THOUGHT LEADERS
Transatlantic Perspectives
Michael Boskin and Hans-Werner Sinn
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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The Fiscal Crisis Down Below
Michael Boskin Series: Transatlantic Perspectives 2010-01-22Sub-national governments – states, countries, cities, provinces, towns, and special districts – play different roles from country to country, but usually deliver important public services. In many countries, their fiscal position has collapsed under the combined weight of mismanagement and the global economic and financial crisis.... read Comments: 1 Recommended: 0 Read: 2921
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Insecure Securities
Hans-Werner Sinn Series: Transatlantic Perspectives 2009-12-23
Once upon a time, stocks were risky and collateralized securities were safe. That time is over, as the collapse of the US mortgage securitization market has exposed the once-vaunted American financial system's underlying lack of trustworthiness.... read Comments: 2 Recommended: 0 Read: 4464
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Industrial Policy Returns from the Grave
Michael Boskin Series: Transatlantic Perspectives 2009-11-24One of the worst responses by officials to the financial crisis and deep recession has been to revive “industrial policy.” Governments' use of subsidies, mandates, regulation, and capital investment to pick industrial winners and losers failed in the 1970's and 1980's, and it is just as bad an idea today.... read Comments: 0 Recommended: 0 Read: 3343
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Americans are from Italy, Europeans are from Japan
Hans-Werner Sinn Series: Transatlantic Perspectives 2009-10-23
Many people believe that America will try to play “the Italian card”: inflating away its public debt and devaluing the currency in order to maintain international competitiveness. Europe, meanwhile, also faces skyrocketing public debt, but the strengthening euro makes inflation impossible, making Japanese-style stagnation a serious risk.... read Comments: 0 Recommended: 1 Read: 8306
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The Government Debt Bomb
Michael Boskin Series: Transatlantic Perspectives 2009-09-23As the world economy begins to recover, renewed attention is being paid to enormous fiscal deficits and vast expansion of government debt. Fiscal exit strategies must be planned and implemented soon, before stimulus programs become permanently entrenched, develop powerful constituencies, and greatly increase the risk of rising interest rates, inflation, and taxation.... read Comments: 2 Recommended: 0 Read: 4007
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The Promise and Peril of Global Change
Hans-Werner Sinn Series: Transatlantic Perspectives 2009-08-24
The forces of globalization that were liberated by the fall of Communism have created a better world, with rapid economic convergence and shrinking inequality. But the future is also fraught with danger, as the changing global economic power structure will inevitably re-shape the geopolitical order in ways that incumbent powers, particularly the US, will not easily accept.... read Comments: 0 Recommended: 0 Read: 4637
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Of Banks and Bailouts
Michael Boskin Series: Transatlantic Perspectives 2009-07-23PALO ALTO – Early signs of a manufacturing rebound, already strong in Asia, lend hope for some modest recovery from today’s deep global recession. But a strong and durable economic expansion is unlikely until progress is made in dealing with the toxic assets poisoning the balance sheets of financial institutions and bedeviling policymakers almost everywhere.... read Comments: 1 Recommended: 0 Read: 5843
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Is the Bank Crisis Over?
Hans-Werner Sinn Series: Transatlantic Perspectives 2009-06-23
In recent months, US bank shares have rebounded, and some banks have even succeeded in repaying at least part of their government-provided capital. But this may only be a temporary improvement in expectations rather than a sign of permanent recovery, as the size of the banks’ hidden losses on their balance sheets is probably enormous, with much of it yet to be written off. ... read Comments: 0 Recommended: 0 Read: 6727
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Grading Obamanomics
Michael Boskin Series: Transatlantic Perspectives 2009-05-25It is too soon to gauge the full economic impact of Barack Obama’s economic policies, but a preliminary read indicates limited short-term benefit at large long-term cost. The administration is exploiting a crisis atmosphere to enact a vast agenda that would reengineer the American economy, from autos and financial services to health care, energy, and the distribution of income.... read Comments: 0 Recommended: 0 Read: 7321
| The World’s Biggest Shock Absorber | Hans-Werner Sinn 
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