The weak performance of auto sales continues, with a new twist.
Economic indicators take a turn for the worse
No cheer for the New Year from the numbers released this week.
Do We Really Know that a Flexible Exchange Rate Regime Facilitates Current Account Adjustment?
In an post in VoxEU, Shang-Jin Wei alluded to work we have undertaken examining whether de facto exchange rate regimes have an impact on current account reversion.
Financial Globalization and the US Current Account Deficit
Matthew Higgins and Thomas Klitgaard at the Federal Reserve Bank of New York discuss the outlook for financing the deficit, going forward, in a new Current Issues. From the introduction:
The Dollar in the New Year
Is there (an “equlibrium” exchange rate) model for all seasons?
Home sales and prices continue to fall
2007 ended like it began, only worse.
More on China, Currency Misalignment and Data Revisions
In a previous post on China’s currency, I focused on the implications of the ADB’s report on the new ICP analysis of PPP-based GDPs for misalignment estimates for China. Now, it’s time to look a bit more closely at why the data revision occurred.
Christmas card
We wish a merry Christmas to all our readers and friends.
A Thought on the Sub-prime Debacle
Most of the NYT’s recent coverage of the subprime mess focused on Greenspan and the Federal Reserve System.
The bears must wait another quarter
Currently available data on consumer spending make it very unlikely that we’ll see negative real GDP growth for the fourth quarter.