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…
November 1, 2004
United StatesRichard Cooper has an oped in today’s FT (avaible here, subscription needed) arguing that the US current account deficit is "not only sustainable, it is perfectly logical". Cooper argues that a $500 …
November 5, 2004
Financial MarketsThe dollar is falling even with strong jobs numbers. That makes sense. Jobs = consumption = trade deficits, especially since bush = no tax cuts and rising spending (spending on the war and homeland…
November 7, 2004
United StatesNouriel and I have just posted our updated analysis of US external sustainability, i.e. the United States capacity to continue to run large trade and current account deficits.The paper is certainly l…
November 11, 2004
Or so the FT reports. The Bank of Korea seems to have concluded the Korean won was strong enough and bought dollars/ sold won to limit the won’s appreciation. And the Bank of Korea may not have bee…
November 12, 2004
Capital FlowsThere is a growing sense that the G-7 no longer is the right grouping for discussing today’s major international macroeconomic issues. It is hard to see, for example, how you can discuss "global reb…