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August 29, 2018

Australia’s New Brutal Politics—Not New, and Not That Brutal

Tom Switzer is executive director of the Centre for Independent Studies in Sydney and a presenter at the Australian Broadcasting Corporation’s Radio National.  As Australia welcomes Scott Morrison a…


September 28, 2017

The IMF’s China Problem

Giving macroeconomic policy advice to a country that saves 46 percent of its GDP is hard. Imprudent domestic policies help limit large external (trade) imbalances, and more prudent domestic policies …

The IMF’s China Problem

May 12, 2017

U.S. Foreign Policy
Moored to Memory: The Problem of the Past in U.S.-Australia Relations

Now that the reverie aboard the USS Intrepid has receded into memory, it is time to ask just what, precisely, Australian Prime Minister Malcolm Turnbull achieved on his recent visit to New York and m…

U.S. President Donald Trump and Australia's Prime Minister Malcolm Turnbull deliver brief remarks to reporters as they meet ahead of an event commemorating the 75th anniversary of the Battle of the Coral Sea, aboard the USS Intrepid Sea, Air and Space Museum in New York, U.S. May 4, 2017. (Jonathan Ernst/Reuters)

October 28, 2015

Emerging Markets
Currency Crises in Emerging Markets

Projected capital outflows are placing pressure on the currencies of some of the world most dynamic emerging markets. 

Currency exchange in Istanbul

March 21, 2014

Will Justice Be Part of the Post-2015 Development Agenda?

This piece is part of an ongoing Development Channel series on global justice and development. Whether or not justice will be part of the world’s post-2015 global development agenda remains an open …


July 27, 2009

The problem with relying on the dollar to produce a real appreciation in China ...

Is now rather obvious. The dollar goes down as well as up. Last fall, demand for dollars rose -- in part because Americans pulled funds out of the rest of the world faster than foreigners pu…


January 28, 2009

Monetary Policy
Central banks were not the big buyers of synthetic triple AAA …

Ricardo Caballero argues that the current crisis stems from (flawed) efforts to construct safe assets out of risky assets in order to meet a surge in investor demand for safe assets. He is on to som…

December 1, 2008

Monetary Policy
Bretton Woods 2 and the current crisis: any link?

Last week, I attended a conference on international financial reform. These kinds of conferences don’t really produce consensus; there is no need to agree on anything. But there was a sense -- a…

October 20, 2008

United States
How far will the US trade deficit fall next year?

US exports have been growing faster than non-oil imports for the last two years. The August trade data hints at a slowdown in exports. But at least on a y/y basis, the slowdown remains modest. …

How far will the US trade deficit fall next year?

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 …