INTERNATIONAL ECONOMICS
Transatlantic Perspectives
Hans-Werner Sinn and Michael Boskin
Will the euro displace the dollar as the world’s principal reserve currency? How should financial markets be re-regulated without stifling innovation? Should the European Central Bank focus on growth, as America’s Fed does? Is Germany’s export-led growth strategy a threat to its trading partners?
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A Referendum on Obama
Michael Boskin Series: Transatlantic Perspectives
2012-01-31The 2012 US presidential election will be a referendum on Barack Obama’s policies and performance. A Republican presidential victory, together with Republican control of Congress, would most likely lead to substantial reduction, repeal, and replacement of many Obama initiatives, attempts to reform taxes and entitlements, and greater fiscal discipline.... read Comments: 5 Recommended: 0 Read: 8083 -
Two Models for Europe
Hans-Werner Sinn Series: Transatlantic Perspectives 2011-12-29The eurozone's sovereign-debt crisis is eating its way from the periphery to the core, and the exodus of capital is accelerating. If the eurozone does not want to embrace capital controls, it has only two alternatives: stop the local printing of money, or provide investment guarantees in countries that markets view as insecure.... read Comments: 10 Recommended: 1 Read: 20955 -
Europe’s Last Best Chance
Michael Boskin Series: Transatlantic Perspectives 2011-11-25
The social insurance systems in Europe and elsewhere are failing because they have promised too much, to too many, for too long. Greece and Italy, along with the rest of the EU, will demonstrate whether democracies with heavily benefit-dependent populations can rein in the welfare state's excesses.... read Comments: 9 Recommended: 1 Read: 17726 -
Italy’s Capital Flight
Hans-Werner Sinn Series: Transatlantic Perspectives
2011-10-25When it comes to refinancing Italy, bond purchases are just the tip of the iceberg: in August alone, Italy’s central bank drew €40 billion in credit from the ECB system, and it probably drew roughly another €50 billion in September. This is not the end of the world – not even for the ECB – but the eurozone has entered dangerous territory.... read Comments: 1 Recommended: 1 Read: 16222 -
Europe’s Triple Threat
Michael Boskin Series: Transatlantic Perspectives 2011-09-22
Europe is suffering from simultaneous sovereign-debt, banking, and currency crises, forcing policymakers to use all vehicles at their disposal – including the ECB, the IMF, and the European Financial Stability Facility – in a desperate attempt to stem the financial panic, contagion, and risk of recession. But are they going about it in the right way?... read Comments: 4 Recommended: 1 Read: 19507 -
The Trouble with Eurobonds
Hans-Werner Sinn Series: Transatlantic Perspectives 2011-08-25Europe needs to face reality and initiate the difficult adjustment processes within the real economy that are necessary to rebalance the eurozone. Eurobonds would numb the distressed countries’ current pain, but, by failing to treat the underlying disease, they – and the eurozone as a whole – would end up far sicker than before.... read Comments: 6 Recommended: 0 Read: 19907 -
The Euro-American Debt Dilemma
Michael Boskin Series: Transatlantic Perspectives 2011-07-29
The debt dilemmas in Europe and the US prove yet again that elected officials will ignore long-run costs to achieve short-run benefits, and will act only when forced. And that implies an extended period of episodic economic disruption and political upheaval far beyond this summer’s debates on America’s debt ceiling and Europe’s distressed sovereign debtors.... read Comments: 3 Recommended: 2 Read: 19680 -
Farewell to the Euro?
Hans-Werner Sinn Series: Transatlantic Perspectives
2011-06-30It is time to face the fact that Europe’s peripheral countries have to become poorer. The only question is whether they will take the euro down as well.... read Comments: 2 Recommended: 0 Read: 21498 -
Voters vs. the Welfare State
Michael Boskin Series: Transatlantic Perspectives 2011-05-24
Only time will tell if recent elections in the UK, the US, and Canada, together with next year's presidential election in France, signal a retreat from the growth of the welfare state or just a temporary respite. But comparing the four countries economic performance reveals that the stakes are immense.... read Comments: 7 Recommended: 0 Read: 19715
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