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The Optimal Design of Sovereign Wealth Funds
Although much of the news flow regarding oil in recent days has focused on the terrible environmental tragedy off the Gulf of Mexico, another oil-related story has occupied the minds of many market...
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Environmentally-Friendly Growth Without the Pain
The usual way that most people---and many economists---view environmental matters is that they serve as a constraint to growth. Whether and how such a constraint should be respected, then, becomes a...
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Is Modern Macro Useful for Development Economics (and Economists)?
One of the interesting byproducts of the global financial crisis has been the induced crisis in the economics profession. More precisely, there has been a minor intellectual crisis in macroeconomic...
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To (Fiscally) Stimulate or Not to Stimulate, That is the Question....
As the U.S. economy increasingly sends mixed signals about the strength of its recovery, the significantsparring over the efficacy of the stimulus has regained an urgent relevance (papers, in PDF,...
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Small-Time Convergence
For any macroeconomist concerned about growth in nations, economic convergence---the catch-up of less developed economies with the mature industrialized ones---is the ultimate dream. The basic premise...
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Libor-gate
The recentkerfuffleoverLIBOR (or perhaps, Lie-bor) has led many, including those living in developing countries but reliant on the global interest rate benchmark, wondering how the apparently flawed...
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Global investment patterns will see radical changes by 2030
In an earlier post, we highlighted a feature of the global pattern of investment in recent times: that since 2000, developing countries have gradually increased their share of global investment,...
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Running a Horse Race Among Institutions for Investment
The variation in investment among developing countries is truly remarkable. Over the course of the 30-year period between 1980--2010---a period of relative calm in the global economy that is often...
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Disentangling the Economic Uses of Bitcoin as Currency
Unless you've been sleeping under a haystack, you almost certainly would have heard of the wonderful promises of the cryptocurrencyBitcoin (PDF). While it's not necessary to go into the technical...
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Spillover Effects from Unconventional and Conventional Monetary Policy
I recently had the opportunity to attend a conference co-organized by the European Central Bank and International Monetary Fund on international dimensions of conventional and unconventional monetary...
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