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November 26, 2005

Economics
Kansas is flat, the world is not …

To paraphrase the New Economist, the Financial Times must think the world is flat.  They just gave Tom Friedman the inaugural Financial Times/ Goldman Sachs book prize last week - for a book based on…

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October 2, 2005

Capital Flows
A consequence of saying no to China’s (oops, CNOOC’s) bid for Unocal?

Or just the natural result of expectations that China's demand for imported energy will soar in the future?  Probably a bit of both. China clearly has no particular desire to export democracy, o…

August 30, 2005

Economics
Rubin doctrine of international finance v. Greenspan doctrine …

The Rubin doctrine of international finance (From In an Uncertain World):1. The only certainty in life is that nothing is ever certain.2. Markets are good, but they are not the solution to all proble…

June 14, 2006

Financial Markets
The shifting balance of oil power

The Wall Street Journal has noticed that the state is no longer in retreat from the commanding heights of the global economy.  The basic pattern of capital flows is now set by central banks, not priv…

April 24, 2006

RGE pays my salary, not the IIE — and I am not exactly a true believer in dark matter

Patrick Smith seems to be based in Hong Kong, so I guess I can forgive him for thinking I work for the IIE (the Institute for International Economics).  The IIE is a great place, but they , alas, don…

April 2, 2006

Europe
Daniel Gross continues to say interesting things about the global economy

Daniel Gross has noted one other way the US and continental Europe are more alike than different - corporate success hasn't translated into broad-based wage gains.    Corporate profits are rising…

December 13, 2006

Economics
Image, reality and the global flow of funds …

Most participants in US financial markets -- I suspect -- tend to think of the US market as a key global hub, with US financial markets serving helping to match the world's savings with the world…

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February 4, 2007

Financial Markets
The mechanics of the carry trade, revealed … (sort of)

Andrew Rozanov of State Street knows a thing or two about how official institutions manage their money (that is a big part of his current job) and a thing or two about Japan (he was based in Tokyo fo…

December 16, 2007

Economics
Weekend extra-credit -

Weekend reading for all those waiting for the US current account and TIC data on Monday. Time for a strong rupee policy?  This weeks’ Economics focus column intelligently discusses the policy d…

March 8, 2009

Financial Markets
The shadow financial system – as illustrated in three new papers that cut through the London fog

Gordon Brown wants to shine a bit more light on the shadow financial system (hat tip IPEZone). One plank of his G-20 action plan is: "reform of international regulation to close regulatory gaps so …