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 6, 2004
Some facts: 1) In 2003, Japan increased its reserves by $200 billion, emerging Asia by $245 billion. The world as whole increased its reserves by $500 billion, so Asia accounted for most of the worl…
November 15, 2004
With apologies to Philip Coggan, I plagarized his FT headline from a few days ago -- he asked the same question as Brad DeLong, namely, why aren’t big bets from big macro hedge funds driving the doll…
November 24, 2004
Financial MarketsJust a reminder of what falling dollar currently means. Dollar depreciation is clearly part of what is needed to bring the US trade deficit down to a more sustainable level. But what is the case fo…
November 29, 2004
First, Russia decides it wants to hold more Euros and fewer dollars. And now Indonesia?"Indonesia’s Aslim Tadjuddin, deputy governor for monetary policy at the central bank, said on Nov. 26 that the…
December 7, 2004
United StatesOr more precisely, one of this year’s Nobel Prize winners in Economics seems to disagree with parts of the analysis Nouriel and I have been putting forward. It seems like Nouriel and I don’t underst…