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March 23, 2008

Monetary Policy
There is now little doubt: the US relies on central banks and sovereign funds to finance its deficit …

This is Brad Setser once again. I am back from my spring break. I want to thank Dr. Frankel and Rachel Ziemba for taking my place last week. No one in their right mind paid much attention to the …

May 11, 2009

Emerging Markets
Sovereign bailout funds, sovereign development funds, sovereign wealth funds, royal wealth funds …

The classic sovereign wealth fund was an institution that invested a country’s surplus foreign exchange (whether from the buildup of “spare” foreign exchange reserves at the central bank or from the …

May 7, 2006

United States
Searching for the origins of dark matter

Hausmann and Sturzenegger, if nothing else, have spurred a lot of work with a catchy title and a bit of clever accounting. We now know that:Dark matter stems more from low (reported) returns on forei…

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March 31, 2011

Politics and Government
Is Operation Odyssey Dawn Constitutional? Part III

  Yesterday I noted that many legal scholars believe that while the text of the Constitution may not have given presidents an independent war-making authority, they have acquired that through two …

Part III

April 9, 2007

Monetary Policy
What have the world’s central banks been up to? The latest Treasury survey provides some clues

I suspect I am one of a very small number of people who eagerly awaits the publication of the Treasury’s annual survey for foreign portfolio investment.     Wall Street doesn’t find it particularly u…