16 Results for:

April 6, 2018

China
When Did the China Shock End? When Did the China Shock End?

Conventional wisdom among economists is that the China shock ended a decade ago. That is largely because the U.S. bilateral deficit with China has been fairly stable since 2007 (measured as a share o…

March 6, 2018

United States
How Will the U.S. Fund its Twin Deficits? How Will the U.S. Fund its Twin Deficits?

Will there be a mismatch between what the U.S. wants to sell (Treasuries) and what the world wants to buy?

March 8, 2017

United States
The January U.S. Trade Data The January U.S. Trade Data

Over the last year, U.S. import growth stalled. Capital goods imports did nothing—in part because of weakness in non-residential investment. And consumer goods imports were flat. That appears to hav…

February 14, 2017

China
How Serious Is the Threat to Global Financial Stability From a Border-Adjustment Tax?

Neil Irwin’s column on the border-adjustment tax spurred an interesting debate. Irwin notes that a 25 percent rise in the dollar (or even a somewhat smaller rise) would have an impact outside the Uni…

November 22, 2016

United States
Fiscal Reflation in One Country

President-elect Trump wants to cut taxes and increase investment in U.S. infrastructure (or at least provide a tax break for existing infrastructure investment) and doesn’t seem especially worried if…

March 12, 2015

Brazil
Why Is Walmart Raising Wages? Why Is Walmart Raising Wages?

On February 19, Walmart announced that it was raising its minimum starting wage to $9 an hour.  Since Walmart is famous for its ruthless cost management, this appeared to be a significant sign of …

October 23, 2012

Trade
Republican presidential nominee Mitt Romney makes a point as U.S. President Barack Obama listens during the final U.S. presidential debate in Boca Raton, Florida on October 22, 2012 (Scott Audette/Courtesy Reuters). A U.S.-China "Trade War": Time to Abolish a Silly Notion

I have a suggestion for everyone who writes about international trade: it is time to bury, once and for all, the concept of a “trade war.” The phrase is so ubiquitous that it will be awfully hard to …

February 22, 2012

Corporate Governance
President Obama and Treasury Secretary Geithner deliver remarks about executive compensation at the White House in February 2009 (Jonathan Ernst/Courtesy Reuters). Why the United States Needs a Real Corporate Tax Cut

There is no morally defensible reason for cutting corporate taxes at a time of deepening national debt that will require greater burdens for all Americans, either through higher taxes on income and c…

January 29, 2009

Budget, Debt, and Deficits
U.S. Recession U.S. Recession

As our chart indicates, the U.S. budget deficit is expanding at its fastest rate in the post-war era. Obama’s proposed fiscal stimulus will add to this deficit. This aggressive fiscal response is m…

October 30, 2008

Monetary Policy
Fed Balance Sheet Fed Balance Sheet

Complementing the IMF’s $100 billion liquidity facility, the Federal Reserve has announced the establishment of swap lines with the central banks of Mexico, Brazil, South Korea, and Singapore for u…