Today we are pleased to present a guest contribution written by Roland Beck, Virginia di Nino and Livio Stracca (all at the European Central Bank). The views expressed belong to the authors and are not necessarily shared by the institutions to which the authors are affiliated.
Category Archives: international
Guest Contribution: “How Tariffs Affect China’s Exports”
Today, we’re fortunate to have Willem Thorbecke, Senior Fellow at Japan’s Research Institute of Economy, Trade and Industry (RIETI) as a guest contributor. The views expressed represent those of the author himself, and do not necessarily represent those of RIETI, or any other institutions the author is affiliated with.
Steel Tariffs and Iron/Steel Prices
The Section 232 tariffs on steel and aluminum were a bad idea during the Trump administration. They’re still a bad idea.
Guest Contribution: “What Three Economists Taught Us About Currency Arrangements”
Today, we present a guest post written by Jeffrey Frankel, Harpel Professor at Harvard’s Kennedy School of Government, and formerly a member of the White House Council of Economic Advisers. A shorter version appeared at Project Syndicate.
“The Fed and the International Financial System”
Today, students in my Master’s level Public Affairs course in macroeconomics had the good fortune to receive a guest lecture from Steven Kamin, resident scholar at AEI, formerly Director of the International Finance Division of the Federal Reserve Board (sponsored by UW’s International Division). In his lecture, he covered the centrality of the dollar in the global financial system, monetary “spillovers” of Fed policy to other economies with special reference to the pandemic response, the macro challenges posed by the most recent fiscal relief package, and implications for emerging market economies. The entire lecture is here.
Visualizing the Suez Canal Blockage
From marinetraffic.com (accessed 3/26/21, 8:16pm Central):
Some additional details: S&P Global/Platts, WSJ, NikkeiAsia.
Macroeconomic Competitiveness
Competitiveness is often appealed to in popular discourse, but seldom defined. In macroeconomics, competitiveness is usually interpreted as cost competitiveness. Chinn and Johnston (JPAM, 1994) discuss the topic at length. Here is the OECD’s measure of cost competitiveness since 1999, along with the Fed’s CPI deflated measure of the dollar against a broad basket of currencies.
“Is a Dollar Crash Coming?”
That’s the title of a symposium in The International Economy, with Anders Åslund, Scott K.H. Bessent, Lorenzo Bini Smaghi, Jill Carlson, Stephen G. Cecchetti, Menzie D. Chinn, Lorenzo Codogno, Tim Congdon, Marek Dabrowski, Mohamed A. El-Erian, Heiner Flassbeck, Takeshi Fujimaki, Joseph E. Gagnon, James K. Galbraith, James E. Glassman, Michael Hüther, Richard Jerram, Gary N. Kleiman, Anne O. Krueger, Mickey D. Levy, Thomas Mayer, Jim O’Neill, Adam S. Posen, Holger Schmieding, Derek Scissors, Mark Sobel, Makoto Utsumi, and Chen Zhao.
Guest Contribution: “The Impact of COVID-19 on Emerging Financial Markets”
Today, we are pleased to present a guest contribution by Steven Kamin (AEI), formerly Director of the Division of International Finance at the Federal Reserve Board. The views presented represent those of the authors, and not necessarily those of the institutions the authors are affiliated with.
The Strong Dollar Debate, Yet Again
(Somewhat repetitive of a 2007 post…)