explain the thinking that guides policy one of the most extraordinary periods in the history of trade – and why the rest of world will do just fine without the US as an ally. Download The Great Trade Hack.

Getting accepted to an elite PhD programme with a superstar advisor seems like “making it” if you want a research career in economics. But is it? How productive will those young, talented economists become? Half of elite economics PhDs from programmes at MIT, Harvard, Stanford and similar institutions publish next to nothing in the six years after they get their doctorate, and only 10% publish more than a paper or two. Josh Angrist of MIT & Marc Diederichs, University of Passau have studied what they call the economics PhD education production function at elite universities in the US. Tim Phillips asks them how, if these elite programmes are designed to create scholars who go on to publish their research consistently, can the institutions or their advisors do a better job of helping that to happen? Read about the research on VoxEU https://cepr.org/voxeu/columns/prolific-phd-advisors-are-no-guarantee-graduate-student-research-success

President Trump, aided by DOGE under Elon Musk, promised deep cuts to the US federal bureaucracy. In these cases, and many others in recent history, populist politicians complain about a bloated and unelected “administrative state” that they inherit from a previous regime. They say these public employees frustrate their ability to deliver on their promises. Others argue that a bureaucracy contains the experts that are needed to make policy function smoothly – and removing them will make government function less, not more, efficiently. So how do populists typically deal with their bureaucrats, and what are the consequences? An analysis of Italian local politics that was published recently might help us to understand what is happening in the US now, and what might happen next. Matia Vannoni of King's College London was one of the authors. He talks to Tim Phillips about what happens when we expel the experts. Read Matia's research on VoxEU (https://cepr.org/voxeu/columns/expelling-experts-cost-populism-bureaucratic-expertise-and-government-performance) Photo: Gage Skidmore

Make 2025 your year! Free 2-part Workshop to build 3 new habits January 3 and 10th  – 12 Noon Eastern – 1 hour via Zoom Sign Up here _________________________ While we focus on the non-financial aspects of retirement here, your money clearly matters. With a new year around the corner we check back in with economist Larry Kotlikoff, author of Money Magic: An Economist's Secrets to More Money,Less Risk and a Better Life, for his views on what may lie ahead, common mistakes to avoid with Social Security, how you can Maximize (Your) Social Security, why Roth IRA conversions make sense for many people and his retirement planning software MaxiFi. Larry Kotlikoff joins us from Rhode Island. _________________________ Bio Laurence J. Kotlikoff is a William Fairfield Warren Professor at Boston University, a Professor of Economics at Boston University, a Fellow of the American Academy of Arts and Sciences, a Fellow of the Econometric Society, a Research Associate of the National Bureau of Economic Research, President of Economic Security Planning, Inc., a company specializing in financial planning software, a Research Associate of the Gaidar Institute, and a Research Fellow of the Goodman Institute. Kotlikoff is also a New York Times Best Selling author. The Economist Magazine ranked Kotlikoff one of the world's 25 most influential economists. Professor Kotlikoff received his B.A. in Economics from the University of Pennsylvania in 1973 and his Ph.D. in Economics from Harvard University in 1977. From 1977 through 1983, Kotlikoff served on the faculties of economics of the University of California, Los Angeles and Yale University. In 1981-82 Professor Kotlikoff was a Senior Economist with the President's Council of Economic Advisers. Professor Kotlikoff's writings and research address personal finance, inequality, taxation, Social Security, climate change, investing, healthcare, deficits, and insurance. Professor Kotlikoff is author or co-author of 20 books, hundreds of professional journal articles, and a multitude of op eds and blogs. His most recent books are Money Magic: An Economist's Secrets to More Money,Less Risk and a Better Life, You're Hired, Get What's Yours – the Revised Secrets to Maxing Out Your Social Security (a NY Times Best Seller co-authored with Philip Moeller and Paul Solman), The Clash of Generations (co-authored with Scott Burns), The Economic Consequences of the Vickers Commission, Jimmy Stewart Is Dead, Spend ‘Til the End, (co-authored with Scott Burns), Generational Policy (MIT Press), The Healthcare Fix, and The Coming Generational Storm (co-authored with Scott Burns). Kotlikoff's columns have appeared in The NY Times, The Wall Street Journal, The Washington Post, The Hill, The Financial Times, The Times of London, Forbes, CBNC, Bloomberg, PBS NewsHour, The Dallas News, Neue Zürcher Zeitung, the Seattle Times, Vox, Fortune, Seeking Alpha, Yahoo.com, VoxEU, Huffington Post, and other leading media. Kotlikoff has served as a consultant to the Federal Reserve, the International Monetary Fund, the World Bank, the Harvard Institute for International Development, the Organization for Economic Cooperation and Development, the Swedish Ministry of Finance, the Norwegian Ministry of Finance, the Bank of Italy, the Bank of Japan, the Bank of England, the Government of Russia, the Government of Ukraine, the Government of Bolivia, the Government of Bulgaria, the Treasury of New Zealand, the Office of Management and Budget, the U.S. Department of Education, the U.S. Department of Labor, the Joint Committee on Taxation, The Commonwealth of Massachusetts, The American Council of Life Insurance, Merrill Lynch, Fidelity Investments, AT&T, AON Corp., and other major U.S. corporations. Kotlikoff has provided expert testimony on numerous occasions to committees of Congress including the Senate Finance Committee, the Senate Budget Committee, the House Ways and Means Committee,

US federal debt is expected to grow to historic highs in the next 10 years, and the interest bill for that debt will continue to grow too. But does it matter? Yes, say Giancarlo Corsetti and Riccardo Trezzi They tell Tim Phillips about the unpalatable policy options if the US wants to stabilise its ballooning debt and interest payments. Read their VoxEU column

Dr. Ali Hasanain comes on The Pakistan Experience to explain how keeping the Dollar artificially low in Pakistan is bad for the Economy in the long run. On this deep dive episode, we discuss how the Central Nervous System of Pakistan is broken, Fixing the Exchange Rate, Deficits, Imports, Exports, Trade with India, CPEC, the Tax Code, and more. Dr. Ali Hasanain is an Associate Professor at the Lahore University of Management Sciences (LUMS). He served as the Head of Department from 2019 to 2022. Dr. Hasanain's research focuses primarily on how public service delivery can be improved through reform initiatives, particularly through technological progress and improvements in the media. He also studies how information and communication technologies (ICT) can improve market functioning. Dr. Hasanain's research has been featured in The Guardian, Economist, Huffington Post, various World Bank blogs, VoxEU, VoxDev, Herald, Friday Times, Dawn, and other media outlets, as well as been the topic of the feature story of the World Bank's global website. He is a member of Evidence in Governance and Politics (EGAP), a Senior Research Fellow at the Mahbub ul Haq Research Center, a member of the research board of PRIME Institute, a Fellow of the Consortium of Development Policy Research (CDPR), and a faculty advisor at the Technology for People Initiative (TPI). From 2014 to 2016, he was a Global Leaders Fellow at Oxford and Princeton universities. The Pakistan Experience is an independently produced podcast looking to tell stories about Pakistan through conversations. Please consider supporting us on Patreon: https://www.patreon.com/thepakistanexperience To support the channel: Jazzcash/Easypaisa - 0325 -2982912 Patreon.com/thepakistanexperience And Please stay in touch: https://twitter.com/ThePakistanExp1 https://www.facebook.com/thepakistanexperience https://instagram.com/thepakistanexpeperience The podcast is hosted by comedian and writer, Shehzad Ghias Shaikh. Shehzad is a Fulbright scholar with a Masters in Theatre from Brooklyn College. He is also one of the foremost Stand-up comedians in Pakistan and frequently writes for numerous publications. Instagram.com/shehzadghiasshaikh Facebook.com/Shehzadghias/ Twitter.com/shehzad89 Chapters 0:00 Introduction 1:30 Fixed Exchange Rate and Keeping the Dollar artificially low 8:00 GDP per Capita, Poverty and Income Inequality 14:00 Fiscal deficits and Problems with the artificial Dollar Rate 32:00 Miftah Ismail's policies and fluctuating Dollar Rates 38:30 How can we fix the Economy and the Military Regime 58:00 Relationship and Trade with India 1:03:00 Fixing the Tax Code, Electoral Reforms and Creating the Knowledge Base 1:16:00 CPEC 1:23:00 Broken Nervous System of the Nation 1:36:30 Audience Questions

EPISODE 1823: In this KEEN ON show, Andrew talks to Branko Milanovic, author of VISIONS OF INEQUALITY, about how different economists have made sense of economic inequality over the last 250 yearsBRANKO MILANOVIC is a Senior Scholar at the Stone Center on Socio-Economic Inequality at the CUNY Graduate Center and the author of the forthcoming Visions of Inequality: From the French Revolution to the End of the Cold War. Branko's main area of work is income inequality, in individual countries and globally, including in pre-industrial societies. He has published articles in The Economic Journal, Review of Economics and Statistics, Journal of Economic Literature, Economic History Review, and Journal of Political Philosophy, among others. His book, The Haves and the Have-nots (2011) was selected by The Globalist as the 2011 Book of the Year. His book Global Inequality (2016), was awarded the Bruno Kreisky Prize for the best political book of 2016, and Hans Matthöfer Prize in 2018, and was translated into sixteen languages. It addresses economic and political effects of globalization and introduces the concept of successive “Kuznets waves” of inequality. In March 2018, Branko was awarded (jointly with Mariana Mazzucato) the 2018 Leontief Prize for Advancing the Frontiers of Economic Knowledge. His new book Capitalism, Alone was published in September 2019. He has contributed numerous op-eds and essays to Social Europe, VoxEU, The Guardian, Foreign Affairs, Foreign Policy, Vox, The Financial Times, Le Monde, El Pais, La Vanguardia, Le Monde Diplomatique and blogs ProMarket (U of Chicago), Global Policy (Durham University), Brave New Europe (Berlin). His blog posts are regularly translated into Spanish (Letras Libres), German (Makronom), Italian (Fata Turchina) and French (Atlanico).Named as one of the "100 most connected men" by GQ magazine, Andrew Keen is amongst the world's best known broadcasters and commentators. In addition to presenting KEEN ON, he is the host of the long-running How To Fix Democracy show. He is also the author of four prescient books about digital technology: CULT OF THE AMATEUR, DIGITAL VERTIGO, THE INTERNET IS NOT THE ANSWER and HOW TO FIX THE FUTURE. Andrew lives in San Francisco, is married to Cassandra Knight, Google's VP of Litigation & Discovery, and has two grown children.

Manmohan Singh is a senior economist at the International Monetary Fund and works on rehypothecation, shadow banking, the plumbing of the monetary system, and more. Manmohan joins Macro Musings to talk about stablecoins, central bank balance sheets, central bank digital currencies, and their broader implication for central banks. David and Manmohan specifically discuss the role and structure of stablecoins, the impact of collateral within the financial system, how the Fed have looked to address plumbing issues within this system, and more.   Take the Macro Musings listener survey here.   Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings   Manmohan's VoxEU profile: https://voxeu.org/users/manmohansingh0 Manmohan's Risk.net archive: https://www.risk.net/author/manmohan-singh   Related Links:   *Interoperability of Stablecoins* by Manmohan Singh, Caitlin Long, and Charles Kahn https://www.centralbanking.com/fintech/7892256/interoperability-of-stablecoins   *How to Stop Stablecoins from Hoarding Precious Collateral* by Manmohan Singh and Caitlin Long https://www.risk.net/comment/7948696/how-to-stop-stablecoins-from-hoarding-precious-collateral   *Money is Privacy* by Charles Kahn, James McAndrews, and William Roberds https://www.jstor.org/stable/3663561   *Investors Withdraw Over $7 Billion from Tether, Raising Fresh Fears About Stablecoin's Backing* by Ryan Browne https://www.cnbc.com/2022/05/17/tether-usdt-redemptions-fuel-fears-about-stablecoins-backing.html   David's blog: macromarketmusings.blogspot.com David's Twitter: @DavidBeckworth

Before the coronavirus pandemic, one of the biggest crises of our time was the global financial crisis. And even though that crisis passed, the underlying issues which gave rise to it have not been resolved. Anat Admati is the George G.C. Parker Professor of Finance and Economics at Stanford University Graduate School of Business, a director of the Corporations and Society Initiative, and a senior fellow at Stanford Institute for Economic Policy Research. She has written extensively on information dissemination in financial markets, portfolio management, financial contracting, corporate governance, and banking. Anat also co-authored the book “The Bankers' New Clothes: What's Wrong With Banking and What to Do About It” with Martin Hellwig.In this episode we're diving into the world of finance, with a focus on housing subsidies in the United States, corporate finance education, and whether or not the private sector will solve our global problems. Episode Quotes:Money influences every sector So money speaks everywhere, including nonprofits and universities are not immune from that actually. Their donors, especially of business schools, are from the private sector and you don't want to annoy them. That's why the only way you're going to talk about society is to make everybody feel good about themselves and do impact investing in philanthropy and all of that. So that's sort of the winner takes all charade of changing the world sort of part of it. So academics are not immune.Change is difficult in academiaSo change is difficult also in academia and business schools especially. In the eighties there started being this mantra with Ronald Reagan, the government is always a problem, the government is corrupt and incompetent, etc. And therefore you have all these heroic CEOs, that they will take care of us because the government can't. To which my response is if the government can't, why is that? And did you have anything to do with it, with your own actions to corrupt the government basically? To weaken the government to rob it of resources in every clever way you can. And now we're all paying the price.The lack of education of corporate financeWhen I started looking into banking as a corporate finance and corporate governance expert right after the financial crisis, I was shocked. I mean, you really actually have academics writing textbooks and it's as if like the civilization of corporate finance and what we understand about the basics of corporate finance just hasn't made it there. They just have a whole other set of words that they use. And they just seem to refuse to accept it's really in the sort of domain of willful blindness. Funding & debtWe just rely too much on debt. And the debt often becomes predatory in bad terms, payday loans, and other things, and even student loans. In other words, what is it you want to fund? And how is it you want to do it? We do way too much funding by debt in general.Show Links:Guest Profile:Faculty Profile at Stanford Graduate of School of BusinessProfessional Profile at VoxEU.orgAnat Admati's WebsiteAnat Admati on LinkedInAnat Admati on TwitterAnat Admati at TEDxStanfordHer Work:Anat Admati on Google ScholarThe Bankers' New Clothes: What's Wrong with Banking and What to Do about It - Updated Edition

With Laurence Kotlikoff Ph.D. | Professor of Economics | Author | President of Economics Security Planning Inc BIO: Laurence Kotlikoff is a professor of economics at Boston University, president of Economic Security Planning, New York Times best-selling author and author of 19 books. His columns, articles, and books cover personal finance, generational policy, climate policy, inequality, tax reform, Social Security, banking, robotization, growth, and much more. Laurence's columns have appeared in The NY Times, The Wall Street Journal, The Washington Post, The Hill, The Financial Times, The Times of London, Forbes, CBNC, Bloomberg, PBS NewsHour, The Dallas News, Neue Zürcher Zeitung, the Seattle Times, Vox, Fortune, Seeking Alpha, Yahoo.com, VoxEU, Huffington Post, and other leading media. His company produces the world's most powerful personal financial planning tools. LINKS: Laurence's Website: CLICK HERELaurence's Books: CLICK HERE

Retirement planning entails a series of important decisions, including lifestyle decisions with long-lasting consequences. My guest today, economist Larry Kotlikoff, discusses his new book, Money Magic: An Economist's Secrets to More Money,Less Risk, and a Better Life, and how to make smarter lifestyle decisions by understanding the true price tags for each of them. See below for Larry Kotlikoff's full bio and links to learn more. _________________________ Retirement Wisdom is partnering with One Day University to bring you a FREE live-streamed talk with renowned Amherst Professor Catherine Sanderson, on January 18th, at 7 pm ET | 6pm CT | 4 pm PT. Professor Sanderson will present a live-streamed, one-hour version of her most popular course, Positive Psychology: The Science of Happiness, including time for Q&A in real-time. If you can't tune in live, everyone who RSVPs will receive a link to watch the class anytime they want. To RSVP today for this free class, just visit: www.onedayu.com/retirementwisdom __________________________ Bio Laurence J. Kotlikoff is a William Fairfield Warren Professor at Boston University, a Professor of Economics at Boston University, a Fellow of the American Academy of Arts and Sciences, a Fellow of the Econometric Society, a Research Associate of the National Bureau of Economic Research, President of Economic Security Planning, Inc., a company specializing in financial planning software, a Research Associate of the Gaidar Institute, and a Research Fellow of the Goodman Institute.Kotlikoff is also a New York Times Best Selling author. The Economist Magazine ranked Kotlikoff one of the world's 25 most influential economists. His website is Professor Kotlikoff received his B.A. in Economics from the University of Pennsylvania in 1973 and his Ph.D. in Economics from Harvard University in 1977. From 1977 through 1983, Kotlikoff served on the faculties of economics of the University of California, Los Angeles and Yale University. In 1981-82 Professor Kotlikoff was a Senior Economist with the President's Council of Economic Advisers. Professor Kotlikoff's writings and research address personal finance, inequality, taxation, Social Security, climate change, investing, healthcare, deficits, and insurance. Professor Kotlikoff is author or co-author of 20 books, hundreds of professional journal articles, and a multitude of op eds and blogs. His most recent books are Money Magic: An Economist's Secrets to More Money,Less Risk and a Better Life, You're Hired, Get What's Yours – the Revised Secrets to Maxing Out Your Social Security (a NY Times Best Seller co-authored with Philip Moeller and Paul Solman), The Clash of Generations (co-authored with Scott Burns), The Economic Consequences of the Vickers Commission, Jimmy Stewart Is Dead, Spend ‘Til the End, (co-authored with Scott Burns), Generational Policy (MIT Press), The Healthcare Fix, and The Coming Generational Storm (co-authored with Scott Burns). Kotlikoff's columns have appeared in The NY Times, The Wall Street Journal, The Washington Post, The Hill, The Financial Times, The Times of London, Forbes, CBNC, Bloomberg, PBS NewsHour, The Dallas News, Neue Zürcher Zeitung, the Seattle Times, Vox, Fortune, Seeking Alpha, Yahoo.com, VoxEU, Huffington Post, and other leading media. Kotlikoff has served as a consultant to the Federal Reserve, the International Monetary Fund, the World Bank, the Harvard Institute for International Development, the Organization for Economic Cooperation and Development, the Swedish Ministry of Finance, the Norwegian Ministry of Finance, the Bank of Italy, the Bank of Japan, the Bank of England, the Government of Russia, the Government of Ukraine, the Government of Bolivia, the Government of Bulgaria, the Treasury of New Zealand, the Office of Management and Budget, the U.S. Department of Education, the U.S. Department of Labor, the Joint Committee on Taxation, The Commonwealth of Massachusetts,

Peter Stella is the former Head of the IMF Central Banking division and has researched and written extensively on safe assets, collateral and central bank operations. Peter now hosts a website Central Banking Archeology. Peter joins David on Macro Musings to discuss the role of money and its relationship to inflation as well as its relationship to the payment system. Specifically, David and Peter discuss the fiscal theory of the price level, how rising indebtedness can signal higher inflation in the future, the implications of the fiscal theory for contemporary fiscal and monetary policy going forward, and much more.   Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings   Peter's Twitter: @Stellar_Consult Peter's website: https://www.centralbankarchaeology.com/ Peter's Voxeu profile: https://voxeu.org/users/peterstella0 Peter's Research Gate archive: https://www.researchgate.net/profile/Peter_Stella   Related Links:    *Some Incredible Monetarist Arithmetic* by Peter Stella https://www.centralbankarchaeology.com/post/some-incredible-monetarist-arithmetic   *Some Alternative Monetary Facts* by Peter Stella, Manmohan Singh, and Apoorv Bhargava https://www.imf.org/en/Publications/WP/Issues/2021/01/08/Some-Alternative-Monetary-Facts-49975   David's blog: macromarketmusings.blogspot.com David's Twitter: @DavidBeckworth

How well has monetary policy coped with the challenge of Covid-19?Central banks get good grades in a new VoxEU ebook. But Bill English and Angel Ubide warn Tim Phillips that success today may lead to problems in future.

An increasing amount of trade is digital, but trade negotiations are bogged down by arguments over how to regulate it. A new VoxEU ebook investigates what gets in the way of digital trade, and editors Ingo Borchert and Alan Winters tell Tim Phillips what we can do to make it work better.

Africa’s citizens have so far mostly been spared the direct health consequences of the pandemic, but many of its economies are on life support. Ugo Panizza and Simeon Djankov, two of the editors of a new CEPR ebook about Africa's recovery, talk to Tim Phillips about post-Covid debt, FDI, food security, and how it's in all our interests to step up and help. Download Shaping Africa’s Post-Covid Recovery (https://voxeu.org/content/shaping-africa-s-post-covid-recovery) at VoxEU.

Today the CEPR launches a new ebook on Europe's trade strategy. Author Christian Bluth tells Tim Phillips that nations are increasingly using global trade as a means of political arm-twisting. Should the EU do the same? Download Europe’s trade strategy for the age of geoeconomic globalisation (https://voxeu.org/content/europe-s-trade-strategy-age-geoeconomic-globalisation ) from VoxEU.

In classical capitalism, the rich earn their money from capital while the poor sell the value of their labour. In which countries is that still true, and how does it affect the gap between rich and poor? Branko Milanovic tells Tim Phillips about a new way in which we can think about inequality. Read about the research (https://voxeu.org/article/capitalist-systems-and-income-inequality) at VoxEU.

Another week, another tech merger, but this time with huge potential implications for who owns our health data and how it is used. Cristina Caffarra and Greg Crawford tell Tim Phillips why 17 economists have written a paper describing harm that Google's acquisition of Fitbit would cause to consumers. Download Policy Insight 107 (https://cepr.org/sites/default/files/policy_insights/PolicyInsight107.pdf) , or read about it at VoxEU (https://voxeu.org/article/googlefitbit-will-monetise-health-data-and-harm-consumers) .

Academic economists need to be published, but is the journal system fair and efficient? Sebastian Galiani and Ugo Panizza tell Tim Phillips about a new free VoxEU ebook that tackles racism in publishing, whether you should be judged by your citations, and the tyranny of the top five.  Download Publishing and measuring success in economics (https://voxeu.org/system/files/epublication/Publishing_in_Economics.pdf) .

Viral Acharya tell Tim Phillips that the action to save Europe's financial sector after 2008 has delayed reform in the banking sector - creating a decade of lending to zombie firms that has stifled economic growth. Acharya on Zombies and disinflation (https://voxeu.org/content/creating-zombies-and-disinflation-cul-de-sac-accommodative-monetary-policy) at VoxEU.

The Covid-19 lockdown has provided the opportunity to measure the financial value we give to 'free' digital services like social media and Google search. Diane Coyle and David Nguyen tell Tim Phillips what they discovered, and whether this value should be counted in GDP. Read the paper (https://cepr.org/file/9256/download?token=DHbO0cn_) in Covid Economics 33, or this article (https://voxeu.org/article/impact-covid-19-value-online-goods) on VoxEU.

Peter Stella is a former IMF official, where he led the Central Banking and Monetary and Foreign Exchange divisions, and he now hosts a webpage titled *Central Bank Archeology*. Peter is also a former guest of Macro Musings, and rejoins to talk about the COVID-19 crisis, central bank balance sheets, and more. David and Peter also discuss the dangers and challenges of the Fed’s off-balance sheet transactions, how the government should approach crisis financing, and who should be managing the country’s public debt.   The transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings   Peter’s Twitter: @Stellar_Consult Peter’s Voxeu profile: https://voxeu.org/users/peterstella0 Peter’s Research Gate archive: https://www.researchgate.net/profile/Peter_Stella   Related Links:   Peter's *Central Bank Archaeology* website: https://www.centralbankarchaeology.com/   *Macro Musings: Peter Stella on Debt, Safe Assets, and Central Bank Operations* https://macromusings.libsyn.com/144-peter-stella-on-debt-safe-assets-and-central-bank-operations   David’s blog: macromarketmusings.blogspot.com David’s Twitter: @DavidBeckworth

The recent 2020 Edelman Trust Barometer revealed a dramatic turnaround in levels of popular trust in governments, from their lowest to highest ever recorded levels. Indeed, government is now the institution most people trust, for the first time in the survey’s 20-year history. How brittle is this new found faith in those who govern us? Will it outlive the peak of the global coronavirus pandemic or will it decline as our societies return to relative normality? Could populism and distrust of ‘elites’ return with a vengeance later on? Our Pocket Dilemma presenters, Jonathan Charles and Kerrie Law, were joined on Zoom by: Barry Eichengreen, George C. Pardee and Helen N. Pardee Professor of Economics and Political Science at UC Berkeley, California, US, author of The Populist Temptation: Economic Grievance and Political Reaction in the Modern Era; Sergei Guriev, our former Chief Economist, who teaches a course on populism at Sciences Po, Paris, France; He is a co-author of the recent survey “Political Economy of Populism” and the leader of the Research and Policy Network on Populism at the Centre for Economic Policy Research (CEPR) and a moderator of VoxEU’s debate page on populism; Like what you hear? Review our podcast on iTunes, email us at dilemmas@ebrd.com, or tweet us @EBRD #EBRDdilemmas You can rate, review and subscribe to Pocket Dilemma on ITunes, Spotify and Soundcloud, or wherever you get your podcasts.

“Questa crisi ha il potenziale per arrecare un danno sproporzionato al lavoro e al reddito delle donne”Inizia così un interessantissimo articolo pubblicato su Voxeu.org a firma di Monika Queisser, Consigliere Senior del Direttore della Direzione per l'occupazione, il lavoro e gli affari sociali e Capo della divisione per le politiche sociali dell'OCSE, e degli economisti Willem Adema e Chris Clarke, nel quale si spiega perché, le donne, rappresentano la categoria più vulnerabile in questa maledetta emergenza da Coronavirus. Ed è proprio sfruttando i dati e le considerazioni contenute in questo articolo che intendo fare i miei più cari auguri a tutte le mamme e alle donne, a partire dalla mia dolce metà, Sara, nella speranza di un futuro migliore per tutti, a partire proprio dalle donne! 

In a new paper called Born out of necessity, a group of economists and  lawyers propose a way for developing and emerging countries to temporarily redirect debt repayments to fund Covid-19 relief. Ugo Panizza and Mitu Gulati tell Tim Phillips how it would work. Read about this controversial idea (https://voxeu.org/article/debt-standstill-covid-19-low-and-middle-income-countries) at VoxEU.

Emanuel Ornelas, professor da Escola de Economia de São Paulo, da Fundação Getulio Vargas (FGV EESP), usando conceitos econômicos básicos discute os prós e contras de políticas de lockdown e como elas devem ser gerenciadas durante uma epidemia. Baseado em artigo publicado na VoxEu.org em 28/3/2020, “Managing Economic Lockdowns in an Epidemic”

In international crises, disasters and wars, private lenders disappear. But governments have stepped in and lent far more to each other than we previously thought. Christoph Trebesch tells Tim Phillips that new data on  200 years of official lending may contain unexpected good news for countries crippled by Covid-19. Read 'Coping with disasters: Lessons from two centuries of international response' (https://voxeu.org/article/coping-disasters-lessons-two-centuries-international-response) at VoxEU

How can euro area countries work together to protect their economies? A diverse group of economists has suggested the creation of an emergency Covid credit line. Beatrice Weder di Mauro tells Tim Phillips how it would work. Read about the Covid credit line (https://voxeu.org/article/proposal-covid-credit-line) on VoxEU

https://odioh.wordpress.com/2020/03/22/alberto-bagnai-diretta-facebook-22-marzo-2020-dove-vogliono-portarci-e-come-dobbiamo-reagire/ "Una rapida diretta per spiegarvi: 1) quale progetto le élite europee hanno in mente per noi (lo trovate descritto nel loro organo ufficiale, Voxeu, che è la vera Gazzetta ufficiale dell'UE, a questo link: https://voxeu.org/article/proposal-covid-credit-line), e 2) perché chi con toni magniloquenti apostrofa addirittura il Presidente Mattarella affinché convochi il Parlamento è un cretino: il Senato è già convocato regolarmente per mercoledì (http://www.senato.it/2767) e la Commissione Bilancio per martedì (http://senato.it/documenti/repository/commissioni/comm05/calendario/convocazioni.pdf). In una guerra combattuta sul fronte dell'informazione, chi diffonde notizie false, come quella di una chiusura del Parlamento, fa il gioco del nemico. Isolatelo."

In a VoxTalks special, Danny Quah tells Tim Phillips how Singapore defended itself against the health and economic impact of Covid-19, and what other countries can learn from its actions. Download the VoxEU book Mitigating the Covid Economic Crisis (https://voxeu.org/content/mitigating-covid-economic-crisis-act-fast-and-do-whatever-it-takes) .

How big are Covid-19's economic consequences? That's the theme of a new VoxEU book with contributions from many of the world's most experienced policymakers with expertise in this area. Beatrice Weder di Mauro and Richard Baldwin, the book's editors, give Tim Phillips the (mostly) bad news. Download the book (https://voxeu.org/article/economics-time-covid-19-new-ebook) : it's free.

Women are under-represented in economics, and the situation is not improving. Economists Shelly Lundberg, Donna Ginther, Jenna Stearns and Erin Hengel talk to Tim Phillips about VoxEU's new book on the subject that examines the barriers that women face in the profession, and also suggests ways to support the next generation of female economists. Download the book here (https://voxeu.org/content/women-economics) , it's free.

In this episode, we explore the background of free trade, the US-China trade war itself, and why tariffs are a bad idea.Please subscribe and leave a 5-star review. Thank you!***References:‘Trumponomics: Inside the America First Plan to Revive Our Economy’, Stephen Moore and Arthur B. Laffer, 2018, All Points Books, United States.‘Schism: China, America and the Fracturing of the Global Trading System’, Paul Blustein, 2019, Centre for International Governance Innovation, Canada.‘An Inquiry into the Nature and Causes of the Wealth of Nations’, Adam Smith, Abridged with Commentary by Laurence Dickey, 1993, Hackett Publishing Company, Indianapolis/Cambridge.‘On the Principles of Political Economy and Taxation’, David Ricardo, 1817, republished in 2001, Batoche Books, Kitchener.‘Comparative Advantage’, Investopedia.‘International Trade’, Britannica.‘How Trump's Trade War Went From Method to Madness’, Bloomberg, YouTube.‘A Quick Guide to the US-China Trade War’, BBC.‘US-China trade war: 'We're all paying for this', Virginia Harrison, BBC.‘China tariffs will still cost US $316 billion by end of 2020, even after trade deal’, Gina Heeb, Business Insider.‘The US-China Trade War: A Timeline’, Dorcas Wong & Alexander Chipman Koty, China Briefing.‘I, Pencil: My Family Tree as Told to Leonard E. Read’, Leonard Read, republished by Foundation for Economic Education. ‘Economists Actually Agree on This: The Wisdom of Free Trade’, N. Gregory Mankiw, New York Times.The World Trade Historical Database, Giovanni Federico & Antonio Tena-Junguito, VOXeu.org.‘Shooting an Elephant’, The Economist, September 17, 2016.‘Steve Lamar: Announced phase 1 trade deal gave retailers limited relief’, CNBC, YouTube.‘The U.S. Trade Deficit Is Narrowing for Reasons That Aren’t All Good’, Shawn Donnan, Bloomberg.‘Trade War From The Chinese Side’, Milton Ezrati, Forbes.‘How China Really Sees the Trade War’, Andrew J. Nathan, Foreign Affairs.‘The U.S. Trade War Has Caught Beijing’s Attention. Now Washington Needs a Longer-Term Plan.’, Tim Roemer, Foreign Policy.‘David Autor on Trade, China, and U.S. Labor Markets’, Econ Talk Podcast.‘Donald Trump accuses China of trade 'rape'’, The Telegraph, YouTube.‘Donald Trump FULL Speech | Toledo, Ohio Rally (10/27/2016)’, ABC News, YouTube.‘Trump vs Friedman - Trade Policy Debate’, LibertyPen, YouTube.‘Milton Friedman - Congressional House Economic Task Force (1993)’, BasicEconomics, YouTube.‘Krugman Says U.S. Not Taken Advantage of in Trade Deals’, Bloomberg Politics, YouTube.‘Don Boudreaux - Why Free Trade is ALWAYS Best Policy’, LibertyPen, YouTube.‘Trade wars are easy to start, very hard to stop: Economist Thomas Sowell’, Fox Business, YouTube.‘Milton Friedman - Free Trade’, BasicEconomics, YouTube.***Music: Julian AngelatosArtwork: Nerpa Mate

When there's a financial crisis, policymakers and politicians increasingly kowtow to the demands of an influential group: the global middle class. Jeffrey Chwieroth and Andrew Walter tell Tim Phillips how their Great Expectations are destabilising the world economy. Read about Great Expectations (https://voxeu.org/article/satisfying-great-expectations-middle-class) at VoxEU.

How much is spent on end-of-life care, and who foots the bill? Eric French of UCL tells Tim Phillips about the total cost of the last year of our lives, and how different countries have very different ideas of who should pay it. Read about the research at VoxEU.org (https://voxeu.org/article/end-life-medical-expenses) , and download the VoxEU book (https://voxeu.org/content/live-long-and-prosper-economics-ageing-populations) about the economics of ageing.

The Royal Economic Society has launched Discover Economics (http://www.discovereconomics.ac.uk/) , an ambitious three-year campaign to attract more women, minority students and students from state schools to study the subject. Sarah Smith and Arun Advani, co-chairs of the campaign, plus Rachel Griffith, RES president, tell Tim Phillips about how they plan to make this happen. Read about Discover Economics at VoxEU (https://voxeu.org/article/increasing-diversity-uk-economics) .

We are living longer, and that affects every part of our economic future. David Bloom is the editor of a new VoxEU book on what he calls "the what, the so what, and the now what" of ageing. He tells Tim Phillips about some of the policy choices our societies will have to make in the near future.

Patrick Honohan took over as governor of the Central Bank of Ireland in 2009 with the economy in meltdown, and steered it through its deepest crisis. His new book re-examines what happened, and lessons for future crises. Tim Phillips talks to Patrick and the FT's Martin Sandbu about what policymakers and central bankers can learn from Ireland's ordeal. Read about Patrick's book at VoxEU.org (https://voxeu.org/article/irish-crisis-lessons-small-central-banks) . Picture: William Murphy/CC

On 24 September the CEPR launches the latest Geneva Report on the world economy, called Banking disrupted? Financial intermediation in an era of transformational technology. Tim Phillips asks Tara Rice and Kathryn Petralia, two of the authors, whether fintechs and cryptocurrencies signal the beginning of the end for banks. Download the report (https://voxeu.org/content/banking-disrupted-financial-intermediation-era-transformational-technology) , or read about it at VoxEU (https://voxeu.org/article/banking-fintech-big-tech-emerging-challenges-financial-policymakers) .

Economists argue whether foreign direct investment in developing economies exports pollution or generates green growth. Beata Javorcik talks to Tim Phillips about a surprising conclusion from factory-level research. Read about the research at VoxEU (https://voxeu.org/article/foreign-acquisitions-and-energy-intensity) .

Starting on the 80th anniversary of the outbreak of the second world war, VoxEU is publishing a series of articles about the economics of the war. Tim Phillips talks to some of the authors about their research. Read more about the project at VoxEU (https://voxeu.org/debates/economics-second-world-war-eighty-years-0) .

Children in different countries start school at very different ages. Thomas Cornelissen tells Tim Phillips about new research that suggests an early start may help their development. Check out the research on VoxEU.org (https://voxeu.org/article/benefits-starting-school-early)

As the G20 gather in Japan, Tim Phillips talks to Simon Evenett, one of the authors of the Global Trade Alert (https://www.globaltradealert.org) , on how the ministers can halt the "free for all" on protectionism. Download the 24th Global Trade Alert (https://voxeu.org/article/jaw-jaw-not-war-war-prioritising-wto-reform-options) by visiting VoxEU.org

Women earn less than men after they start a family. Can better policies close the gap? Camille Landais of LSE tells Tim Phillips about new research comparing six countries.  Read about the research on VoxEU.org (https://voxeu.org/article/child-penalties-across-countries-evidence-and-explanations)

We all want happy, successful kids, so how can economics help? Fabrizio Zilibotti of Yale talks to Tim Phillips about the research that he and his peers have done into parenting and what it tells us. Here's a VoxEU column by Fabrizio (https://voxeu.org/article/economics-parenting) , and here's a link to his book (https://press.princeton.edu/titles/13326.html) .

Peter Stella is the managing director of Stellar Consulting and was formerly an IMF official where he led the central banking and monetary and foreign exchange divisions. Peter has researched and written extensively on safe assets, collateral, and central banking operations, and he joins the show today to discuss this work.  David and Peter also discuss the Fed’s large scale asset purchases, money and payment systems in advanced economies, and why the U.S. Treasury should start issuing bills to the Fed.   Transcript for the episode: https://www.mercatus.org/bridge/podcasts/02182019/peter-stella-debt-safe-assets-and-central-bank-operations   Peter’s Voxeu profile: https://voxeu.org/users/peterstella0 Peter’s Research Gate archive: https://www.researchgate.net/profile/Peter_Stella   David’s blog: macromarketmusings.blogspot.com David’s Twitter: @DavidBeckworth

On 17 October 2018, Canada legalised recreational cannabis use, with an immediate effect on how Canadian people use cash. Jonathan Ashworth explains to Tim Phillips how legalisation crimps the black economy. Read our VoxEU column (https://voxeu.org/article/canadian-legalisation-cannabis-reduces-both-cash-usage-and-black-economy) on the topic.

We usually measure the effectiveness of economists by how many papers they publish, or how many citations they get. But a new measure takes into account their influence on the work of their colleagues as well. Michael König explains to Tim Phillips how this works, and who gets to be number one. [Read more about the research on VoxEU.org](https://voxeu.org/article/using-co-authorship-networks-improve-research-rankings-and-funding-instruments).

Firms like to be politically connected, because it makes it easier for them to do business. But is it good for the rest of us? Ufuk Akcigit of the University of Chicago tells Tim Phillips about the consequences of connecting to power. Read about Ufuk's other work on [business taxation](https://voxeu.org/article/taxation-and-innovation-20th-century), [innovation](https://voxeu.org/article/immigrants-and-innovation-us-history) and [protectionism](https://voxeu.org/article/innovation-trade-policy-and-globalisation) on VoxEU.org.

In the developed world borders are being closed and popular resistance to immigration is rising. Yet Lant Pritchett of Harvard University tells Tim Phillips that the rate of migration from poor to rich countries is actually five times too low. Planned mass migration of unskilled labour, he argues, would make everyone better off. [Read more about Lant's views on labour mobility on VoxEU](https://voxeu.org/content/labour-mobility-economic-growth-and-targeted-programmes).

This weekend marks 100 years since the end of World War 1. But is the history of the war that we learn at school the whole story? The 20 essays in a new VoxEU ebook on the economic history of the war challenge the conventional wisdom about how the war started, why it was won and lost, and its consequences.  Tim Phillips talks to Mark Harrison of the University of Warwick, one of the book’s editors.  [Download _The Economics of the Great War_ for free](https://voxeu.org/content/economics-great-war-centennial-perspective) from VoxEU.org.

We know that increasing the school leaving age cuts crime, but why? Is it because kids who are most likely to commit crimes are learning things that make them more employable, or is just because they're off the streets? Tim Phillips talks to Steve Machin of the LSE about new research into the importance of these effects. Read about the research [at VoxEU.org](https://voxeu.org/article/why-education-reduces-crime).

What accounts for London's explosive growth in the 19th and early 20th centuries? Tim Phillips talks to Stephen Redding of Princeton University about new research that shows how important the railways have been, and continue to be, in creating the modern metropolis. [Read about the research on VoxEU.org](https://voxeu.org/article/making-modern-metropolis-evidence-london)

In the US, unemployment is at its lowest point for two decades. Wage growth is rising, the economy is growing. Tim Phillips asks Jeffrey Frankel of Harvard University why he worries about the depth of the next recession. [Read Jeffrey's blog on VoxEU.org](https://voxeu.org/content/next-recession-could-be-bad-one).

It's no secret that women have been under-represented in the boardroom in general, and central bank boards are no different. We also know that firms in which women are decision-makers tend to behave differently. Tim Phillips talks to Paola Profeta, one of the authors of a new paper that finds that female central bankers have a measurable effect on monetary policy. [Find out more about her research](https://voxeu.org/article/why-women-matter-monetary-policymaking) at VoxEU.org.

The FRAME Project was set up to find out the impact of innovation on macroeconomic outcomes such as productivity, job creation, and unemployment. Diego Comin of Dartmouth College is one of the leaders of the project, and he talks to Tim Phillips about what he and his colleagues have learned. CEPR is a partner of the FRAME Project, which is co-ordinated by ZEW. The CEPR team is led by Diego Comin, a Research Fellow in its Macroeconomics and Growth Programme. The FRAME project has received funding from the European Union's Horizon 2020 Research and Innovation Programme under the grant agreement No #727073. Find out [more about FRAME's work](https://voxeu.org/article/publicly-funded-applied-research-pays-case-fraunhofer-gesellschaft) on VoxEU.

Every year multinational companies reduce their tax bills by about $200 billion simply by shifting profits, legally, to tax havens. Governments criticise tax loopholes and promise to close them. But at the same time they also use them to attract these paper profits to their jurisdiction. Thomas Tørsløv and Ludvig Weir talk to Tim Phillips about where the missing profits of nations go, the effect of the missing billions on government policies, and how to create a fairer system of taxation for multinationals. [Read more about missing profits on VoxEU](https://voxeu.org/article/missing-profits-nations).

English is the most widely-spoken language in Europe, but after Brexit it will cease to be an official language of the EU. Tim Phillips speaks to Shlomo Weber about which languages will become more important as a result, and the long-term implications for the English language — and the people who speak it.  Read more about the fate of English in Europe [in the column on VoxEU](https://voxeu.org/article/english-language-eu-after-brexit).

In the French presidential election the parties of right and left collapsed, beaten by political newcomer Emmanuel Macron and the far-right candidate Marine Le Pen. Daniel Cohen of the Paris School of Economics tells Tim Phillips about research that explains why millions of French voters are no longer responding to traditional political messages. [Read more about populism on VoxEU](https://voxeu.org/search/node/populism).

The north of England and Wales lag the south in output per person, educational attainment, and even life expectancy. Neil Cummins of the London School of Economics tells Tim Phillips that this can be explained entirely by a 200-year "Big Sort": the migration south of talented people, replaced by less-able southerners who move north. [Read about his research on VoxEU](https://voxeu.org/article/decline-northern-england-1780-2018).

New drugs mean that many types of cancer are no longer a death sentence. But new medical treatments may have a catastrophic financial cost for patients. Tim Phillips talks to Ralph Koijen about how life insurance, not medical insurance, might finance the war on cancer. Read more about this, and other groundbreaking research, at [VoxEU.org.](https://voxeu.org)

In 1997 Germany was called "the sick man of Europe". So what is behind its exceptional recovery? Tim Phillips talks to Dalia Marin, the editor of a new VoxEU ebook that explains what Germany did, and what other countries can learn from it. [Read about the ebook, and download it for free from VoxEU](https://voxeu.org/article/explaining-german-s-exceptional-recovery-new-ebook).

It's routine for the rich to dodge tax by hiding it offshore. But how much of their wealth are they hiding illegally? Tim Phillips talks to Annette Alstadsæter of the Norwegian University of Life Sciences about how she and her colleagues used whistleblower data to discover the extent of tax evasion by the ultra-rich. [Read about their research on VoxEU](https://voxeu.org/article/tax-evasion-and-inequality).

If the robots are coming for our jobs, how many of us will they actually replace? Tim Phillips talks to MIT's Daron Acemoglu who argues that the robot apocalypse isn't going to happen just yet. If you want to know more detail about the research, [read this VoxEU column](https://voxeu.org/article/robots-and-jobs-evidence-us).

Economists have long been sceptical of the potential of cryptocurrencies and other electronic forms of money. But are central banks coming round to the idea? Tim Phillips asks Beatrice Weder di Mauro whether central banks might start issuing their own cryptocurrencies. Read more on VoxEU about [crypto's challenge to central banks](https://voxeu.org/article/cryptocurrencies-challenge-central-banks).

When President Trump recently spoke of his hope for "a great bilateral trade agreement” with the UK after Brexit, what did he really mean? Tim Phillips interviews Dennis Novy of the University of Warwick. Dennis describes what these political good intentions may look like in reality, the problems that both sides will have to solve to agree a UK-US deal, and the factors that might derail any agreement. Read about Dennis's research on [what caused the Brexit vote](https://voxeu.org/article/fundamental-factors-behind-brexit-vote), and its effect on [living standards](https://voxeu.org/article/consequences-brexit-uk-inflation-and-living-standards-first-evidence), on VoxEU.

We all know how films and television tell the story of the Mafia, but what can economics tell us about its origins? Tim Phillips talks to Giuseppe De Feo about a new paper that tells the story of how the drought of 1893 has had social and economic effects that are still being felt today. [Read about this research on VoxEU](https://voxeu.org/article/causes-and-consequences-sicilian-mafia).

For the families of millions of migrant workers around the world, remittances can literally be a life-saver. But the cost of sending money home remains puzzlingly high. So why aren't remittances getting cheaper? Tim Phillips talks to Stephen Cecchetti of Brandeis University and Kim Schoenholtz of the Stern School at NYU. Read Steve and Kim's [column on the subject at VoxEU](https://voxeu.org/article/stubbornly-high-cost-remittances).

For most of the 20th century, inequality between Europe's regions declined. But what has happened in the last 40 years? New historical data gives us the answer. Tim Phillips talks to Joan Rosés of the London School of Economics and Nikolaus Wolf of Humboldt University, Berlin. Find out more [by reading the authors' VoxEU column](https://voxeu.org/article/return-regional-inequality-europe-1900-today).

Blockchain technology has the potential to be a catalyst for change in the financial sector. But can it overcome its technical limitations and governance problems? Tim Phillips talks to Simon Johnson, Professor of Entrepreneurship at the Sloan School of Management, MIT, and one of the authors of the latest Geneva Report on the World Economy, which looks at blockchain's applications and challenges. [Read about the report, and download it for free from VoxEU](https://voxeu.org/article/blockchain-catalyst-change).

(REBROADCAST EPISODE) In this week’s special episode, David discusses the economics of Christmas with Laura Birg, a post-doctoral researcher at the University of Goettingen, and Anna Goeddke, a professor of economics at the ESB Business School at Reutlingen University. Topics include the dead-weight loss of gift-giving, Christmas’ effects on seasonal GDP, increases in alcohol consumption, and the effect of secularization on Christmas celebrations. David’s blog: macromarketmusings.blogspot.com/ David’s Twitter: @davidbeckworth Original episode: https://soundcloud.com/macro-musings/birggoeddeke Anna’s VoxEU profile: voxeu.org/users/annagoeddeke0 Anna’s Twitter: @annagoeddeke Laura’s University of Goettingen profile: www.uni-goettingen.de/en/362254.html Related links: “Christmas Economics – A Sleigh Ride” by Laura Birg and Anna Goeddke (2014) papers.ssrn.com/sol3/papers.cfm?a…stract_id=2526055 “The Seasonal Cycle and the Business Cycle” by Robert Barsky and Jeffrey Miron (1988) www.nber.org/papers/w2688 “The Business Cycle Effects of Christmas” by YI Wen (2001) www.discuto.io/sites/default/fil…christmas2010.pdf We Wish you a Merry Christmas Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License creativecommons.org/licenses/by/3.0/

In this week’s special episode, David discusses the economics of Christmas with Laura Birg, a post-doctoral researcher at the University of Goettingen, and Anna Goeddke, a professor of economics at the ESB Business School at Reutlingen University. Topics include the dead-weight loss of gift-giving, Christmas’ effects on seasonal GDP, increases in alcohol consumption, and the effect of secularization on Christmas celebrations. [Note: We will be taking a break next week for the holidays, but we will be back the following Monday, January 2, with the Washington Post’s Ylan Mui!] David’s blog: macromarketmusings.blogspot.com/ David’s Twitter: @davidbeckworth Anna’s VoxEU profile: http://voxeu.org/users/annagoeddeke0 Anna’s Twitter: @annagoeddeke Laura’s University of Goettingen profile: https://www.uni-goettingen.de/en/362254.html Related links: “Christmas Economics – A Sleigh Ride” by Laura Birg and Anna Goeddke (2014) https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2526055 “The Seasonal Cycle and the Business Cycle” by Robert Barsky and Jeffrey Miron (1988) http://www.nber.org/papers/w2688 “The Business Cycle Effects of Christmas” by YI Wen (2001) https://www.discuto.io/sites/default/files/christmas2010.pdf We Wish you a Merry Christmas Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License http://creativecommons.org/licenses/by/3.0/