Today we are fortunate to have a guest contribution by Jinzhao Chen (Paris School of Economics) and XingWang Qian (SUNY Buffalo State). This post is based on this paper.
Category Archives: international
IMF World Economic Outlook Update
From the IMF:
Global growth will receive a boost from lower oil prices, which reflect to an important extent higher supply. But this boost is projected to be more than offset by negative factors, including investment weakness as adjustment to diminished expectations about medium-term growth continues in many advanced and emerging market economies.
Switzerland drops its currency peg
The Swiss National Bank stunned markets on Thursday with an abrupt decision to abandon its commitment since 2011 to hold the Swiss franc at 1.20 francs/euro, as a result of which the franc appreciated almost 20% within the space of a few minutes.
The SNB Removes the Cap
Commenting on what has been termed “Francogeddon” and a “tsunami” as well as consequent mayhem, Joe Weisenthal at Bloomberg/Business Week writes:
“Today the Swiss National Bank shocked the world when it announced it would remove the cap it had in place to prevent the Swiss franc from rising too high against the euro.”
Global Economic Prospects on Fiscal Policy, Oil Prices, and the Trade Slowdown
Update: The World Bank’s forecasts are also now out, summarized here. Russia is forecasted to hurtle into a deep recession.
Two chapters from the World Bank’s Global Economic Prospects are out.
Guest Contribution: “Terms of Trade Shocks, Competitiveness and Stability: The Role of Foreign Asset Management”
Today we are fortunate to have a guest contribution written by Joshua Aizenman, Dockson Chair in Economics and International Relations. This post is based on a presentation at the Society for the Study of Emerging Markets Panel session, AEA meetings, Boston, January 3, 2015.
The Dollar’s Recent Rise in Perspective
Russia: Seems Like Old Times
As I watch the financial meltdown in Russia (and work on a chapter on financial crises), I am pervaded by a sense of déjà vu.
Guest Contribution: “Transparency and the Global Transmission of Financial Shocks”
Today we are fortunate to have a guest contribution written by Luis Brandão-Marques, Senior Economist, Gaston Gelos, Chief of the Global Financial Stability Analysis Division, and Natalia Melgar, Economist, all at the IMF. The views expressed herein are those of the authors and should not be attributed to the IMF, its Executive Board, or its management.
“Asia and Global Production Networks—Implications for Trade, Incomes and Economic Vulnerability”
That’s the title of a book edited by Benno Ferrarini (ADB) and David Hummels (Purdue).