From Arthur Kroeber, in China Economic Quarterly “Economic rebalancing —
Twin peaks: fiscal and financial reform” [not online]:
Author Archives: Menzie Chinn
Views on Rebalancing the Global economy
VoxEU has released a primer on rebalancing the global economy here, edited by Stijn Claessens, Simon J Evenett and Bernard Hoekman. For those interested in the political feasibility of rebalancing, Jeff Frieden holds forth on “The political economy of rebalancing”. The table of contents for the entire book is here.
OECD Factbook
The OECD Factbook is now online, and hooked up to all sorts of online datasets and interactive maps/graphs.
Some Ruminations on Trade Flows, Trade Costs and Trends
One of the persistently challenges I consistently face in trying to model US import and export flows is the sensitivity of the results to the inclusion of time trends. Time trends are bothersome because they are, in one sense, a measure of our ignorance. That’s a worry as we consider the feasibility of global rebalancing [0] [1] [2] [3].
Is Spain Next?
Today, we’re fortunate to have Mark Copelovitch, Assistant Professor of Political Science and Public Affairs at the University of Wisconsin, as a Guest Contributor.
First off, let me thank Menzie for the opportunity to “pinch hit” here at Econbrowser. It’s a pleasure to be here. I am Menzie’s colleague in the La Follette School of Public Affairs here at Wisconsin, and my primary area of expertise is the politics of international finance.
“Sarah Palin Says “Drill, Baby, Drill” Was Right”
From CBS News, an excerpt of a Palin twitter message:
“Extreme Greenies:see now why we push’drill,baby,drill’of known reserves&promising finds in safe onshore places like ANWR? Now do you get it?”
Global Imbalances and the Crisis
In today’s VoxEU, Kati Suominen asks “Did global imbalances cause the crisis?, and surveys the arguments. I recently wrote a survey on the same topic for the forthcoming Encyclopedia of Financial Globalization. Here’s my take:
Exchange Rate Angst and Rebalancing
As the euro has plummeted against the USD, there’s been concern that efforts to rebalance the global economy will face increasing headwinds. [Bergsten] [Duy]. This worry is only added to by the already widening US trade deficit [1]. In this post, I don’t want to dispute the difficulty of effecting global rebalancing. It was already a difficult task, even before the euro area’s recent debt-related travails. What I do want to do is to put the recent exchange rate movements in perspective. My three observations are as follows:
The Job Shortfall: Then and Now
In an interesting post a couple weeks ago, Keith Hennessey critiques the President’s recent speech about employment growth, and presents the following graph, to highlight the gap between where employment is and where it “should” be.
Macroeconometrics in the Mountains
I’m just back from a two day conference at the Norges Bank‘s conference center in the mountains north of Oslo (organized by Karsten Gerdrup, Christian Kascha, Francesco Ravazzolo and Dagfinn Rime). For me as an end-user of econometric methods, this was a great experience. I got to see some recent developments in applying time series methods to problems in macro and finance (and to see Norway for the first time). Here were some of the papers presented and discussed (I’ve omitted the papers that are not posted online).