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October 9, 2019

Taiwan
$130+ Billion in Undisclosed Foreign Exchange Intervention by Taiwan's Central Bank

Based on the profits and losses disclosed by Taiwan’s central bank, it appears that its true FX exposures exceed its disclosed foreign exchange reserves by USD 130bn, and perhaps by as much as USD 20…

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October 8, 2019

Taiwan
Could Taiwan’s Commercial Banks Cover the Lifers' Hedging Need? (Part 4)

Who is on the other side of the massive ($250 billion) hedging need of Taiwan's life insurance industry? The local banking system covers at most a quarter of the life insurers hedging need, and forei…

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October 4, 2019

Taiwan
Shadow FX Intervention in Taiwan: Solving a 100+ billion dollar enigma (Part 3)

This is the third post in a series* on Taiwan's life insurers and their private & sovereign FX hedging counterparties. It’s the product of a collaboration with S.T.W**, a market participant and frien…

Shadow FX Intervention in Taiwan: Solving a 100+ billion dollar enigma (Part 3)

April 20, 2012

Trade
Morning Brief: Affluence Correlates with Test Scores

The Brookings Institution released a report on the correlation between income inequality and school quality. Schools in more affluent areas are likely to have higher average test scores, and housing …

Parents and education advocates demonstrate on the steps of New York's City Hall for higher progressive taxes to close funding shortfalls in education. (Mike Segar/Courtesy Reuters)

March 17, 2009

Financial Markets
"Concentrations of risk, plagued with deadly correlations"

The FT’s Gillian Tett makes a simple but important point: AIG’s role in the credit default swap market meant that a lot of risk that the bank regulators thought had been dispersed into many strong ha…

July 1, 2019

China
China’s Bizarre May Intervention Numbers

With the Osaka Xi-Trump summit producing an indefinite "truce" that halts further escalation (at least for now), there is every reason to expect the yuan to remain stable. The intervention proxies (s…

China’s Bizarre May Intervention Numbers

December 15, 2011

Defense and Security
Guest Post: Linda Robinson on the End of the Iraq War

Members of the U.S. Air Force board a plane at al-Asad air base in Iraq before flying to the United States. (Mohammed Ameen/courtesy Reuters) I woke up this morning to an email inbox full of news al…

Members of the U.S. Air Force board a plane before flying to the U.S., at al-Asad air base in Iraq’s western province of Anbar November 1, 2011. U.S. President Barack Obama announced on Oct. 21 that American troops would fully withdraw from Iraq by year-end, as scheduled under a 2008 security pact between the two countries. Picture taken November 1, 2011. REUTERS/Mohammed Ameen

March 26, 2019

United States
When Tax Drives the Trade Data

The pharmaceutical industry's tax strategies appear to have a large impact on the trade data. There isn't any other obvious explanation for why the (goods) deficit in pharmaceuticals exceeds the surp…

When Tax Drives the Trade Data

March 21, 2019

Conflict Prevention
Waving Goodbye to Dinosaurs: The Strategic Advantage of Women at the Peace Table

Voices from the Field features contributions from scholars and practitioners highlighting new research, thinking, and approaches to development challenges. This post is authored by Monica McWilliams…

Monica McWilliams and members of the Northern Ireland Women's Coalition speak to the press outside the Stormont Assembly building during the Good Friday Negotiations.

March 7, 2019

Women and Women's Rights
International Women's Day: Pushing for Parity in Power

International Women’s Day affords an opportunity to reflect on the victories and ongoing struggles faced by women around the world. This year, there is much to celebrate—particularly in the realm of …

Afghan women line up at a polling station during parliamentary elections in Kabul, Afghanistan October 20, 2018.