36 Results for:

July 24, 2019

International Economic Policy
The IMF (Still) Cannot Quit Fiscal Consolidation…

The IMF's country-level fiscal advice has an adding up problem. The IMF (over time) wants most countries to match the euro zone and head toward fiscal balance. That though would leave the world short…

A woman walks past the International Monetary Fund (IMF) logo at its headquarters in Washington, U.S., May 10, 2018. REUTERS/Yuri Gripas

June 17, 2019

International Economic Policy
Three Recommended Changes to U.S. Currency Policy

I have a new Policy Innovation Memo that recommends three changes to U.S. currency policy, and specifically, three changes to the U.S. Treasury’s Foreign Exchange report: 1. The Foreign Currency r…

Passers-by are reflected on a signboard displaying currency signs outside a bank in Tokyo November 27, 2014. REUTERS/Issei Kato/File Photo

March 8, 2019

United States
The U.S. Trade Deficit: How Much Does It Matter?

President Trump has made reducing the U.S. trade deficit a priority, blaming trade deals like NAFTA, but economists disagree over how policymakers should respond.

Chinese steel factory

November 14, 2018

Robots and Artificial Intelligence
A Conversation With Richard H. Ledgett Jr.

This symposium convenes policymakers, business executives, and other opinion leaders for a candid analysis of artificial intelligence’s effect on democratic decision-making.

Play A Conversation With with Richard H. Ledgett Jr.

April 24, 2018

International Economic Policy
Asia's Central Banks and Sovereign Funds Are Back

East Asia (China, Japan, and the NIEs) ran a $600 billion current account surplus in 2017. "Official" (central bank and sovereign fund) outflows accounted for about half of that. Asia's foreign excha…

Asia's Central Banks and Sovereign Funds Are Back

April 13, 2018

Thailand
Previewing the U.S. Treasury’s April Foreign Exchange Report

The U.S. Treasury Department’s next foreign exchange report is due on April 15—so it should come out soon, maybe even tonight. Normally the section on China attracts all the attention. But righ…

Previewing the U.S. Treasury’s April Foreign Exchange Report

February 16, 2018

United States
Mapping Capital Flows Into the U.S. Over the Last Thirty Years

Up until 2014, the growth in central bank dollar reserves closely mapped to the increase in U.S. net external debt. The past few years have been different: for the first time in a long time, yield-st…

Mapping Capital Flows Into the U.S. Over the Last Thirty Years

October 5, 2017

Eurozone
Official Investors and the Eurozone Debt Market

The share of Treasuries held by official investors—foreign central bank reserve managers as well as the Fed—has been going down in recent years. But the share of Eurozone bonds held by official inves…

Official Investors and the Eurozone Debt Market

September 13, 2017

South Korea
Weak Won, Tight Fiscal: Korea's Not-So Mysterious External Surplus

Korea's macroeconomic policies have had a greater impact on its pattern of trade than any free trade agreement.

Weak Won, Tight Fiscal: Korea's Not-So Mysterious External Surplus

June 29, 2017

United States
The Trump Dollar Revisited

Disaggregating the broad dollar.

Tracking the Broad Dollar