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June 23, 2009

United States
Yes Virginia, there was an international financial crisis in 2007 and 2008

Now that the markets have lost a bit of their froth, it seems fitting to note just how sharply trade -- and private financial flows -- have contracted over the past year. The US q1 balance of paym…

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May 23, 2013

Fossil Fuels
Is OPEC a Paper Tiger? A New Study Says Yes

We all know that OPEC colludes to keep oil off the market and prices high. Or do we? There is actually remarkably little agreement on whether OPEC is any good at what it aspires to do. Does membershi…

September 2, 2008

Monetary Policy
Yes, Virginia – Creditors do sometimes get a vote …

This is Brad Setser again. Thanks to Christian Menegatti and Rachel Ziemba for filling in when I was away. It is only fitting to return with one of my pet themes: central bank demand -- or rather,…

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June 21, 2007

Financial Markets
Yes, Virginia, exchange rates do matter (JPY edition)

The yen depreciates.   Against the dollar, bien sur.   But especially against the euro and other European currencies.    Guess what happens?Japanese exports to Europe rose by nearly 18% (y/y) in May…

October 4, 2010

China
Wen Jiabao’s Last Stand on Political Reform: Can he do it? Yes he can?

Chinese Premier Wen Jiabao has thrown down the gauntlet. In a fascinating interview with CNN’s Fareed Zakaria, Wen committed himself to fight for political reform, even in the face of what he acknowl…

China’s Premier Wen Jiabao (top) delivers a speech on a stage as other Chinese top leaders are seen at a reception marking the 61st anniversary of China at the Great Hall of the People in Beijing September 30, 2010. China celebrates its National Day on October 1.