Are Mega-Trade Agreements a Threat to Brazil?

The landscape of international trade negotiations has been undergoing an upheaval. On the multilateral level, after 15 years of unsuccessful attempts to close the Doha Development Round at the World Trade Organization (WTO), the negotiation system has shown to be highly vulnerable to blockades by any small group of member countries. The complex web of […]

America’s Current Accounts Deficits: Not Quite Déjà Vu

The U.S. current account deficit has narrowed since 2006, when it reached $807 billion, which represented 5.8% of U.S. GDP. By 2013 the deficit had fallen to $400 billion, worth 2.4% of GDP. But the IMF last October projected it would reach $484 billion in 2015, 2.6% of GDP, and would continue rising after that. Are we […]

Measuring Risk From U.S. Tax Bracket Changes

Let’s take a trip down the Amazon River. Some of the dangers we might face are malaria, wild predators, and who knows, maybe even a batch of hostile natives. But what if we knew without a doubt that we would arrive back to civilization unharmed?  Our special knowledge would remove the danger from all those […]

The Spanish Launch of Modern Money Theory

Sorry, I’ve been very busy in recent weeks, finishing up a book on Minsky and revising my Modern Money Primer for a second edition (more on both of those projects later). Meanwhile, Lola Books is gearing up to release the Primer in Spanish next week. I’ll be in Madrid for the launch and for a […]

EuroGroup – Money For Nothing And Your Debt For Free?

There’s an interesting question about “analysis” which confronts anyone who seriously wants to engage in it: do you organize your focus around what you want to happen (practical policy emphasis) or do you concentrate your efforts in detailing and outlining what you think will happen? Naturally the closer you are to having an ideological discourse […]

Spain’s “Good” Deflation?

Spain’s domestic economy is booming, or so the story goes, and in no small part this boom comes thanks to the arrival of what is being termed the “good kind of deflation”, the sort everyone would like to have, a world where prices fall, real incomes rise, jobs are created, and everyone gets to live […]

Euro-Greece Crisis: Time for a Compromise

As the hard talks on Greece’s bailout start again, there is no time to lose. A compromise is possible. Before the weekend, Eurogroup president Jeroen Djisselbloem said that “Greece wants a lot but has very little money to do that. That’s really a problem.” Unfortunately, Brussels is not exactly in a winning position either. Eurozone’s […]

Greece’s Syriza Deserves the Benefit of the Doubt

The current discussions between the new Greek government and its euro area partners have raised many questions and comments on Greece’s debt level and the need for debt cancellation measures. The goal of this note is to suggest that greater importance should be given to economic growth than to debt cancellation. It is urgent to […]

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