Category Archives: Conservatives and Liberals

New and Improved Trade Agreements?

WASHINGTON, DC – Trade is high on the agenda in the United States, Europe, and much of Asia this year. In the US, where concern has been heightened by weak recent trade numbers, President Barack Obama is pushing for Congress … Continue reading

Posted in Analysis, Budget, Conservatives and Liberals, Dollar, Economic Development, economics, Emerging markets, Exchange Rates, Financial Crisis, Financial Regulation, Fiscal Stimulus, Investing, Recession | Leave a comment

Give Obama Trade Promotion Authority

Trade is now high on the agenda in Washington. President Obama is pushing hard for Congress to give him Trade Promotion Authority (TPA), once known as fast-track authority.  He intends to use it to complete negotiations with 11 trading partners under the … Continue reading

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Asia Games: Not Zero-Sum

Two hostesses are rivals in a popularity contest throughout the social season.  When they hold soirees on the same night invitees must choose which one to go to.  The hostesses guard their social ranking jealously, and may even punish a … Continue reading

Posted in Analysis, Budget, Commodities, Conservatives and Liberals, Dollar, economics, Emerging markets | Leave a comment

Does the Dollar Need Another Plaza?

We are at the 30th anniversary of the 1985 Plaza Accord.  It was the most dramatic intervention in the foreign exchange market since Nixon originally floated the US currency.   At the end of February 1985 the dollar reached dizzying heights, which … Continue reading

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Will Fed Tightening Choke Emerging Markets?

CAMBRIDGE – As the Federal Reserve moves closer to initiating one of the most long-awaited and widely predicted periods of rising short-term interest rates in the United States, many are asking how emerging markets will be affected. Indeed, the question … Continue reading

Posted in Analysis, Budget, Conservatives and Liberals, Dollar, Economic Development, economics, Emerging markets, Exchange Rates, Recession | Leave a comment

The End of Republican Obstruction

CAMBRIDGE – What a difference two months make. When the Republican Party scored strong gains in last November’s US congressional elections, the universally accepted explanation was that voters were expressing their frustration with disappointing economic performance. Indeed, when Americans went … Continue reading

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8 Policy Recommendations for Newly Elected Members of Congress

On December 3, 2014, I participated in a panel of Harvard University’s Bipartisan  Program  for  Newly Elected Members of Congress.   After establishing that the median US household has not shared in recent strong economic gains, I went on to consider policy remedies. I … Continue reading

Posted in Commodities, Conservatives and Liberals, Dollar, Economic Development, economics, Emerging markets | Leave a comment

A Pre-Lima Scorecard for Evaluating Who is Doing their Fair Share in Pledged Carbon Cuts

Those worried about the future of the earth’s climate are hoping that this year’s climate change convention in Lima, Peru, December 2014, will yield progress toward specific national commitments, looking ahead to an international agreement at the make-or-break Paris meeting … Continue reading

Posted in Africa and commodities, Analysis, Budget, Conservatives and Liberals, Dollar, Economic Development, economics, Emerging markets | Leave a comment

What Do Obamacare and the EITC Have in Common with Cap-and-Trade?

My preceding blog post described how market-oriented mechanisms to address environmentally damaging emissions, particularly the cap-and-trade system for SO2 in the United States, have recently been overtaken by less efficient regulatory approaches such as renewables mandates.   One reason is that Republicans — who … Continue reading

Posted in Climate Change, Conservatives and Liberals, Environment, Obama Administration, Poverty | Tagged , , , , | Leave a comment

Nominal GDP Targeting is Left, Right?

The recent surge in interest in Nominal GDP Targeting, as an alternative to money targeting or inflation targeting if the central bank is to commit to a nominal target of some sort, has prompted some pushback.   This is not surprising.  … Continue reading

Posted in Conservatives and Liberals, Monetary Policy, Nobel Prize | Tagged , , | 1 Comment