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International efforts, such as the Paris Agreement, aim to reduce greenhouse gas emissions. But experts say countries aren’t doing enough to limit dangerous global warming.
January 5, 2005
Budget, Debt, and DeficitsIf you cannot tell from the title, this is going to be a rather wonky post. Nouriel and I are working on a paper on "Bretton Woods Two," so I have been delving into some data on the Treasury market. …
January 8, 2005
A standard rule of thumb, mentioned by Paul Blustein in his excellent look at the impact of a falling dollar on US trade last week, is that a 10% fall in the broad dollar leads to a $100 billion fall…
January 11, 2005
Emerging MarketsBefore Argentina’s default, Adam Lerrick thought the IMF (or the G-7) should offer to buy Argentina’s bonds at 60 cents on the dollar. Argentina is now offering bondholders an exchange that will be …
February 17, 2005
The Wall Street Journal says everyone in the world would benefit from a dose of Cowboyeconomics. You know, exporting tons of debt, to support consumption growth well in excess of income growth ... …
February 20, 2005
Capital FlowsThe US borrows about 1/5 of all the money the federal government spends, and most of the borrowed money comes from abroad: foreign purchases of Treasuries in 2004 exceeded the (net) issuance of Treas…