Financial Markets

Op-Ed

What the 2014 Oil Crash Means

Author: Michael A. Levi
Politico Magazine

As oil prices continue to drop, Michael Levi argues that the benefit to American consumers will outweigh any damage to the U.S. economy. However, how you view this plunge in oil prices "depends a lot on where you live and what work you do."

See more in Global; Oil; Financial Markets

Op-Ed

Rebooting China

Author: A. Michael Spence
Project Syndicate

A. Michael Spence urges China's leaders to be steady-handed and sensible in their foreign policy and domestic reform agendas so as to maintain the kind of economic stability necessary for complex structural changes to work their way through the Chinese economy with minimal disruption.

See more in China; Financial Markets; Economic Development

Must Read

Project Syndicate: Death by Finance

Author: Dani Rodrik

"This is not the first time that developing countries have been hit hard by abrupt mood swings in global financial markets. The surprise is that we are surprised. Economists, in particular, should have learned a few fundamental lessons long ago."

See more in Global; Financial Markets

Op-Ed

How Fed Policy Roils Emerging Markets

Authors: Benn Steil and Dinah Walker
Wall Street Journal

Benn Steil's latest op-ed in the Wall Street Journal, co-authored with Dinah Walker, shows that developing countries running large current account deficits have seen their economies whipsawed by volatile capital flows triggered by unconventional monetary policy at the Fed and elsewhere in the developed world. The clear lesson for such countries is that they should pursue policies which constitute "currency manipulation" in Washington, thereby setting the stage for rising global trade tensions.

See more in United States; Financial Markets; International Finance