Blogs&Reviews

  • Eduardo Levy Yeyati argues that a countercyclical liquidity fund could complete the financial architecture not only by providing much needed lending of last resort during systemic crises, but also as a way to attract less unstable private capital to emerging economies.

  • Landmark court decision limits presidential trade restrictions

    Steve Charnovitz, Gary Hufbauer, 28 July 2020

    The U.S. Court of International Trade’s landmark decision voiding President Trump's tariffs on steel from Turkey opens the door to future challenges of US trade actions based on equal protection grounds

  • A Hamiltonian glimpse in Europe

    Thorsten Beck, 27 July 2020

    Thorsten Beck believes that while the compromise reached on the European recovery support will not be enough to overcome the COVID-19 challenges in the EU, it is an important first step.

  • Joshua Meltzer argues that the Trump administration has failed to provide a coherent vision for maintaining and expanding US competitiveness in the 21st century, including through its trade policy.

Other Recent Blogs&Reviews:

  • Jason Furman, Wilson Powell, 08 June 2018

    The fraction of Americans employed fell between 2007 and 2017, during which time employment rates rose in many other advanced economies despite these countries also facing a similar headwind of an ageing population. In this post, Jason Furman and Wilson Powell show how the biggest driver of this was employment among women, which stagnated in the US while increasing in most of the other advanced economies.

  • Simon Wren-Lewis, 07 June 2018

    Brexiters have come up with various reasons for not staying in the Customs Union. In this post, Simon Wren-Lewis argues that none of these reasons stands up to scrutiny. He also argues that Prime Minister Theresa May should have realised right away that the Brexit people voted for – taking back control and being at least no worse off in economic terms at the same time – was an impossible project, and that this realisation should have governed how she approached Brexit from the start. 

  • Roger Farmer, 07 June 2018

    That idea that, in the immortal words of Gordon Gekko, “greed is good” is encapsulated in the first welfare theorem of economics which explains why markets, most of the time, work well. Selfish behaviour by people seeking to improve their own lives will, inevitably, improve the lives of everyone else on the planet.  In this post, Roger Farmer asks why that idea doesn’t apply also to the financial markets.

  • Pascal Lamy, 06 June 2018

    Although recent developments have challenged the established liberal consensus on globalisation, in this post Pascal Lamy argues that this process is set to continue due to the technological forces underpinning its evolution. While there is rising political opposition in light of increased inequality, undoing the current levels of economic integration will not be easy and strictly national solutions will be insufficient. In this context, Europe needs to unite around its social market model and project its values more strongly in the world.

  • Ben Clift, 05 June 2018

    Debate on euro area reform has been split between two camps: those who saw the euro area crisis as a consequence of moral hazard, and those who saw the threat of contagion effects through vulnerable financial markets. In this post, Ben Clift details how ECB Governor Mario Draghi’s recent speech proposing a full realisation of the banking union, with risk sharing and public backstops to prevent ‘bad equilibrium’, signals that the ECB’s vision for euro area reform has finally shifted to the latter, in line with the IMF’s vision for euro area architecture reform. 

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