As the developed economies struggle to revive growth and create jobs, the debate about currency wars has come to forefront, with generalised quantitative easing, an EU Tobin tax, and confusing comments from G7 official regarding the effects of Abenomics on the yen.
Brazil: Did inward capital controls work?
Márcio Garcia, 1 March 2013
Capital controls: Gates versus walls
Michael W Klein, 17 January 2013
Capital controls are no longer considered rogue policies.
Monetary policy in Latin America: Where are we going?
Christian Daude, 10 December 2012
Inflation targeting has served countries in Latin America well . They have achieved macroeconomic stability by reducing inflation and the pass-through of external shocks such as oil price and exchange rate fluctuations (cf. Mishkin and Schmidt-Hebbel 2007).
How effective were the 2008-2011 capital controls in Brazil?
Yothin Jinjarak, Ilan Noy, Huanhuan Zheng, 22 November 2012
Controls on capital inflows have seen a renaissance since the beginning of the global financial crisis in 2008 (Williamson, Jeanne, and Subramanian 2012) and many countries, including Thailand, South Korea, Peru, Indonesia, Brazil and Iceland, have imposed controls.
International rules for capital controls
John Williamson, Olivier Jeanne, Arvind Subramanian, 11 June 2012
Although economists generally agree that countries can derive substantial gains from international economic integration, the extent to which they should open themselves to international capital flows remains a controversial issue. There is still, 20 years after the rise of emerging markets finance, a wide diversity of approaches to capital account policies.
Trade and inequality: From theory to estimation
Oleg Itskhoki, Marc Muendler, Stephen Redding, Elhanan Helpman, 20 May 2012
Until recently, research on the labour market effects of international trade has been heavily influenced by traditional theories such as the Heckscher-Ohlin and Specific Factors models. Those theories provide predictions about relative wages across skill groups or across occupations and sectors.
Adjustment patterns to commodity terms-of-trade shocks: The role of exchange rate and international reserves policies
Joshua Aizenman, Daniel Riera-Crichton, Sebastian Edwards, 14 January 2012
In many countries – Brazil being a prime example – terms-of-trade improvements have been accompanied by a surge in capital inflows.
Emerging partners create policy space for Africa
Helmut Reisen, Jean-Philippe Stijns, 12 July 2011
Western politicians have watched the increased presence of emerging countries in Africa with much suspicion. Insinuations run from emerging countries – above all China – bringing down governance standards in Africa to them re-indebting, de-industrialising, and cornering African countries into the production of commodities while only enriching the elites.
What to do about Doha
Anne Krueger, 28 April 2011
In an ideal world, the Doha Round would have been completed by now.
Since it has not been, the best outcome now would be to have a strong agreement that could quickly be negotiated, especially enhancing the agreements on the liberalisation of services and agriculture.
Doha Round: Or else what?
Philip Levy, 28 April 2011
The state of the current round of global trade talks is indisputably dire. It is never a good sign when analysts are quibbling over whether Doha is dead or simply comatose. Despite plaintive, increasingly desperate cries from Geneva, leaders of the G20 countries have shown little inclination to follow through on their repeated commitments to conclude the talks.
- Fiscal consolidation: At what speed?Blanchard, Leigh
- Public debt and economic growth, one more timePanizza, Presbitero
- Escaping liquidity traps: Lessons from the UK’s 1930s escapeCrafts
- The lessons of the North Atlantic crisis for economic theory and policyStiglitz
- Rethinking macroeconomic policyBlanchard
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Debt, deleveraging, and the liquidity trap: A new modelKrugman
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
Reichlin, Baldwin, 14 April 2013
Reichlin, Turner, Woodford
CEPR Policy Research
- The "Greatest" Carry Trade Ever? Understanding Eurozone Bank RisksAcharya, Steffen
- Political Credit Cycles: The Case of the Euro ZoneFernández-Villaverde, Garicano, Santos
- Winning by Losing: Incentive Incompatibility in Multiple QualifiersDagaev, Sonin
- Income and schoolingBrückner, Gradstein
- Monetary Policy and Rational Asset Price BubblesGalí
- How the EZ crisis is permanently changing EU institutionsMicossi
- WTO 2.0: Global governance of supply-chain tradeBaldwin
- Is US economic growth over? Faltering innovation confronts the six headwindsGordon
- The economic crisis: How to stimulate economies without increasing public debtWood
- Austerity: Too Much of a Good Thing?Corsetti