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December 23, 2008
Martin Wolf of the Financial Times sees three broad lessons in the teachings of John Maynard Keynes that are relevant for today's financial crisis.
See more in Financial Crises
December 19, 2008
Carmen Reinhart and Kenneth Rogoff compare the aftermath of severe financial crises in advanced and emerging countries. They find that these crises are associated with deep declines in output and employment.
See more in Financial Crises
November 14, 2008
Paul Krugman argues that we are well into the realm of 'depression economics'-a state of affairs like that of the 1930s where usual economy policy tools have lost all traction.
See more in Economics
June 2008
This special report examines the potential adaptations of the International Monetary Fund to the global financial crisis, calling this "an ideal stage for the IMF to reaffirm its position as a pivotal institution in bringing together information and analysis on a global scale, and in trying to console the diverging interests of its member states."
See more in Financial Crises, International Organizations
November 10, 2008
The Wall Street Journal reports on China's plan to bolster its economy with an injection of $586 billion or four trillion yuan, an enormous sum compared with China's six trillion yuan annual budget for 2008.
See more in China, Financial Crises
November 9, 2008
Munchen argues that the Bank of England's move to cut the interest rate to 3 percent is unlikely to help prevent the UK's impending economic slump because "channels through which monetary policy affects the real economy are still clogged."
See more in U.K., Financial Crises
November 8, 2008
The G-20 meeting in Washington on November 15 is an opportunity for India to help shape the new global economic architecture in line with its strategic interests. India should propose short-term crisis response actions and suggest a clear medium-term agenda.
See more in India, Emerging Markets, Financial Crises
October 29, 2008
The Economist calls the Fed's decision to lower its rate to 1 percent "a sign of how the locus of the crisis has shifted from developed to emerging markets, requiring a corresponding shift in policy."
See more in Emerging Markets, Financial Crises
October 22, 2008
Newsweek asks winners of the Nobel Prize in Economic Sciences to advise the next president on crafting a plan to revive the slumping U.S. economy.
See more in United States, Financial Crises
October 12, 2008
Economist Paul Krugman asserts that, under Prime Minister Gordon Brown's leadership, the UK moved more swiftly and decisively than the U.S. in response to the financial crisis.
See more in U.K., Financial Crises, International Finance
January 2008
A strategy paper examining what circumstances necessitate a fiscal stimulus package and how that package can most effectively be implemented.
See more in United States, Financial Crises
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In Money, Markets, and Sovereignty, the authors present a fascinating intellectual history of monetary nationalism from the ancient world to the present and explore why, in its modern incarnation, it represents the single greatest threat to globalization.
In The Closing of the American Border, Edward Alden goes behind the scenes to tell the story of the Bush administration’s struggle to balance security and openness in the wake of the September 11, 2001, terrorist attacks.
In Termites in the Trading System, Jagdish Bhagwati reveals how the rapid spread of preferential trade agreements endangers the world trading system.
In Regional Monetary Integration, Peter B. Kenen poses an important question: Should various country groups follow the lead of the European Monetary Union and form similar full-fledged monetary unions?
In contrast to conventional wisdom, the growth in government spending and heightened regulation during the Great Depression may have done much to slow economic recovery.
In this report, Benn Steil shows that the financial crisis is the inevitable bust of a classic credit boom, and explains how monetary, taxation, and home ownership promotion policy combined with other feaures of the financial system to fuel an unsustainable buildup in debt. He recommends significant reforms to reverse the debt financing bias and make the system more resilient to falls in asset prices.
In order for policymakers to tackle today’s global economic crisis, this report argues, they must go beyond bailouts and stimulus packages and focus on one of the crisis's root causes: imbalances between savings and investment in major countries.
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