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…
November 12, 2004
Capital FlowsThere is a growing sense that the G-7 no longer is the right grouping for discussing today’s major international macroeconomic issues. It is hard to see, for example, how you can discuss "global reb…
November 29, 2004
Financial MarketsIt is not too hard to figure out what Japan is doing with its reserves. From the beginning of 2003 to September 2004, Japan’s official reserves increased by $360 billion. Over that time frame, Japan…
December 4, 2004
United StatesThis New York Times article delves into the management of both China and Japan’s reserves.One interesting tidbit -- the article suggests China’s reserves are now close to $600 billion. The last repo…
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…