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December 22, 2004

One more point on Martin Wolf

It is a simple point, but an important one. Wolf says the United States would be fine if it reduced its current account deficit from 6% of GDP to 3% of GDP. External debt to GDP then stabilizes at …

March 9, 2005

Emerging Markets
Brad DeLong covers the Argentine crisis, in one night

DeLong is clearly working his way through Paul Blustein’s book on Argentina. Martin Wolf has a column on Argentina’s restructuring in yesterday’s Financial Times, which I quite liked, for rather obv…

April 19, 2005

Emerging Markets
Martin Wolf, Korea’s Central Bank, and Collateralized Debt Obligations

Somehow, all three are linked together today in my mind. And at some level, they do all connect. As Martin Wolf notes, Asia’s current account surplus (savings surplus) shows up in the phenomenal gr…

April 27, 2005

United States
The comfortable road to ruin …

Read Martin Wolf’s latest column. His focus on emerging economies -- particularly in Asia -- is dead on. The "glut" of global savings originates there, far more than in Europe. The Euro zone’s cur…

April 29, 2005

Emerging Markets
China Trip Report

Nouriel and I put pen to paper and laid out our take on China. Our paper reflects on the trip we took there last month, along with the reading we did to prepare for the trip. There is nothing new her…