Author Archives: Menzie Chinn

US-centered vs. China (or “them”)-centered Worldviews on Global Imbalances

Chinese foreign exchange reserves and current account surpluses are (still) rising. Why and how important is this phenomenon?

(Revised) Employment growth is up, but (revised) employment is down.

Little sign of the reversal in the trade deficit.

Even if the new Medicare prescription drug plan’s implementation improves, that’s just the beginning of our problems.

Does the cross-border fragmentation of production mean that measured trade flows are irrelevant?

How good is the news, really?

For some people, the answer to every problem is a tax cut

Government interest payments are on their way up. Payments to non-residents are going up even faster.

The information content of the establishment vs. household-based employment series vs. hours worked.

How well are workers doing?