Today we are fortunate to have a guest contribution by Helen Popper, professor of economics at Santa Clara University.
Category Archives: international
Guest Contribution: “Should Emerging Markets Fear A Fed Lift-Off?”
Today we are fortunate to have a guest contribution written by Carolina Osorio Buitron, Esteban Vesperoni, and Prakash Loungani, from the Research Department of the International Monetary Fund. The views expressed in this blog are solely those of the authors and do not necessarily represent the views of the IMF, its management, nor its Executive Board.
A Brief Note on Yuan Exchange Rate Pass-through to US Imports from China
In today’s WSJ, Justin Lahart notes “China Wind Chills U.S. Earnings”, and presents an interesting graph of import prices, which inspired me to look more closely at the issue.
Guest Contribution: ‘Only Tsipras Can “Go to China”’
Today we are fortunate to have a guest contribution written by Jeffrey Frankel, Harpel Professor of Capital Formation and Growth at Harvard University, and former Member of the Council of Economic Advisers, 1997-99. An earlier version was published in Project Syndicate.
“Spillovers of conventional and unconventional monetary policy: the role of real and financial linkages”
That’s the topic of a conference sponsored and hosted by the Swiss National Bank and co-sponsored with the Bank for International Settlements (BIS), the Dallas Fed, the Centre for Economic Policy Research (CEPR), and the Journal of International Money and Finance.
Guest Contribution: “What Europeans think about Europe in the aftermath of the crisis”
Today, we’re fortunate to have a guest contribution by Jeffry Frieden, Stanfield Professor of International Peace at Harvard University, and author of the newly published book Currency Politics: The Political Economy of Exchange Rate Policy (Princeton University Press, 2015). This post is based upon this paper.
Greece: Is Internal Devaluation Enough?
Even if Greek Prime Minister Tsipras is able to maneuver the new agreement through the parliament [0], it’s not clear to me that — even with the aid and reprofiling of debt — Greece will resume growth (see discussion O’Brien/Wonkblog). That’s true even though there has been noticeable adjustment in production costs in Greece.
Possible scenarios for Greece
It’s very clear that two things have to happen from here. First, Greece needs relief from its mountain of debt, and second, the country needs to find a way to become more competitive economically.
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Some Recent Research on Exchange Rates
Here is some interesting work I’ve seen recently in Paris and Cambridge, MA.
The International Aspects of the Employment Release
The headline number for nonfarm payroll employment was decent [1], and although there are worrisome aspects, I think the key take-away is the fact that manufacturing employment is slowing much more than overall. To the extent that manufactured goods proxies for tradables, I think caution is in order with respect to monetary tightening. And yet, I read headlines reporting that the “Fed is on track to raise rates…”[Sparshott/RTE WSJ].