Found 71 article(s) for author 'Jeffrey Frankel'

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

Tags: , ,

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

Tags: , ,

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

Tags: , ,

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

Tags: ,

[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

Tags: , ,

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

Tags: ,

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

Tags: , ,

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

Tags: , ,

Fischer, the Fed, and US Growth

Fischer, the Fed, and US Growth. Jeffrey Frankel, December 23, 2013, Opinion. “Now that Janet Yellen has been confirmed as Chair of the US Federal Reserve Board, attention has turned to her successor as Vice Chair. US President Barack Obama’s choice, Stanley Fischer, was the perfect candidate, given his unique combination of skills, qualities, and experience. During his academic career, Fischer was one of the most accomplished scholars of monetary economics. He then served as Chief Economist of the World Bank, First Deputy Managing Director at the International Monetary Fund…”  Link verified March 28, 2014

Tags: , ,

Exchange Rate and Monetary Policy for Kazakhstan in Light of Resource Exports

Exchange Rate and Monetary Policy for Kazakhstan in Light of Resource Exports. Jeffrey Frankel, December 19, 2013, Paper. “Kazakhstan, like other commodity-exporting and middle-income countries, is vulnerable to a variety of possible shocks that could hit in 2014 or beyond. One possibility is an adverse evolution of global financial conditions, originating in a rise in US interest rates or a switch from risk-on to risk-off attitudes of investors, which could lead to decreased availability of capital and higher interest rates in emerging markets. (The beginnings of such a possible movement seemed…” Link verified March 28, 2014

Tags: , ,