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Russia’s accession reinforces WTO
David Collins Last year’s Occupy movement has influenced public opinion of the World Trade Organisation (WTO) for the worse, but as Russia’s imminent accession shows, the WTO remains a firm force for...
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The Fed’s 2% inflation target trap
Thomas Palley The Federal Reserve has now openly adopted a two percent inflation target, with both Chairman Bernanke and the Federal Open Market Committee publicly committing to holding inflation at...
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The Fed should buy stocks instead of bonds
Heleen Mees Last week both the ECB’s governing council and the Fed’s rate setting committee FOMC convened. Since the problems in the eurozone are of a different nature than those in the United States,...
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Is the euro the 21st century gold standard?
By A. Edward Gottesman It’s only money, for heaven’s sake! The euro is a great convenience for trade and travel, and it is a powerful symbol of unified purpose for countries that have been at each...
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Let’s not get ‘carried away’ by Bernanke’s latest twist
By Kevin P. Gallagher Ben Bernanke, chairman of the US Federal Reserve, should be applauded for boldly putting employment over price stability in his latest move to keep interest rates low and to...
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Global economic recovery hits the ropes
By Eswar Prasad and Karim Foda The global economic recovery is on the ropes, battered by political conflicts within and across countries, lack of decisive policy actions, and governments’ inability to...
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Synthesising views on west’s poor growth
By Heleen Mees There is a fierce debate over the origins of the disappointing economic growth seen in advanced economies. On one side there is former world chess champion and political activist Garry...
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The financial crisis: of Keppra and convulsion
The collpse of Lehman was similiar to a stroke causing neuronal hubs to die. Getty Images By James Park With the start of QE3 and indefinite bond buying by the Fed, the financial crisis continues to...
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Trillion dollar deficits are sustainable for now – unfortunately
Latest US spending programme could tip country into a recession. Getty Images By John H. Makin and Daniel Hanson An abrupt spending sequester at a rate of about $110bn per year ($1.1tn over 10 years)...
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Go Fitch, go
By Heleen Mees The fourth largest bank in the Netherlands, SNS Reaal NV, finds itself in trouble. The banking and insurance group, with €134bn worth of assets on its balance sheet as of the end of June...
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Shares for rights – why entrepreneurial firms need employment law too
By Professor Simon Deakin Under the government’s current proposals for employment law reform, employees will be able to give up rights concerning unfair dismissal, redundancy pay, flexible working and...
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Time for mutual funds to favour shareholders
By Dr Miles Livingston The legendary John Bogle, founder and former chief executive of The Vanguard Group, recently met with the US Securities and Exchange Commission to urge it to propose a rule that...
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America’s higher education faces economic hurdles
By Catharine B. Hill The recession continues to create challenges for higher education in the US. Appropriate responses depend on expectations for the economy in the future, and whether the shocks we...
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How could Africa use China to spur economic development?
By Mthuli Ncube and Michael Fairbanks Which is more probable: Africa becomes a virtual international province of China, the main source of its sub-soil assets, and the major component of China’s...
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Interest rates should take blame for recession
By Heleen Mees With anger directed towards bankers and rating agencies alike, this may be a good time to remember that low interest rates, rather than faulty mortgage products, are the root cause of...
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Don’t trade away financial stability in Trans-Pacific Partnership
By Kevin P. Gallagher Negotiators will meet in Singapore this week for yet another round of talks on a Trans-Pacific Partnership – it is the 16th time in just a few years. A TPP would bring together...
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European Court’s Pringle judgment: good law, bad economics
European court ruled that stability mechanism was not contrary to EU law. Image by Getty By Professor Simon Deakin Courts don’t often try to decide the direction of economic policy. However, in effect,...
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A new approach to corporate taxation
By Michael Pomerleano Paradigms accepted as self-evident truths occasionally need to be re-examined. Corporate taxation is one of them. While governments are looking more and more for fiscal resources...
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GDP-linked bonds: a solution for Cyprus
By Lenos Trigeorgis EU politicians have been locked in myopic and often self-defeating policies regarding bailout of troubled eurozone countries. They have insisted, in principle correctly, that...
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Global economic recovery stuck below takeoff speed
By Eswar Prasad and Karim Foda The global economic recovery remains stuck below takeoff speed, unable to achieve liftoff and facing the risk of stalling. Half-hearted fiscal austerity measures are...
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