Council of Councils
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Introduction
Over the last several decades, governments have collectively pledged to slow global warming. But despite intensified diplomacy, the world is already facing the consequences of climate…
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June 5, 2005
Emerging Markets
Argentina completed its bond exchange (and my paper with Anna Gelpern on Argentina is now available too)
Some things do change. For the first time in a long time, Argentina is paying its international bonds. It completed its bond exchange last week, delivered the new bonds to its investors, and made t…
March 1, 2023
Economics
The World Bank Stepped Up During the Pandemic
The World Bank (and the IMF) should get credit for increasing their lending to the world's poorest countries during the pandemic. But without additional action, net flows to developing economies will…
July 3, 2017
China
Strong Evidence That China's Tourism Deficit Is Overstated
Comments on an important new Federal Reserve Working Paper by Anna Wong
June 16, 2014
Budget, Debt, and Deficits
Argentina Wins/Loses
Argentina won an important contest last night at the World Cup, on a fine Messi goal. However, while I’m a firm believer that nothing is more important than football, Argentina’s loss at the U.S. Su…
October 2, 2008
Financial Markets
Systemic crises
A systemic financial crisis is one that affects the "system" -- not a single institution. In my view, the US -- and perhaps the US and Europe -- are now facing one. Systemic crises aren’t new. …