Thursday, September 3, 2015
  1. Puerto Rico in Crisis

    Anne Krueger

    Puerto Rico in Crisis

    3

     says that the US and the island's government both bear responsibility for the deepening crisis.

    Puerto Rico flag Arnold Drapkin/ZumaPress

    Unlike Greece, Puerto Rico is not a country, which means that it is ineligible for multilateral financing; but nor is it a US state. This arrangement, though advantageous in some respects, also implies serious obstacles to the restoration of growth that the island so desperately needs. READ MORE

  2. Democratizing the Eurozone

    Yanis Varoufakis

    Democratizing the Eurozone

    24

     asks why European policymakers are less accountable than their Chinese counterparts.

    ECB headquarters Frankfurt Luo Huanhuan/ZumaPress

    Political systems prove their worth by how quickly they put an end to their officials’ serial, mutually reinforcing, policy mistakes. Judged by this standard, the eurozone, comprising 19 well-established democracies, lags behind the largest non-democratic economy in the world. READ MORE

  3. A Tale of Two Theories

    Jean Pisani-Ferry
  4. Will Americans Become Poorer?

    Martin Feldstein
  5. A Cautionary History of US Monetary Tightening

    J. Bradford DeLong

    A Cautionary History of US Monetary Tightening

    22

     points out that the last four episodes reduced employment and output far more than anticipated.

    Janet Yellen Ron Sachs/ZumaPress

    The US Federal Reserve has tightened monetary policy four times in the past 40 years, and all four time the impact on the economy was more harmful than expected. As the Fed prepares to tighten monetary policy once again, an examination of this history suggests that the US is about to enter dangerous territory. READ MORE

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318 pages

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