The Pandemic and the Emerging Markets Crisis: How Fragile are the Economies?
Utku Demir and Merih Uctum
June 11, 2020
The Emerging Market (EM) economies that came out of the 2008 financial crisis relatively faster than advanced economies are hard hit by a quadruple-whammy this time: the pandemic, capital outflows, economic recession, and debt crisis.Read more
Lessons from Taiwan’s Healthcare Reform
William B. Thorne
November 27, 2019
Taiwan's single-payer National Health Insurance system was implemented in 1995 and designed using the U.S. Medicare program as a template.Read more
Unconventional Monetary Policies Become Conventional After All?
Fotios Siokis
October 21, 2019
What are unconventional monetary policies? How are they implemented in the European Union? What does the future look like? In this article we address these questions. On September 12,2019, the President of the European Central Bank (ECB) announced a new monetary stimulus package... Read more
Trump’s Trade Quagmire
Paul Krugman
August 30, 2019
Remember the Vietnam quagmire? In political discourse, “quagmire” has come to have a quite specific meaning. It’s what happens when a government has committed itself to a policy that isn’t working but can’t bring itself to admit failure and cut its losses.Read more
U.S. – China Trade Conflict: Impacts on China
Zhuo Xi
July 23, 2019
Starting from the different positions held by the Trump administration and the Chinese government on issues such as the bilateral trade balance, market access, and intellectual property transfers, China and the U.S., the world’s two largest economies, have been quarreling over trade for more than a year. Read more
The Sword of Damocles (Part II): The Precariousness of the Greek Banking System during the Great Sovereign Debt Crisis
Fotios Siokis
March 04, 2019
With the collapse of Lehman Brothers in September 2008 and the transmission of the crisis to world financial markets, financial liquidity started to drain and investors’ confidence began to deteriorate. Central banks around the globe initiated unprecedented expansions of their liquidity... Read more
The Sword of Damocles (Part I): The Precariousness of the Greek Banking System During the Great Sovereign Debt Crisis
Fotios Siokis
February 19, 2019
The Greek economy appears finally to have turned the corner with the Government’s announcement, in August 2018, that the country has exited its third bailout package. This article examines the role of banks in the recovery and the debt crisis. Read more
Argentina’s Latest Crisis
Meng-Ting Chen and Joseph van der Naald
November 16, 2018
Following a stunning fall in the value of its peso, a total loss of nearly 50% for 2018, and interest rates hitting 60%, Argentina’s economy appeared to be facing the strong likelihood of a crisis. While the government responded by taking a number of measures... Read more
The Turkish Currency and Debt Crises
Merih Uctum and Zhuo Xi
September 22, 2018
On August 9 the Turkish currency, the Lira, hit record lows and rattled emerging markets. The travails of the Argentinian economy subsequently weakened the Lira further. In this analysis article, we examine the economic and financial reasons behind the turmoil... Read more
A Primer on Rules of Origin in NAFTA Negotiations and What Is Next
Richard J Nugent III
December 22, 2017
The latest round of negotiations of the North American Free Trade Agreement (NAFTA) on November 21 ended with no major breakthroughs on contentious issues such as autos, dairy and rules of origin among others. The US administration’s demand that at least half of a NAFTA-qualifying vehicle... Read more
Greek Debt in Historical Perspective: An Opinion Article
Anthony Rodolakis
November 22, 2017
Current fiscal proposals are projected to lead to a sizeable increase in U.S. debt and while people point to the Greek crisis to warn about high debt, a closer look at Greece’s debt history reveals few similarities. Modern Greek economic history is a history of debt. Read more
Federal Funds Rate Hike and Sovereign Risk in Latin America
Miguel Acosta-Henao
August 31, 2017
The Fed has started increasing the federal funds rate, reversing its decade long accommodative monetary policy. The last time such a reversal in the Fed policy occurred, the impact on emerging markets in Latin America was deleterious. This article examines if history will repeat itself. Read more
A Finger Exercise on Hyperglobalization
Paul Krugman
July 11, 2017
The days when surging world trade was the big story seem like a long time ago. For one thing, trade has stopped surging, and seems to have plateaued. For another, we have faced more pressing issues, like financial crisis. Read more
The United States, Mexico, and NAFTA
The Economic Studies Group
June 28, 2017
The terms of current and proposed U.S. trade agreements are getting renewed attention as to their impacts on the U.S. economy and workforce. Recently, U.S. trade with Mexico has become a particular focus for reconsideration as trade between the two countries has grown remarkably since... Read more
A Primer on Brexit
Merih Uctum
December 20, 2016
In a referendum on June 23, 2016 Britain voted to leave the European single market paving the way to further turmoil in Europe. This note summarizes why this happened and the implications for Britain when it pulls out. Read more