On August 11, China devalued its currency by 2 percent and modestly reformed its exchange-rate system. This was no earth-shattering event, but financial markets responded as if a meteorite had struck ...More
EJ Insight2015-09-14
European monetary union was never a good idea. I remember my surprise when, as a young assistant professor, I realized that I was opposed to the Maastricht Treaty. I believed then – and still do – tha ...More
EJ Insight2015-07-23
Come to Asia and you will hear a growing chorus of concern that China is building a sphere of influence in the region. To promote Chinese foreign investment, there is the Asian Infrastructure Investme ...More
EJ Insight2015-06-12
The Federal Reserve is under attack. Bills subjecting the United States’ central bank to “auditing” by the Government Accountability Office are likely to be passed by both houses of Congress. Legislat ...More
EJ Insight2015-03-11
Economic pundits, almost without exception, are predicting a stronger US dollar in 2015 – an expectation that is leading investors to place some very large bets. But that market strategy could turn ou ...More
EJ Insight2015-01-14
Insecurity is haunting Ukraine – and not just geopolitical insecurity but economic insecurity as well. Output is in freefall. The country’s external deficit is exploding and borrowing costs have spik ...More
EJ Insight2014-11-26
