December 20, 2018
- The global economy started 2018 on an upbeat note, buoyed by a pickup in global manufacturing and trade through 2017. […]
April 17, 2018
The world economy continues to show broad-based momentum. Against that positive backdrop, the prospect of a similarly broad-based conflict over trade presents a jarring picture.
Three months ago, we […]
October 27, 2017
The boom and bust in cross-border capital flows around the global financial crisis, and in its aftermath, have rekindled debates on the existence and implications of a “global financial cycle.”
The traditional open-economy (“Mundell-Fleming”) model postulates that countries face a “trilemma”: a trade-off among the objectives of exchange rate stability, free capital mobility, and independent monetary policy. […]