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October 8, 2004

Capital Flows
Find a way to spend the $18 billion in Iraq!

I have a certain interest in the topic, since in my first and so far only foray into oped writing, I supported the Bush Administration’s call for $20 billion in US grant aid for Iraq (in the end, con…

October 29, 2004

Financial Markets
David Wessel visited the Harvard economics department

Or at least talked to Summers and Rogoff, before writing his Thursday Wall Street Journal column. It is worth reading if you have access to the Journal. I agree with his bottom line: getting out of…

November 19, 2004

Greenspan in the news

Alan Greenspan’s comments on the US twin deficits are getting lots of play. Just saying that at some point foreign appetite for US assets is likely to diminish and won’t stay at its current strong p…

November 22, 2004

US economic policy does not pass the Chinese test

You could sort of see this headline coming: China tells the US to put its house in order. Lenders never like receiving lectures on sound economic policy from their borrowers. John Snow might have …

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…