Video Vox

Gita Gopinath 19 May 2020

Together with her research colleagues, Gita Gopinath developed the Dominant Currency Paradigm. Unlike other standard economic models, it takes into account that prices in global trade are predominantly not set in either the producer’s or destination’s currency but are set in dollars. The economists found that when most transactions are dollar denominated, a currency depreciation is rather unlikely to increase exports. 

“When you’re in this world of dominant currency pricing, you don’t really see a big export boost that comes immediately after your currency weakens,” says Gopinath. 

At the same time, a currency depreciation relative to the dollar leads to an increase in the price of imported goods, which means high pressures on inflation.

Gita Gopinath 19 June 2020

As part of her work to foster sustainable growth, Gita Gopinath emphasises how countries need to ensure that all people can benefit from new growth opportunities. Taking action that boosts economic growth while at the same time improving inclusiveness is needed across all economies, according to Gopinath. “How do you continue to raise income levels and improve the livelihoods of people while at the same time not creating increased inequality? How do we get people who have otherwise not been big participants in the global economy to play a bigger role? All of this is important for sustainability.”

Alicia García-Herrero 17 June 2020

Even pre-Covid-19 there were signs of manufacturing FDI movement away from China.
Alicia Garcia-Herrero, recorded 21 May 2020 at CEPR / LSE IGA / SPP webinar on:
Recovering from COVID-19 – China and global value chains in the wake of the pandemic

Yiping Huang 17 June 2020

Although coronavirus infection rates have dropped considerably in China and businesses are starting to return to something resembling normality, there is still a high state of alert and outbreaks are treated with an immediate and firm response.
Huang Yiping, recorded 21 May 2020 at CEPR / LSE IGA / SPP webinar on:
Recovering from COVID-19 – China and global value chains in the wake of the pandemic

David Miles 09 June 2020

How many people have already been infected with Covid-19? Without randomised mass testing, current estimates vary enormously. Meanwhile, post-lockdown policy choices based on this data are literally a matter of life and death. David Miles of Imperial College tells Tim Phillips about how he estimated the asymptomatic rate of infection, and the surprising result he found.

Annie Tubadji 05 June 2020

We know the probability of dying from COVID-19 is higher in certain deprived groups. In a new paper in Covid Economics, Annie Tubadji argues that “unprecedented economic and cultural class cleansing is occurring throughout the world during the COVID-19 pandemic”. 

Dalia Marin 05 June 2020

Hyperglobalisation radically changed the global economy, but also meant that national economies became increasingly interdependent. So will Covid-19 start to unpick those connections? Dalia Marin of the Technical University of Munich thinks so.

Ricardo Reis 03 June 2020

Ricardo Reis, London School of Economics, talks to Tim Phillips. Swap lines between advanced economy central banks are a relatively recent and important part of the global financial architecture. How has their role been affected by Covid-19?

Lee Buchheit 21 May 2020

There are two phases needed in the response to help developing countries during the Covid-9 pandemic, the first is the need to get money into the hands of these countries, the second is the need for a more durable debt restructuring. Although China has joined with the other G20 countries in calling for a debt standstill, whether it will participate as a member of a coordinated form of that restructuring is an as-yet unresolved issue. Lee Buchheit (University of Edinburgh Law School) was speaking at CEPR / LSE IGA / SPP webinar on: Born Out of Necessity: A Debt Standstill for COVID-19, 7 May 2020.

Patrick Bolton 21 May 2020

Getting a debt relief organised without credit ratings downgrades is like making an omelette without breaking any eggs, says Patrick Bolton (Columbia Business School & CEPR). Even without a debt standstill, rating downgrades are to be expected, so they should not be a deciding factor in negotiations. Recorded during a CEPR / LSE IGA / SPP webinar on: Born Out of Necessity: A Debt Standstill for COVID-19, 7 May 2020



CEPR Policy Research