153 Results for:

September 16, 2004

United States
Growing out of the trade deficit

The 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…

June 6, 2005

Economics
So will the proliferation of hedge funds end with a bang or a whimper

The number of hedge funds is about the only thing that has been rising faster than the price of residential real estate (at least in some markets). Probably not a coincidence: hedge funds and real e…

May 27, 2005

Economics
Housing bubbles, the great plains and the coast

Not 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…

April 6, 2005

Monetary Policy
Sometimes, it is worth listening to what policy makers in emerging economies are saying

The 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 Policy
Reserves to protect against everything short of the Apocalypse

That 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…

March 15, 2006

Emerging Markets
Feeding the hand that bites you …

Justin Lahart writes well; I stole the "feeding the hand that bites you" line from him.  It is a good one.The US tells China (oops, CNOOC) that it cannot buy Unocal, even though Unocal's energy a…

February 28, 2006

Financial Markets
Things that keep the President of the New York Fed up at night

The current account deficit, obviously.    NY Fed President Geithner isn't quite in the same place as Bernanke, at least in Bernanke's White House incarnation.And credit derivatives.   Partic…

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…

August 4, 2005

Capital Flows
Nation Building 101

Make sure the army gets paid on time.The reformed Iraqi Ministry of Defense, a crucial element of any American plan to withdraw troops, is riddled with crippling problems that have raised concerns ab…

May 22, 2006

Emerging Markets
The dollar is still a currency you run to …

At least if you have borrowed dollars to buy stocks in emerging economies that are tanking. The series of crisis that rocked emerging economies in the 1990s were a formative experience for me.   So M…