Found 73 article(s) for author 'Jeffrey Frankel'

China is not yet number one

China is not yet number one. Jeffrey Frankel, May 9, 2014, Opinion. “Many claim that China will soon overtake the US. This column argues that this claim is based on a misuse of statistics. ICP price data is necessary to compare living standards, since a dollar’s worth of yuan buys more in China than a dollar buys in the US. But the fact that rice and clothes are cheap in rural China does not make the Chinese economy larger. What matters for size in the world economy is how much a yuan can buy on world markets. Using the correct prices, the US remains the world’s largest economic power by a substantial margin….Link

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Measure twice, cut once: China’s economy still lags the US

Measure twice, cut once: China’s economy still lags the US. Jeffrey Frankel, May 8, 2014, Opinion. “Headlines around the world last week trumpeted a watershed moment for the global economy. China is poised to pass the US as the world’s leading economic power this year. This is a startling development – or it would be if the claim were not essentially wrong. In fact, the United States remains the world’s largest national economy by a substantial margin…” Link

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China is Still Number Two

China is Still Number Two. Jeffrey Frankel, May 5, 2014, Opinion. “Headlines around the world this week trumpeted a watershed moment for the global economy. As the Financial Times put it, “China poised to pass US as world’s leading economic power this year.” This is a startling development – or it would be if the claim were not essentially wrong. In fact, the United States remains the world’s largest national economy by a substantial margin…” Link verified June 19, 2014

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The Oligarchy Fallacy

The Oligarchy Fallacy. Jeffrey Frankel, April 22, 2014, Opinion. “Income inequality has received a lot of attention lately, particularly in two arenas where it previously received little: American public debate and the International Monetary Fund. A major reason is concern in the United States that income inequality has returned to Gilded Age extremes; but inequality has increased in many other parts of the world as well, and remains high in Latin America…” Link

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Why the ECB Should Buy American

Why the ECB Should Buy American. Jeffrey Frankel, March 13, 2014, Opinion. “The European Central Bank needs to ease monetary policy further. Eurozone-wide inflation, at 0.8%, is below the target of “close to 2%,” and unemployment in most countries remains high. Under current conditions, it is hard for the periphery countries to reduce their costs to internationally competitive levels, as they need to do. If inflation in the eurozone as a whole is below 1%, the periphery countries are condemned to suffer painful deflation…” Link verified June 19, 2014

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Market Failure and Political Failure

Market Failure and Political Failure. Jeffrey Frankel, February 11, 2014, Opinion. “Markets can fail. But, as has been demonstrated in areas like air pollution, traffic congestion, spectrum allocation, and tobacco consumption, market mechanisms are often the best way for governments to address such failures. So why are such mechanisms now in retreat?…” Link

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[Jeffrey Frankel] Final nail in the coffin of U.S. global hegemony

[Jeffrey Frankel] Final nail in the coffin of U.S. global hegemony. Jeffrey Frankel, January 27, 2014, Opinion. “The U.S. Congress has now carelessly blocked a long-awaited reform of the International Monetary Fund. That would be bad enough if it were an isolated episode. But this is just the latest in a series of self-inflicted blows since the turn of the century that have needlessly undermined the United States’ claim to global leadership. The IMF reform would have been an important step in updating the allocations of quotas, which determine member states’ monetary contributions and voting power. The U.S. was not being asked to contribute…” Link verified March 28, 2014

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Absent America

Absent America. Jeffrey Frankel, January 24, 2014, Opinion. “The US Congress has now carelessly blocked a long-awaited reform of the International Monetary Fund. That would be bad enough if it were an isolated episode. But this is just the latest in a series of self-inflicted blows since the turn of the century that have needlessly undermined the United States’ claim to global leadership. The IMF reform would have been an important step in updating the allocations of quotas, which determine member states’ monetary contributions and voting power. The US was not being asked to contribute more money or lose its voting weight, which has…” Link verified March 28, 2014

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Effects of Speculation and Interest Rates in a “Carry Trade” Model of Commodity Prices.

Effects of Speculation and Interest Rates in a “Carry Trade” Model of Commodity Prices. Jeffrey Frankel, January 2014, Paper. “The paper presents and estimates a model of the prices of oil and other storable commodities, a model that can be characterized as reflecting the carry trade. It focuses on speculative factors, here defined as the trade-off between interest rates on the one hand and market participants’ expectations of future price changes on the other hand. It goes beyond past research by bringing to bear new data sources…Link verified June 19, 2014

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Is Trade Good or Bad for the Environment? Sorting Out the Causality

Is Trade Good or Bad for the Environment? Sorting Out the Causality. Jeffrey Frankel, 2014, Book or Book Chapter. “This volume brings together a selection of recent articles by leading scholars on the economics of international trade and the environment. The collection incorporates key papers published between 2000 and 2013 that investigate the major themes in the field including the effects of globalization on environmental outcomes, the effects of environmental policy on international competitiveness, evidence on the pollution haven hypothesis, effects of trade on the sustainability of renewable resources…” May require purchase or user account. Link verified June 19, 2014

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