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The Two Cents

Substack
thetwocents.substack.com· irregular· Published 2 days ago

Economists Hanno Lustig and Romain Wacziarg write about economic policy and political economy, using valuation models, bond spreads and public spending data to argue their points. Readers get data-driven analysis of equity return expectations, French fiscal and pension trends, and sovereign bond market dynamics.

cape ratioequity risk premiumexpected stock returnsfrench government spendingfrench pension reformoat bund spreadsovereign debtgordon growth modeltips yieldinterest rateseurozone bondsfiscal policy france
Platform
Substack
Frequency
Irregular
Latest issue
Oct 25, 2026
Language
English
Written for
Economics students, investors and policy-minded readers following macro and fiscal debates
Tone
analytical
Tracked since
Oct 27, 2026

Website: https://thetwocents.substack.com