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November 27, 2006

Monetary Policy
Stephen Jen: only 60% of China’s reserves are in dollars.

Stephen Jen sometimes says the darnedest things.  Not about currencies.   But about reserves. His estimates for oil reserve growth have been consistently on the low side.   Norway, the UAE and Kuwait…

March 26, 2007

China
Commentary on the People’s Investment Company has been outsourced to Stephen Green

Stephen Green of Standard Chartered has the best analysis I have seen of the bureaucratic politics behind the creation of China’s new state investment company, as well as the best analysis of the con…

June 23, 2017

U.S. Foreign Policy
You Might Have Missed: Academic Journals VI

This is the sixth blog post in this series. The previous five were published in February, July, and October 2015, and January and May 2016, and highlight earlier academic findings. This post was coau…

woman looks into a book

August 14, 2006

United States
I don’t think Stephen Jen can argue that I have been inconsistent.

Wrong, maybe, but not inconsistent.Stephen Jen notes that China is not the only country with an enormous current account surplus that intervenes massively in the foreign exchange market – “If…

November 18, 2005

Monetary Policy
Stephen Kirchner needs to spend some time looking for petrodollars …

Stephen Kirchner (Institutional Economics) has taken particular glee in the recent TIC data, as recent inflows into the US has been large enough to finance even larger current account deficits than t…