I was wondering why the Reuters website wasn’t loading on my computer. Then I got a phone call from a reporter asking about the US stock market meltdown in response to Greece…which struck me as an odd linkage. It still strikes me as an odd linkage.
How much damage does the market think the oil spill has done?
Econbrowser is pleased to host this guest contribution from UCSD Ph.D. candidate Ben Fissel, who shares a quick estimate of the economic damage from the Gulf oil spill.
The sluggish recovery
This week we received more evidence confirming that the U.S. economy has returned to positive, but still disappointing, growth.
“Reminbising China’s Assets”
From a paper written by Yin-Wong Cheung (UCSC), Guonan Ma (BIS), and Robert McCauley (BIS):
…Recent policies adopted by the Chinese authorities
can be interpreted as allowing the rest of the world to denominate debt in renminbi. But if trading
partners consider that the renminbi is subject to big jump risk, then prospects for its
internationalisation are weak. …
Where would we be without offshore oil?
As oil continues to pour into the Gulf of Mexico, I thought it might be helpful to review how we got where we are today.
The recession is over
That’s the big take-away from today’s report from the Bureau of Economic Analysis that the seasonally adjusted real value of the nation’s production of goods and services grew at a 3.2% annual rate during the first quarter of 2010. But the details behind today’s report suggest that the recovery so far remains pretty weak by historical standards.
What Are the Externalities of “Drill, Baby, Drill”?
From NYT, “Size of Spill in Gulf of Mexico Is Larger Than Thought”, the extent of the spill in the Gulf of Mexico:
Employment Bounceback?
Dobridge, Hooper and Slok in “Jobless Recovery III Seems Unlikely” Global Economic Perspectives (April 21, 2010) [not online]:
The sluggish performance of payroll employment and
jobless claims in recent months despite well-above-trend
growth in output has raised the specter of another jobless
recovery. …
Why Adam ate the apple
In my last post, I discussed how the run-up of U.S. mortgage debt during the last decade was funded. One important element was the sale of commercial paper that helped fund the purchase of some mortgage-related securities. Here I comment on why it was hard for some institutions to resist buying that commercial paper.
China and Latin America: Re-evaluating Macro Linkages
Last week, I attended a conference organized by Eduardo Fernandez-Arias and Alessandro Rebucci at the Inter-American Development Bank. One of the panels focused on the impact of China on Latin America’s economy.