402 Results for:

January 24, 2005

Budget, Debt, and Deficits
Hubbard is in pole position: the Sunday New York Time buried the lede

Apparently the Federal Reserve is beginning to worry that the Administration is not all that serious about reducing the fiscal deficit ... Wonder why. It seems like Martin Feldstein’s concerns abou…

November 24, 2004

Financial Markets
Chinese yuan hits new low against euro, swiss franc, pound …

Just a reminder of what falling dollar currently means. Dollar depreciation is clearly part of what is needed to bring the US trade deficit down to a more sustainable level. But what is the case fo…

December 21, 2005

Monetary Policy
Just what are the world’s central banks doing with their (growing) reserves

The IMF just released new quarterly data on global reserve accumulation (Hat tip, Menzie Chinn).   Just don't look to it to find out if the world's central banks are adding to their dollar or…

February 8, 2006

Monetary Policy
The central bank (and oil fund) bid

I am constantly amazed by the concern well paid Wall Street economists display for poor Chinese peasants.    China, you see, cannot revalue the RMB without devastating rural China.  A revalued RMB wo…

April 10, 2006

China
China worries the US may want a “competitive” dollar

Xia Bin, head of the financial research institute at the cabinet's Development Research Centre, didn't use Martin Feldstein's clever term though.  He worries about a weak dollar policy."W…

December 11, 2004

United States
The Global Test

My harping on the fact that US economic policy now has to pass a global test is not simply meant to score rhetorical points. I suspect that the same folks who financed the expansion of the US curren…

December 22, 2005

United States
Feldstein disagrees with Greenspan (politely)

I am a bit late here, John Berry reported on Martin Feldstein's paper on monetary policy in a world of more integrated global capital markets over a month ago.But it is still interesting to read …

March 14, 2006

United States
Why didn’t the current account deficit start to adjust in 2003? Will the adjustment start in 2006? And where are all the world’s reserves?

I think I can now welcome Brad DeLong to the "gloom and doom caucus, trade deficit division."  He joins some pretty good company:  Paul Volcker, Robert Rubin, Larry Summers, Warren Buffet, Martin Fel…

Why didn’t the current account deficit start to adjust in 2003?   Will the adjustment start in 2006? And where are all the world’s reserves?

March 27, 2006

Economics
The Economist’s Lexington columnist needs to get out a bit more …

Rather amazingly, the only US public intellectuals that seem to have made it onto Lexington's radar screen come from the American right.     The Neocon right and its pet idea (invading Iraq), the…

November 30, 2004

Emerging Markets
Just because one dollar currently buys something like a million and half Turkish lira …

That does not necessarily mean the Turkish lira is cheap. Right now, given Turkey’s almost US scale current account deficit (close to 5% of GDP), the lira probably is a bit overvalued. Turkey is go…