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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April 11, 2007
Emerging Markets
It is hard for the world to diversify away from the dollar when the world’s holdings of dollars need to rise by about a trillion a year
OK, I probably should strike “world” and insert “the world’s governments” instead. It is pretty clear that central banks and oil investment funds provided the bulk of the financing the US needed in …
December 19, 2005
China
The Chinese conundrum: External (financial) strength, domestic (financial) weakness
I disagree with Michael Mandel on the US current account deficit - I think it is a concern, he doesn't. We also disagree on the US fiscal deficit. He doesn't think it is a big problem; I disagree…
November 17, 2006
Monetary Policy
The world, in a single graph
Actually, this post should be titled “everything I think I know about the world, in a single graph.” The following graph combines various measures of dollar reserve growth with data on the overa…
June 21, 2009
China
The good and bad news in the World Bank’s China Quarterly
The good news in the latest World Bank China Quarterly: One. China is growing, thanks to China’s government. The World Bank estimates that the government’s policy response will account for abou…
September 16, 2005
United States
Has the US outsourced creative thinking about external adjustment to … France?
Many have noted that President Bush likes French-style vacations. Not so many have noticed that French economists have been at the forefront of thinking about the US current account deficit, and the…
