Archive for the ‘Trade/Foreign Policy’ Category

Clarifying my take on dueling trade models

February 2nd, 2016

[See “update” at end of post–JB] The NYT reported on this presentation yesterday at which I spoke on the results from a new trade model, by economists from Tufts University, of long-run growth outcomes from the TPP. The Times piece characterized me as there to “support the authors.” That’s correct. But I want to be very clear… Read more

TPP not equal to “free trade”

January 13th, 2016

I have written extensively on this point: there’s a big difference between those magical words “free trade” that everyone invokes in this town whenever the topic comes up, and actual trade deals. But I think Rep. Sandy Levin thoroughly nailed this distinction in testimony before the International Trade Commission this morning: We all recognize that… Read more

What’s holding back US GDP? (hint: it’s not the Fed rate hike)

December 21st, 2015

The US economy is posting solid numbers in important places: GDP is consistently growing around a trend of slightly north of 2 percent, we’re adding around 200,000 jobs per month, which is more than enough to put downward pressure on the remaining slack in the job market. It’s true that wage growth and especially inflation… Read more

Looks like the Chinese yuan is about to get added to the IMF’s SDR’s. Why that’s good news.

November 30th, 2015

The IMF votes today to decide whether to add the Chinese currency, called both the yuan and the renminbi, to its basket of four other currencies that make up its SDRs–special drawing rights. All signs are that the yuan will get the nod and jump into the basket alongside the US greenback, UK pound sterling,… Read more