Christian Odendahl

@codendahl.bsky.social

33521 Followers 3404 Following

European economics editor @TheEconomist. London via Berlin, Stockholm and Cologne. Have no plans to write a book.

The memorial at the ferry harbour for the 77 people killed on Utøya 15 years ago. 77 bronze pillars, connected by a bronze band, in a snake-like shape leading towards the sea.
Hairy caterpillars on a tree, in a procession. Hence the name oak processionary moth.
Norway players posing as vikings, dramatic Norwegian fjord in the background.
Cool German cover of The Economist
Picture of an old, rusty engine room of a factory.
Economist cover on AI and America, showing the bald eagle holding a computer mouse in its beak.
Cartoon showing a man on a branch. He is cutting it off with a saw, and will fall down with it. A sign reads Brexit reenactment, 10th anniversary celebration.
Italy football kits and fan gear discounted at a shop in Canada
Cover of book 1873 by Liaquat Ahamed.
Chart showing euro area imports of intellectual property services, which have risen strongly from the US
Graffiti in Berlin reading “Money has no value, capitalism dosn’t (sic!) work”
Why the Asymmetry? Uneven passthrough could reflect several factors. First, asymmetric firm markup adjustment. When input costs rise, firms are forced to adjust prices upward to protect their profit margins given the constraint of bankruptcy. But when costs fall, firms might retain prices to expand margins, especially when they have market power. Second, the cost of changing prices (“menu costs”) could play a role. Given the cost of changing prices—both physical “menu costs” and the desire to avoid negative reactions to frequent price changes—firms may absorb small cost decreases rather than incur these broader adjustment costs with positive trend inflation. Third, the asymmetry could reflect downward nominal stickiness in prices and wages. When a positive energy shock erodes purchasing power, workers are likely to demand higher wages. Conversely, firms find it very difficult to cut nominal wages when their costs fall, meaning cost savings are not fully passed on through lower labour costs.
Podcast logo and picture of a European flag carried by a large number of people, probably a demonstration.
London Stadium, West Ham vs Arsenal
White asparagus from M&S
Two Italian hobby DJs jamming on their balcony.
Picture of a small river leading up to a beach and ocean.
Bertelsmann panel
Share of power generation. 35% low carbon in Italy, 40% gas, 20% imports
Economist cover showing an arrow going up into an explosion’s before pointing down.
Miniaturwunderland, EV charging station
Twitter profile of the French Response account, an official account of the French ministry of foreign affairs.
Chart showing real wages based on two different deflators.
Edward Hooper‘s Nighthawks, but with Deliveroo drivers picking up orders