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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…

Blog Post by Brad W. Setser Follow the Money

April 30, 2007

United States
Dani Rodrik, Steve Waldman, China’s impact on US export prices and the risk of “financial” Dutch disease …

Dani Rodrik didn’t take long to stir up the blogosphere (see Steve Waldman, among others).   Rodrik makes an interesting point:   Trade doesn’t cut inflation.   Sure, it lowers prices for impor…

Blog Post by Brad W. Setser Follow the Money

June 8, 2007

Monetary Policy
When the right hand doesn’t talk to the left hand … (and some musing on this week’s move in the Treasury market)

 Total “official” (central bank) holdings of Agencies at the end of q1 2007 according to the Federal Reserve’s flow of funds: $537.4b (table L107)Agencies held by the Federal Reserve Bank of New York…

central_bank_demand_quarters
Blog Post by Brad W. Setser Follow the Money

August 6, 2007

Monetary Policy
The housing market shouldn’t bank on a PBoC put …

Yes, Virginia, seeking higher dollar returns to offset the dollar’s depreciation does mean taking on more risk.  And Steve Schwarzman wasn’t going to underprice his IPO just because China underpriced…

Blog Post by Brad W. Setser Follow the Money

August 17, 2007

Financial Markets
Conduits, SIVs, cash-hoarding, commercial paper restructuring and such

Yves Smith of Naked Capitalism is right – If Gillian Tett of the FT disappeared, we would be in a whole lot of trouble. I wouldn’t be surprised if a lot of central bankers rely on her reporting to…

Blog Post by Brad W. Setser Follow the Money