Globalization, Labor Markets, and Inequality
Though globalization is increasing labor market integration and income inequality, policymakers should help workers adjust to a changing world rather than erecting protectionist measures. […]
Articles
Seek Outside Help
Though Europe can help itself economically by lowering interest rates and accelerating structural reforms, financial contributions from non-European countries through the IMF are needed most. […]
Happy New Year?
With the global economy on unstable ground and little economic space remaining for additional policy support, world leaders must focus on preventing a catastrophe in Europe. […]
The Long-Term Economic Outlook for the United States and its International Implications
The long run economic success of the United States will determine its ability to continue to provide economic and political leadership to the order it created in the aftermath of World War II. […]
Preparing for Eurogeddon
The United States must take urgent steps to help Europe resolve its debt crisis, while simultaneously preparing for the worst—the collapse of the both the euro and global financial system. […]
How the U.S. Will Pay for the Euro Crisis
The euro crisis has grown too big for Europeans to handle alone. The United States must act to help save the euro—or risk paying a much bigger price if it collapses. […]
The Turkey Has Landed
After the failure of the U.S. “supercommittee”—which may mark the beginning of a multi year impasse—it is far from clear that Washington lawmakers will be able to address the country’s fiscal problems before the markets turn. […]
The Greatest Poker Game in History
Based on the experience of Greece, Ireland, and dozens of other countries that have had to resort to IMF-style rescue programs, Italy is unlikely to avoid a protracted and deep recession. […]
Five Great Misconceptions About the Euro Crisis
Five misconceptions—all rooted in denial—are preventing policymakers from appreciating the gravity of the crisis in Europe, which represents the greatest threat to the global economy since the Lehman debacle. […]
Don’t Be Afraid of the Service Sector
The ability of the service sector to generate growth is widely underestimated. So long as country avoid taking protective measures and harness their competitive advantages, countries should welcome larger service sectors. […]