Found 70 article(s) for author 'Carmen Reinhart'

Pakistan Development Forum (Part 1 and 2)

Pakistan Development Forum (Part 1 and 2). Carmen Reinhart, October 21, 2019, Video, “Pakistan Development Forum is an annual conference that convenes key policy stakeholders, business leaders, and academic experts to discuss and debate the most pressing development and policy challenges facing Pakistan today.  The topic of discussion for this year’s conference was Unlocking Pakistan’s Growth: What can Macro Policy Achieve?Link
Part 1 –

Part 2 – Link

 

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Why does Jerome Powell have a haunted look?

Why does Jerome Powell have a haunted look? Carmen Reinhart, September 23, 2019, Opinion, “Once a year, the leadership of both the European Central Bank (ECB) and the United States Federal Reserve (Fed) go to the mountains for policy enlightenment. The ECB conducts a forum every June in Sintra, a town in the foothills of the eponymous Portuguese mountain range.  And the Fed convenes in late August in Jackson Hole, Wyoming, for the Kansas City branch’s economic symposium. In retrospect, this year’s….Link

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Jerome Powell’s Dilemma

Jerome Powell’s Dilemma. Carmen Reinhart, September 18, 2019, Opinion, “There is a reason that the US Federal Reserve chair often has a haunted look. Probably to his deep and never-to-be-expressed frustration, the Fed is setting monetary policy in a way that increases the likelihood that President Donald Trump will be reelected next year.Link

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China’s Overseas Lending

China’s Overseas Lending. Carmen Reinhart, July 2017, Paper, “Compared with China’s dominance in world trade, its expanding role in global finance is poorly documented and understood. Over the past decades, China has exported record amounts of capital to the rest of the world. Many of these financial flows are not reported to the IMF, the BIS or the World Bank. “Hidden debts” to China are especially significant for about three dozen developing countries, and distort the risk assessment in both policy surveillance and the market pricing of sovereign debt. We establish the size, destination, and characteristics of China’s overseas lending. We identify three key distinguishing features. First, almost all of China’s lending and investment abroad is official. As a result, the standard “push” and “pull” drivers of private cross-border flows do not play the same role in this case. Second, the documentation of China’s capital exports is (at best) opaque. China does not report on its official lending and there is no comprehensive standardized data on Chinese overseas debt stocks and flows. Third, the type of flows is tailored by recipient. Advanced and higher middle-income countries tend to receive portfolio debt flows, via sovereign bond purchases of the People’s Bank of China. Lower income developing economies mostly receive direct loans from China’s state-owned banks, often at market rates and backed by collateral such as oil. Our new dataset covers a total of 1,974 Chinese loans and 2,947 Chinese grants to 152 countries from 1949 to 2017. We find that about one half of China’s overseas loans to the developing world are “hidden”.Link

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Carmen Reinhart Discusses Global Economic Risks

Carmen Reinhart Discusses Global Economic Risks. Carmen Reinhart, June 28, 2019, Audio, “Carmen Reinhart, economist and the Minos A. Zombanakis Professor of the International Financial System at Harvard Kennedy School, discusses the panorama of risks facing the global economy. She speaks with Bloomberg Global Economics and Policy editor Kathleen Hayes on “Politics, Policy, Power and Law.”Link

 

 

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Explaining Inflation Inertia

Explaining Inflation Inertia. Carmen Reinhart, May 6, 2019, Opinion, “Despite central bankers’ concerted efforts, credible price-stability targets have proved elusive in countries like Argentina, where inflation is soaring, and Japan, which can’t shake the specter of deflation. What can governments do to influence inflation expectations when central banks’ policies prove insufficient to the task?Link

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Risky Retirement Business

Risky Retirement Business. Carmen Reinhart, February 26, 2019, Opinion, “Regardless of whether yields in advanced economies rise, fall, or stay the same, core demographic trends are unlikely to change in the coming years, implying that pension costs will continue to balloon. Is there an asset class that can provide yield-hungry pension-fund managers what they’re looking for?Link

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The Biggest Emerging Market Debt Problem Is in America

The Biggest Emerging Market Debt Problem Is in America. Carmen Reinhart, December 20, 2018, Opinion, “A decade after the subprime bubble burst, a new one seems to be taking its place in the market for corporate collateralized loan obligations. A world economy geared toward increasing the supply of financial assets has hooked market participants and policymakers alike into a global game of Whac-A-Mole.Link

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