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International efforts, such as the Paris Agreement, aim to reduce greenhouse gas emissions. But experts say countries aren’t doing enough to limit dangerous global warming.
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September 22, 2005
Monetary Policy
Where are the world’s reserves going?
In my post "has the US outsourced creative thinking about external adjustment to France," I noted that purchases of Treasuries by central banks have fallen off - even though global reserve accumulati…
February 21, 2013
China
Dr. Strangelove or: How China Learned to Stop Worrying and Love the Dollar
China has since 1994 operated some form of currency peg, harder or softer, between its yuan and the U.S. dollar. While China’s state-run Xinhua news agency has in recent years railed against U.S. …
October 8, 2008
Monetary Policy
Can the G7 Save the Market?
The Federal Reserve has announced a series of extraordinary measures to unclog credit markets. However, credit markets remain frozen, and as the graph above indicates, the equity markets have respo…
October 30, 2007
Monetary Policy
Two coordination problems likely to arise inside Bretton woods 2
Last week, I argued that the emerging world’s governments have been provided the US with an enormous credit line – one large enough to prop the dollar up – even in the absence of any formal instituti…
April 6, 2009
Budget, Debt, and Deficits
Side-By-Side with the Depression
The current downturn is now sharper than most post-war recessions. Comparisons with the depression are rising, but there are important differences too. The policy response has been quicker this tim…
