Maurice R. Greenberg Center for Geoeconomic Studies

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Loose Money Follies

In this op-ed, Benn Steil argues the U.S. Federal Reserve has seriously damaged the credibility of the policy framework its chairman has long championed, inflation targeting, by pursuing objectives inconsistent with price stability.
Featured Issue
Government Sponsored Enterprises
Financial markets believe that the game is up for Fannie Mae and Freddie Mac, the Government Sponsored Enterprises that provide or guarantee half of the mortgages in the United States. As our graph shows below, there has been a sharp spike in the implied probability of GSE bankruptcy. Are we prepared for a GSE collapse? How will the mortgage market continue to function? The following articles tackle these questions.
FT: The way forward for Fannie and Freddie
Barron's: The Endgame Nears for Fannie and Freddie
U.S. Treasury: GSE Initiatives
WSJ: Truce Time in the Fan-Fred Wars
WSJ: Greenspan Sees Bottom in Housing, Criticizes Bailout

Recent Research and Commentary

Blog -- Brad Setser: Follow the Money

Interesting
September 5, 2008

Don’t cry for Saudi Arabia
September 4, 2008

Forget about the CIC. The state banks are the real story for now
September 3, 2008

Yes, Virginia – Creditors do sometimes get a vote …
September 2, 2008

Where Is this U.S. Recession Already?
August 29, 2008

Geoeconomics Working Paper

Trade Liberalization: Cordell Hull and the Case for Optimism

In this Working Paper, Douglas A. Irwin makes the case for optimism on the free-trade cause. He traces Cordell Hull’s path through the decades and shows how Hull’s legacy lights the way for leaders of both political parties.

Meetings

Climate Change and the Upcoming G-8 Summit [Rush Transcript; Federal News Service]

July 3, 2008

Global FDI Policy : Correcting a Protectionist Drift [Rush Transcript; Federal News Service]

June 26, 2008

How to Manage China's Challenge to the Global Economy [Rush Transcript; Federal News Service]

June 19, 2008

Op-Eds

It's Morning in America for Obama, Michelle Shows

Amity Shlaes

Bloomberg

Doha - The Last Mile

Jagdish N. Bhagwati and Arvind Panagariya

New York Sun

The Selfish Hegemon Must Offer a New Deal on Trade

Jagdish N. Bhagwati

Financial Times

CGS Resources

Experts
CGS Fellows with an expertise in international finance.

Roger M. Kubarych

Henry Kaufman Adjunct Senior Fellow for International Economics and Finance

Brad W. Setser

Fellow for Geoeconomics

Benn Steil

Senior Fellow and Director of International Economics

Council Special Reports

Global FDI Policy

David M. Marchick and Matthew J. Slaughter

Council Special Report No. 34

June 2008

Climate Change and National Security

Joshua W. Busby

Council Special Report No. 32

November 2007

The Case for Wage Insurance

Robert J. LaLonde

Council Special Report No. 30

September 2007

Reform of the International Monetary Fund

Peter B. Kenen

Council Special Report No. 29

May 2007

The Economic Logic of Illegal Immigration

Gordon H. Hanson

Council Special Report No. 26

April 2007
Top Issues
Jackson Hole
Can the Federal Reserve bring clarity to the financial crisis? These papers, which were presented at the Fed’s recent retreat in Jackson Hole, reflect on the stability of the financial system and the role of regulators and monetary authorities.
Central Banks and Financial Crises
Financial Crises in Historical Perspective
Asset Prices and the Credit Cycle
Liquidity in Financial Crises
Regulation and Prudential Supervision

China
Can China's boom outlast the Beijing olymipics? These articles investiagate China's need to sustain growth against the need to limit inflation.
Economist: Swifter, higher, weaker
WSJ: The Olympic Economy
David Dollar: On the Eve of the Olympics
Yongding Yu: 2008 China's Economy
World Bank: China Quarterly Update

Credit Crisis
The fallout from last August's crisis continues. These articles explore what needs to be done to keep the financial crisis from spilling over into the broader economy and reduce the risk of future crises.
Economist: Credit Crunch
Gillian Tett: Big Freeze
Martin Wolf: Living Dangerously
Testimony: Systemic Risk
Federal Reserve Bank: Remarks

Foreign Affairs

Reconsidering Revaluation

David D. Hale and Lyric Hale

The Return of Authoritarian Great Powers

Azar Gat

CGS Newsletter

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Maurice R. Greenberg Center for Geoeconomic Studies

Featured Issue

Government Sponsored Enterprises

Recent Research and Commentary

Geoeconomics Working Paper

CGS Resources

CGS Fellows with an expertise in international finance.

Top Issues

Jackson Hole

Can the Federal Reserve bring clarity to the financial crisis? These papers, which were presented at the Fed’s recent retreat in Jackson Hole, reflect on the stability of the financial system and the role of regulators and monetary authorities.

China

Can China's boom outlast the Beijing olymipics? These articles investiagate China's need to sustain growth against the need to limit inflation.

Credit Crisis

The fallout from last August's crisis continues. These articles explore what needs to be done to keep the financial crisis from spilling over into the broader economy and reduce the risk of future crises.

CGS Newsletter