Economics

Article Author: Edward Alden
Nikkei Asian Review

The government of India filed suit on March 3 in the World Trade Organization (WTO) seeking to overturn a new U.S. tax on high-skilled migrants that India says discriminates against its citizens and would damage some of its most successful companies. The case marks the first time that a country's immigration laws have been challenged using the rules of a trade agreement, writes CFR’s Edward Alden.

See more in India; United States; Trade; International Organizations and Alliances

Testimony

Energy Prices and Crisis Risks

Author: Robert Kahn

Robert Kahn testified before the Senate Committee on Foreign Relations, describing the crisis risks generated by persistently low oil and gas prices. He argued that the risks are especially acute for energy exporters such as Venezuela and Nigeria, and that such countries need sizable policy adjustments in the immediate future.

See more in Americas; Global; Oil; Financial Crises

Event

A Conversation With Robert J. Shiller

Speaker: Robert J. Shiller
Presider: Peter R. Orszag
Introductory Speaker: Robert E. Rubin

Robert J. Shiller discusses the importance of economic irrationality, crowd behavior, and other elements of behavioral finance in understanding the global economy and making effective economic policy.

See more in Global; Economics

Other Report

Global Economics Monthly March 2016

Author: Robert Kahn

Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that the International Monetary Fund (IMF) deserves credit for effectively responding to the global and European financial crises. However, the institution will face different and potentially more difficult challenges in the next five years as it struggles to come to terms with a changing international power order and lending rules that are not well suited to address future crises.

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Foreign Affairs Article

The IMF’s Next Five Years

Author: Robert Kahn

In the next five years, the International Monetary Fund (IMF) will face new challenges as it struggles to come to terms with a rapidly changing global marketplace and with lending rules poorly suited for the crises the institution will likely face. These challenges will force the IMF to scrutinize and adjust its lending rules. A broader issue is also at play: financial markets are becoming bigger more quickly than the institution’s resources are, and IMF rescue alone may be insufficient in the future . How the financing burden is shared with other official creditors will help determine whether the fund is an effective leader of the global effort to prevent and resolve economic crises in the coming decades.

 

See more in Global; International Finance; International Organizations and Alliances

Book

State Capitalism

Author: Joshua Kurlantzick

The combination of new technologies, the perceived failures of liberal economics and democracy in many developing nations, the rise of modern authoritarians, and the success of some of the best-known state capitalists have created an era ripe for state intervention. In State Capitalism, Joshua Kurlantzick ranges across the world—Brazil, China, Russia, South Africa, Thailand, Turkey, and more—and argues that the increase in state capitalism across the globe has, on balance, contributed to a decline in democracy.

See more in Global; Economics; Organization of Government

Primary Sources

Issued by the Office of Management and Budget, the Budget of the United States Government is a collection of documents that contains the budget message of the President, information about the President's budget proposals for a given fiscal year, and other budgetary publications that have been issued throughout the fiscal year. Other related and supporting budget publications, such as the Economic Report of the President, are included, which may vary from year to year.

See more in United States; Budget, Debt, and Deficits