Category Archives: Obama Administration

Fiscal Education for the G-7

As the G-7 Leaders gather in Ise-Shima, Japan, on May 26-27, the still fragile global economy is on their minds.  They would like a road map to address stagnant growth. Their approach should be to talk less about currency wars … Continue reading

Posted in 2008 presidential election, 2012 presidential election, Africa and commodities, Asia, Budget, China, Climate Change, Commodities, Conservatives and Liberals, Dollar, Economic Development, economics, Emerging markets, Euro, Europe, Exchange Rates, Financial Crisis, Financial Regulation, Fiscal Stimulus, Gas Prices, Inflation, International Cooperation, International Monetary Fund, International Trade, Investing, Iraq, Japan, Labor Market, Laffer Curve, Latin America, Monetary Policy, Nobel Prize, Obama Administration, Oil, Poverty | Tagged , , , | Leave a comment

Talk on trade: TPP & Trump

The ITC Wednesday released its mandated report on the economic effects estimated to result from the TransPacific Partnership.  As is usual in standard trade models, the estimated welfare gains may sound small: on the order of ¼ % of income.  But … Continue reading

Posted in Budget, Bush business cycle, Change, Congress, Copenhagen, Crisis debt, Deficit, ECB emission, Employment, Euro, Europe, Exchange Rates, Expansion, Fed, Feldstein, Fiscal, Forecast, G20, GDP, George W. Bush, Gold, Greece, Growth, Jobs, Kyoto, NBER, Obama Administration, Oil, Reagan, Recession, Recovery, Renminbi, Tax, TPP, Yuan | Leave a comment

The Domestic Threat to US Leadership

US President Barack Obama has racked up a series of foreign-policy triumphs over the last 12 months. But one that has gained less attention than others was the passage last December of legislation to reform the International Monetary Fund, after … Continue reading

Posted in 2016 Presidential Campaign, Europe, IMF Reform, International Monetary Fund, Obama Administration | Leave a comment

TPP Critics’ Nighttime Fears Fade by Light of Day

The TPP (Trans Pacific Partnership) that was finally agreed among trade negotiators of 12 Pacific countries on October 5 came as a triumph over long odds.  Tremendous political obstacles, domestic and international, had to be overcome over the last five … Continue reading

Posted in Asia, Conservatives and Liberals, Environment, International Trade, Obama Administration, Trade | Tagged , , , , , , | Leave a comment

Answering the TPA Critics Head-On

In recent op-eds and blog-posts I have argued that prospective trade agreements like the TPP (the Trans Pacific Partnership) would be economically beneficial for reasons similar to past trade agreements and that they would have geopolitical benefits too. I have also opposed adding currency manipulation to … Continue reading

Posted in International Trade, Monetary Policy, Obama Administration | Leave a comment

The Top Ten Reasons Why Trade Agreements Should Not Cover Currency Manipulation

President Obama is still pressing the difficult campaign to obtain Trade Promotion Authority and use it to conclude international negotiations — across one ocean for the Trans Pacific Partnership (TPP), and then across the other ocean for the Transatlantic Trade … Continue reading

Posted in China, Dollar, Euro, Europe, Exchange Rates, Fiscal Stimulus, International Cooperation, International Monetary Fund, International Trade, Japan, Monetary Policy, Obama Administration | Leave a comment

The Fiscal Stimulus and Market Turnaround: 5-Year Anniversary

Commentators are taking note of the five-year anniversary of the fiscal stimulus that President Obama enacted during his first month in office.   Those who don’t like Obama are still asking “if the  fiscal stimulus was so great, why didn’t it … Continue reading

Posted in Financial Crisis, Fiscal Stimulus, Investing, Labor Market, Obama Administration, Recession | Tagged , , , , , , | 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

IMF Reform and Isolationism in Congress

A long-awaited reform of the International Monetary Fund has now been carelessly blocked by the US Congress.   This decision is just the latest in a series of self-inflicted blows since the turn of the century that have needlessly undermined the … Continue reading

Posted in Asia, China, Emerging markets, Europe, International Cooperation, International Monetary Fund, International Trade, Japan, Obama Administration | Tagged , , , , , , , , | Leave a comment

Will Financial Markets Crash Before October 17, or After?

October 4 is the first Friday of the month, the day when the Bureau of Labor Statistics routinely reports the jobs numbers for the preceding month.   Is the havoc created by our current political deadlock over fiscal policy showing up as … Continue reading

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