What’s on China’s Mind?

During my recent visit to China I’ve given a few lectures at the top Beijing universities – Tsinghua, Renmin, Normal, and Beijing – and seminars in some think-tanks and research institutes, including the Center for China and Globalization. I also had couple of meetings with the readers of my new book published in Chinese: “Shi […]

When it comes to fiscal policy, it’s better to save for a rainy day than to let it pour

While pro-cyclical fiscal policies – ie. expansionary fiscal policies in booms and contractionary fiscal stances in downturns – remain a common feature among developing countries, some countries have recently moved toward a less pro-cyclical fiscal stance, as a result of stronger institutions. From theoretical and risk management points of view, a countercyclical fiscal policy can […]

When it comes to fiscal policy, it’s better to save for a rainy day than to let it pour

While pro-cyclical fiscal policies – ie. expansionary fiscal policies in booms and contractionary fiscal stances in downturns – remain a common feature among developing countries, some countries have recently moved toward a less pro-cyclical fiscal stance, as a result of stronger institutions. From theoretical and risk management points of view, a countercyclical fiscal policy can […]

Growing Wage Dispersion Increases Income Inequality

In the past five years, concerns about increasing income inequality have been at the center of economic policy debates. There is one area though that has remained relatively unexplored. This is the area that deals with the relationship between the labor share of income and personal income inequality. Income inequality refers to the personal distribution […]

A Look Behind the Trans-Pacific Partnership Talks

Despite obstacles, the White House continues to push preferential trade deals in Asia and Europe. But neither can reverse the erosion of U.S. innovation and in Asia Pacific the proposed pact has potential to divide than unify the region and has already split the 2016 Democratic campaign. Recently, President Obama said on the U.S. public […]

A Look Behind the Trans-Pacific Partnership Talks

Despite obstacles, the White House continues to push preferential trade deals in Asia and Europe. But neither can reverse the erosion of U.S. innovation and in Asia Pacific the proposed pact has potential to divide than unify the region and has already split the 2016 Democratic campaign. Recently, President Obama said on the U.S. public […]

Russian Crisis Hits Latvia, but (So Far) Not as Badly as Feared

From the beginning, it was clear that the economic crisis in Russia would pose multiple problems for Latvia and its Baltic neighbors. Until recently, many businesspeople in Latvia had seen close trade, transportation, and financial linkages as strengths that allowed their country to serve as Russia’s economic portal to the EU. Since the middle of […]

Will Iran’s Sanctions End? Iran’s Economic Potential and How US and EU Interests Are Diverging

After decades of international isolation, Iran is eager to enter its post-sanction era, while Washington is divided about Iran’s future and Brussels remains apprehensive. Recently, Peter Wittig, German Ambassador to the US, said that alternatives to a deal to curb Iran’s nuclear program are “not very attractive.” He added that Germany and other nations are […]

The Xi-Modi Meeting: China and India Positioned for Asian Era

China and India are ready for breakthrough diplomacy that has the potential to reorder the face of Asia, while supporting global growth prospects. From May 14th to 16th, India’s Prime Minister, Narendra Modi, will make a three-day trip to China and meet President Xi Jinping. It can be seen as Act 2 to the September […]

If Greece Had Not Existed, Europe’s Leaders Would Have Had to Invent It

δεῖ δ’ αὐτὸν ἐς φάρμακον ἐκποιήσασθαι – He must be chosen from among you as a scapegoat. Hipponax One of the more intriguing aspects of the whole modern Greek drama is the tragicomic way the country seems to be constantly condemned to live out well known themes which come from its own mythology. The latest […]

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