Congressman John Lewis should spend more time on fixing and helping his district, which is in horrible shape and falling apart (not to mention crime infested).
As usual, data and Mr. Trump are distant strangers.
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Why Trumpist Rejection of Trade Openness Is Regressive
From Furman, Russ and Shambaugh:
[t]ariffs are imposed in a regressive manner – in part because expenditures on traded goods are a higher share of income and non-housing consumption among lower income households, but also due to explicit regressivity within categories.
What Explains the Trump Dollar?
Elevated real interest rates and policy uncertainty explain a dollar about 4% higher than election day.
Don’t Let Your Students Do This!
Chinese Forex Reserves Continue Declining
Hard to argue the PBoC is manipulating the yuan to keep it weak, especially as capital controls are being tightened. But who listens to facts any more?
The Current Account In Previous Tax Cut/Spend Regimes
We have had previous experience with episodes of tax cuts unmatched by spending reductions, in terms of the impact on external balances. Below I plot the evolution of the Reagan twin deficits, and the evolution of the G.W. Bush twin deficits.
Guest Contribution: “The Impact of Real Exchange Rate Shocks on Manufacturing Workers: An Autopsy from the MORG”
Today we are pleased to present a guest contribution written by Douglas L. Campbell (New Economic School, Moscow) and Lester Lusher (UC Davis).
Two Trade Policy Terms to Remember: VER and ERP
Voluntary Export Restraint (VER)
With Robert Lighthizer going to USTR, it’s useful to remember that he was “implementer” of many VER’s, or “Voluntary Export Restraints” on steel imports, during his last stint at USTR during the Reagan Administration.
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Guest Contribution: “China’s Growing Influence on Asian Financial Markets”
Today we are pleased to present a guest contribution written by Serkan Arslanalp, senior economist at the IMF. This post is based on the paper by the same title, coauthored with Wei Liao, Shi Piao, and Dulani Seneviratne (all of the IMF).
Artemisia: An Opera of Passion, Betrayal and Art
Music composed by Laura Schwendinger, libretto by Ginger Strand.