Fasten your seat belts, but there is no need to panic

CHRISTMAS and New Year celebrations seem already very far away. With world luminaries competing on pessimism in Davos, markets on a rollercoaster and the feeling of acute uncertainty about political and economic developments in the air, cataclysmic scenarios are becoming fashionable. But they tend to over-feed themselves and ultimately make objective assessment even more difficult.

This is exactly when quantitative modelling of the sort practised at TAC Economics is of best h…