What Does the U.S. Election Mean for the World Economy?
The U.S. election, whatever the outcome, will not eliminate the need for both parties to compromise in order to make meaningful headway on the tough economic challenges facing the country. […]
Articles
In Search of the Global Middle Class: A New Index
The number of passenger cars in circulation can act as a direct measure of the middle class in developing countries. […]
Club Med and the Sunbelt: Adjustment within Monetary Union
Differences between the U.S. and eurozone monetary unions go a long way towards accounting for how well or badly each has adjusted in the aftermath of large housing bubbles and severe financial crisis. […]
Obama’s Stake in Brussels
Propping up the euro through contentious fiscal and banking arrangements, all without adequate guarantees from countries on Europe’s periphery, may not produce the long-term stability that is in the interest of both sides of the Atlantic. […]
The Euro-Exit Taboo
Europe’s periphery is finding itself at a crossroads similar to the one Argentina and Latvia faced in the last decade. But a decision to exit or stay in the eurozone will have much more far-reaching consequences. […]
The Competitiveness Crisis
While the commotion over bond spreads is justified, it diverts attention from the main arena where the survival of the euro will ultimately be decided: the realignment of Europe’s peripheral economies toward exports and import substitutes. […]
Europe in the Eye of the Storm
Coordinated policy and plain luck have propped up the eurozone, but have not decisively addressed the root cause of the euro crisis: diminished competitiveness in the periphery. […]
Is the End of the Crisis in Sight?
As Italian and Spanish spreads on government bonds decline, Europeans are breathing a big sigh of relief. But true recovery requires big structural shifts that will take many years. […]
China’s Rise and Latin America: A Global, Long-Term Perspective
China is becoming an increasingly significant economic partner for Latin America. But its rise is part of a broader, long-term shift towards a world in which emerging markets have greater economic weight. […]
How Italy Will Change
Europe needs to help, but even with help, Italy faces big changes and, assuming all goes well, two or three difficult years lie ahead. […]