Economics

Testimony

Federal Reserve Policy and Emerging Markets

Author: Benn Steil

In his testimony before the House Committee on Financial Services' Subcommittee on Monetary Policy and Trade, Benn Steil argues that changes in U.S. monetary policy can have significant impact on emerging-market capital inflows and outflows and that the resulting exchange rate movements against the dollar can have large and rapid effects on the level of inflation and exports.

See more in Global; Monetary Policy

Must Read

NYT: The House Edge

Authors: David Kocieniewski and Gretchen Morgenson

Articles in this series examine the challenges posed by Wall Street's influence over markets and the prices consumers pay.

See more in United States; Economics

Must Read

CRS: Bitcoin: Questions, Answers, and Analysis of Legal Issues

Authors: Craig K. Elwell, M. Maureen Murphy, and Michael V. Seitzinger

"This report has three major sections. The first section answers some basic questions about Bitcoin and the operation of the Bitcoin network and its interaction with the current dollar-based monetary system. The second section summarizes likely reasons for and against widespread Bitcoin adoption. The third section discusses legal and regulatory matters that have been raised by Bitcoin and other digital currencies."

See more in Global; Economics

Article

Political Parties at War: A Study of American War Finance, 1789–2010

Authors: Sarah Kreps and Gustavo A. Flores-Macias
The American Political Science Review

Sarah Kreps and Gustavo Flores-Macias study the history of war finance in the United States and show that politics does not stop at the water's edge and that instead, partisan politics is a key determinant for whether the United States has financed wars through taxes or alternatives such as borrowing.

See more in United States; Wars and Warfare; Economics