37 Results for:

August 30, 2005

Economics
Rubin doctrine of international finance v. Greenspan doctrine …

The Rubin doctrine of international finance (From In an Uncertain World):1. The only certainty in life is that nothing is ever certain.2. Markets are good, but they are not the solution to all proble…

January 13, 2006

United States
On the origins of dark matter

Stephen "Current accounts almost always don't matter" Jen is intrigued by Ricardo Hausmann and Fredrico Struzenegger's discovery of dark matter.   Lots of others are too.   Michael Mandel for…

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September 15, 2005

Europe
Why is consumer demand so weak in Germany?

David Wessel writes in today's Wall Street Journal: "Germany, alas, is showing few signs of a Japanese style rebound.  It is, essentially, relying on lower wages to make exports more competitive …

April 24, 2006

RGE pays my salary, not the IIE — and I am not exactly a true believer in dark matter

Patrick Smith seems to be based in Hong Kong, so I guess I can forgive him for thinking I work for the IIE (the Institute for International Economics).  The IIE is a great place, but they , alas, don…

March 14, 2006

United States
The 2005 (and 2006) current account deficit

The 2005 current account deficit: $805 billion. or 6.4% of US GDP That is a bit smaller than I expected.    The q3 deficit was revised down.  Reinsurance payments were higher than initially foreca…

December 8, 2005

United States
Emerging market bubble watch - and a word or two on dark matter

Ecuador is the kind of country that can borrow only when times are really, really good for emerging economies.  It has been and - as far as I can tell - remains politically dysfunctional.   It tends …

July 19, 2006

China
Chinese growth accelerates, RMB depreciates

That was yesterday’s headline.   Or, given the time differences, perhaps the headline from two days ago. Chinese second quarter growth picked up to 11% plus.  The only real surprise here was that the…

February 19, 2007

Economics
The globalization of finance: Household carry trades

Garnham and Tett’s large article last week on the risks of the carry trade – or perhaps the absence of risk, as they hint the big carry traders are now insured v. a surge in yen/ dollar volatility (a…

September 14, 2007

United States
The q2 US current account data

The q2 US current account data poses two puzzles. The first is the sharp drop off in official inflows in q2.   They fell from $150b in q1 to $70b in q2.   That fall was, incidentally, offset – mechan…

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January 28, 2009

Monetary Policy
Central banks were not the big buyers of synthetic triple AAA …

Ricardo Caballero argues that the current crisis stems from (flawed) efforts to construct safe assets out of risky assets in order to meet a surge in investor demand for safe assets. He is on to som…