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…
September 16, 2004
United StatesThe U.S. government’s spin on the widening trade deficit is that it reflects a growth deficit in the rest of the world. This spin does not hold up well. All parts of the world other than Europe are…
April 2, 2005
Big valuation gains on US assets abroad (particularly US assets in Europe) have done wonders for the US net international investment position. Gains of X in 02, Y in 03, and maybe $400 billion in 0…
April 6, 2005
Monetary PolicyThe Koreans, I suspect, let the cat out of the bag. Korea knows the value of reserves, and the risks of holding too few reserves. Indeed, absent an IMF loan and a last-second deal with their credit…
April 14, 2005
Monetary PolicyThat quote comes from the IMF’s chief economist in today’s Financial Times:A number of emerging markets, especially in Emerging Asia, have built up reserves to protect against everything short of the…
May 27, 2005
EconomicsNot all parts of America are enjoying a housing bubble. $65,000 will buy a brick home with three bedrooms and a two car garage in Stafford Kansas, though maybe not ten acres of prairie as well. Low…