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October 18, 2005

Financial Markets
This week’s WSJ Econoblog is on Bretton Woods II

Mike Dooley of Deutsche Bank and UCSB makes the case that the new Bretton Woods system of fixed or heavily managed exchange rates on the "periphery" makes large (though not necessarily growing) curre…

October 17, 2006

China
A trillion dollars here, a trillion there and pretty soon you are talking about real money

I have written extensively about China and Chinese reserve growth recently. So I won’t use Tuesday’s Wall Street Journal article as the spring board for another long post.  Just a sort of long post.T…

December 14, 2006

China
Paulson in Beijing: Can’t get no satisfaction

That is what William Hess argues in Newsweek International.  China cannot give Paulson what he wants without jeopardizing its domestic goals.  Hess writes:"Secretary Paulson will likely return home e…

May 1, 2007

United States
No need to worry — the US isn’t going to run out of assets to sell to foreign investors any time soon …

In a comment in the Financial Times about ten days ago, David Hale argues that there is little need to worry about either the dollar or the US current account deficit.   The US has no shortage of fin…

August 20, 2007

Financial Markets
If the US dollar is now a refuge, what is the yen?

The dollar rallied a bit last week, but nothing like the yen.The Wall Street Journal’s Mark Whitehouse conflates – at least in my view -- deleveraging with safe haven flows.   Deleveraging means that…

August 23, 2007

Financial Markets
If the US Treasury doesn’t think the dollar is overvalued, can it also think that RMB is undervalued?

Christopher Swann of Bloomberg noticed the line in the IMF’s most recent Article IV report indicating that senior US officials objected the IMF’s conclusion – based on their model for equilibrium rea…

May 11, 2008

Monetary Policy
Taking stock of the dollar’s global role

Peter Goodman looks at the dollar – and the growing dollar reserves of emerging market central banks -- in today’s New York Times. He captures the poles of the debate well. Ken Rogoff argues that…

cofer_08_2

March 14, 2009

Monetary Policy
China has more to worry about than its Treasury holdings

Premier Wen knows how to get attention; all he has to do is raise a few doubts about China’s ongoing willingness to keep on buying US assets. The FT, the Wall Street Journal and the New York Times …

China has more to worry about than its Treasury holdings

July 2, 2009

Financial Markets
"A more balanced economy might allow the world to live with a less perfect financial system"

Mike Dooley and Peter Garber argue (at VoxEU) that the recent crisis has nothing to do with “Bretton Woods 2” -- an international monetary system where reserve growth in the “periphery” financed defi…

abs-v-yield-curve2

March 2, 2010

China
Web Not So Free?

Just a few weeks after Secretary Hillary Rodham Clinton contrasted two visions of the Internet, one free and open, the other splintered by "electronic barriers," the contrast between the two is growi…