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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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…
November 8, 2005
Europe
More flexible labor markets, less business investment?
Apologies for being one day late discussing a Peaple/ Teitelbaum article in Monday's Wall Street Journal called "UK business investment lags." My title is intentionally a bit overstated, but I was s…
December 7, 2005
China
There is a consensus: China needs to consume more
See Olivier Blanchard and Francesco Giavazzi's latest paper on China. Blanchard (last seen on these pages back in September) and Giavazzi have laid out a comprehensive economic program for China, o…
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…
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…