Search / 14 posts tagged global imbalances

There was an interesting issue raised in the economics blogosphere last week: the end of American hegemony. Nouriel Roubini started it off with his posting "The Decline of the American Empire" where--in addition to the much ballyhooed argument that U.S.

Mark Gertler recently asserted the United States should "not act rashly over inflation" fears. He argued that the recent jump in U.S. inflation is the result of relative price changes in food, energy, and other commodities and not the consequence of policy-induced aggregate demand pressures.

Brad Sester had an interesting post that looks at how U.S. economic imbalances have been affected by the subprime crisis. First, he notes what typically happens to countries running huge current account deficits like the United States when hit with a economic crisis like the subprime one:Emerging

Could This Be The Tipping Point? Amidst the headline news of failing financial institutions and stagflationary conditions in the United States, there has been one U.S. story that so far has been good news: central banks in Asia and oil-exporting countries continue to support the financing needs of the United States.

The 15th World Congress of the International Economic Association (IEA) kicked off a five day convention yesterday, June 25th, entitled "The Challenge of Globalization." Guillermo Calvo, President of the IEA, welcomed the participants by placing emphasis on the importance of the congress: "The IEA

The Long Journey Ahead Wolfgang Munchau tells us that the unwinding of global economic imbalances may take many years.Global Adjustment Will be Long and Painful ...It is no accident that our multiple crises – property, credit, banking, food and commodities – have been happening at the same time.

Thank you Casey Serin. Thank you mortgage brokers. Thank you realtors. Thank you investment bankers. Thank you Alan Greenspan and Ben Bernanke. Thank you ethanol farmers. Thank you George Bush. Thank you General Motors. Thank you Chinese communist party leaders. And thank you American consumers and Wal-Mart shoppers.

To go from Casey Serin buying up homes in California he couldn't pay for with liar's loans, to food riots in Haiti and rice shortages in Asia, who'd have thunk. But like six degrees of Kevin Bacon, you can get from A (housing bubble) to F (food riots) pretty quick if you work it through.

~ would be good to know him. “Global Imbalances: Time for Action” ( with Alan Ahearne, William Cline, Jean Pisani-Ferry, Kyung Tae Lee, and John Williamson), Peterson Institute for International Economics, Washington DC February 2007 =>