Policy Response to the Plunge in Oil Prices
The plunge in oil prices will only stimulate global and national aggregate demand if it is passed through to consumers. […]
Economic Instability
Deindustrialisation and Development
While manufacturing played a key role in some countries’ development, high growth can be sustained without relying primarily on manufacturing. […]
That Absurd Fear of Stagnation
Seven years after the outbreak of the financial crisis, bad policies, deficient institutional arrangements, and the mistakes of the past are still tying some of the world’s largest economies down. […]
The Global Economy and China: The View From a Mountain Top
China’s very high rates of saving and investment in infrastructure, plants and equipment, research and development, and human capital should be seen more as a source of strength than of weakness. […]
The End of Convergence?
Convergence, the narrowing of the income gap between poor and rich countries, is one of the great stories of our time. A recent report shows that convergence has slowed in recent years, and that productivity in developing countries is not rising rapidly enough in key sectors. […]
TTIP and Third Countries: Multilateralization or Balkanization?
The Transatlantic Trade and Investment Partnership initiative is a grand plan for revitalizing economic growth and enhancing international competitiveness. While Brussels and Washington work to reach a deal, large numbers of interested third countries—even major EU and U.S. trade partners—are left out. […]
Brazil’s Economic Future
The prospects for Brazil’s economy will depend on the vigor with which the next government will pursue policies that remedy the problems that have so far held it back. […]
The Decline of the Bretton Woods Institutions
The IMF, the World Bank, and the World Trade Organization are now in rapid and unmistakable decline, which can only be reversed by a major shift in approach by their political masters. […]
An Inconvenient Book
Thomas Piketty’s latest book is a masterpiece of historical and economic analysis, a book that, in ambition and originality, aspires to become an instant economic classic. […]
Emerging Markets Will Not Sink the World Economy
The difficulties of emerging nations are unlikely to become so severe as to endanger the global recovery. […]