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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December 19, 2004
Plaza, or Louvre?
The 1985 Plaza accord sought to drive the dollar down; the 1987 Louvre sought to keep the dollar from falling further. There is growing talk of a new Plaza in the US -- though not in the circles tha…
February 24, 2005
Monetary Policy
An Asian OPEC?
A less kind headline might be "Asian policy makers meet, agree to continue manipulating foreign exchange markets" Still, this Bloomberg article (link thanks to Calculated Risk) suggests that there ma…
August 16, 2005
Budget, Debt, and Deficits
Well, the 2005 fiscal deficit looks good …
I'll leave it to others (Brookings, Goldman, CBPP, DeLong with some help from Concord Coalition) to transform the CBO forecast into realistic projections. Manipulating the CBO long-term budget forec…
September 22, 2005
Monetary Policy
Where are the world’s reserves going?
In my post "has the US outsourced creative thinking about external adjustment to France," I noted that purchases of Treasuries by central banks have fallen off - even though global reserve accumulati…
December 22, 2005
Budget, Debt, and Deficits
Memo to John Snow: Do housing bubbles count?
John Snow's latte-drinking budget mythmaking has gotten plenty of (fully warranted) criticism already, but I'll still pile on. Snow argues that the large budget surplus at the tail end of the Clinton…