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Free exchange Trade R.A. | WASHINGTON Europe's rocky patch may claim other victims Images: UBS has a daily chart on emerging market exposure to the economy of the euro area: Countries on the periphery of the euro zone stand to lose the most. But merchandise exports to the euro area account for over 5% of [...]
Free exchange The Greek debt crisis Eswar Prasad Why the Greek debt crisis is a problem for the entire world economy Eswar Prasad is the Tolani Senior Professor of Trade Policy at Cornell University and a senior fellow at the Brookings Institution. THIS note briefly traces out the implications of the Greek debt crisis (and [...]
Free exchange China's currency R.A. | WASHINGTON Is flagging global growth China's problem? SO, WHAT should China do now that Europe’s debt crisis seems to be imperiling global growth? Eduardo Lora and Alessandro Rebucci, of the Inter-American development bank, write: Suffering from excessive capital inflows and exchange rate appreciation, several Latin American leaders have sided [...]
Free exchange Recommended economics writing R.A. | WASHINGTON The best of the rest of the economics web TODAY’S recommended economics writing: • How will Greece get off the dole? (New York Times) • Yes, Merkley-Levin is still a joke (Economics of Contempt) • Why Merkley-Levin is necessary (Rortybomb) • Why does regulation work (Paul Krugman) [...]
Free exchange Monetary policy R.A. | WASHINGTON How to account for bad policymaker decisions? SCOTT SUMNER quotes a Nick Rowe post on the status of orthodox economics: I think we are witnessing the biggest silent shift in macroeconomic thought since the Second World War. For 70 years we have taught, and believed, that we would [...]
Donald Marron and Phillip Swagel propose a reform of the housing GSEs.
Users of my favorite textbook know that it includes, in Chapter 7, a case study on whether kidneys should be traded in a market. Today’s NY Times has a related article. The paper’s so-called “Ethicist” is dealing with this situation: 1. Person A receives a kidney transplant as a donation from person B.2. A short time later, person B is [...]
Free exchange Africa R.A. | WASHINGTON African growth takes off Images: PAUL KEDROSKY always has the best charts. This weekend he posts the figure below, under the headline “What happened to Africa in 2003?”: This seems like a pretty question to answer. One word: China. Around the beginning of the last decade, rapid Chinese growth [...]
A friend sends along this story: Majority Of Government Doesn’t Trust Citizens Either WASHINGTON—At a time when widespread polling data suggests that a majority of the U.S. populace no longer trusts the federal government, a Pew Research Center report has found that the vast majority of the federal government doesn’t trust the U.S. populace all that [...]