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…
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June 10, 2008
Budget, Debt, and Deficits
Shhh.. don’t tell any one. The US trade deficit is getting worse, not better
The $60.9 billion monthly April trade deficit was the largest monthly deficit since last March. So much for the notion that the trade deficit has turned the proverbial corner. One price explains …
June 8, 2008
Financial Markets
Ken Rogoff is also confused by the US policy towards dollar pegs
It is nice to be in good company. Ken Rogoff is as confused by US policy toward dollar pegs as I am. Rogoff: Does it make sense for the United States Treasury Secretary, Hank Paulson, to be tourin…
April 16, 2008
Economics
Blog envy: on Europe, the G-7 and the Fed
Paul Krugman (who hardly needs a plug from me), Macro Man and Steve Waldman (of interfluidity) have all written posts that I wish I had written. Krugman elegantly shows that a lot of American stereo…
April 6, 2008
Financial Markets
A RMB that isn’t appreciating cannot be killing you …
The premise of Joe Nocera’s New York Times story “Two factories, two firms” is logical enough: an appreciating RMB should hurt a low-end, cost-conscious textile exporter and help a higher-end manufac…
March 25, 2008
Monetary Policy
Record reserves, Record reserve growth, record reserve currency angst -
Over the past several weeks: Thailand’s reserves topped $100b. Thailand, lest anyone forget, basically ran out of cash reserves back in 1997 (counting its forward commitments) - sending a clear …