Curious About Trump’s Tax Returns? Blockchain Might Provide the Answer

Curious About Trump’s Tax Returns? Blockchain Might Provide the Answer

Tired of hearing the latest uproar surrounding President Donald Trump’s tax returns? Every president since Jimmy Carter has provided this information, but Trump has consistently refused to do so since claiming he was waiting for the results of an IRS “audit.” Even as the mystery surrounding his financial dealings threatens his plans for tax reform […]

Qatar: Six Countries Sever Diplomatic Ties, Gulf Unity Under Threat

Qatar: Six Countries Sever Diplomatic Ties, Gulf Unity Under Threat

   A. What happened? On June 4 2017, Saudi Arabia, the UAE, Egypt and Bahrain cut diplomatic ties with Qatar. The four Arab countries—joined a few hours later by Yemen and the Maldives—decided to: a) interrupt their diplomatic relations with Qatar; b) expel Qatar from the coalition currently fighting in Yemen; c) interrupt all transport links […]

Negative Rates Part 1: Beyond the Zero Bound

Negative Rates Part 1: Beyond the Zero Bound

  Interest in negative rates, at least as can be judged from hyper activity from commentators, has diminished. But a number of European central banks still have negative official rates. The European Central Bank (“ECB”) deposit rate is minus 0.30%. Switzerland’s policy rate is minus 0.75%. Sweden’s policy rate is minus 0.35%. The Bank of […]

The Vienna Deal: Only Temporary Relief in Oil Markets

The Vienna Deal: Only Temporary Relief in Oil Markets

photo: Global Panorama The Vienna agreement among OPEC and non-OPEC oil producers will extend oil cuts by nine months. After the deal, oil price plummeted by about 5 percent. Far more is needed to subdue new economic uncertainty and market volatility. Among the oil insiders, the decision to extend oil production cuts was seen as a […]

Capital Flows and Domestic Responses

Capital Flows and Domestic Responses

photo: Tax Credits The international impact of financial shocks became apparent during the global financial crisis. But how do financial flows affect economic conditions during non-crisis times? And are there ways to shelter the domestic economy from these flows? Some new evidence from the IMF seeks to answer these questions. IMF economists Bertrand Gruss, Malhar Nabar […]

The Navigation Acts Are Still Alive: A Century of the Jones Act

The Navigation Acts Are Still Alive: A Century of the Jones Act

  photo: Alexandra Zakharova American colonists resented the British Navigation Acts. Colonists smuggled, protested, and eventually revolted against the restrictions on trade. John Hancock, the most prominent signer of the Declaration of Independence, became one of the richest men in the Colonies by smuggling (John Hancock-Heritage). However, in 2017 in the independent United States of America, […]

NAFTA at the Crossroads

NAFTA at the Crossroads

The U.S. Senate voted to confirm Robert Lighthizer as United States Trade Representative last week, rounding out President Donald Trump’s cabinet and giving momentum to his trade agenda. At his swearing-in ceremony on May 15, Ambassador Lighthizer predicted that President Trump would permanently reverse “the dangerous trajectory of American trade,” and in turn make “U.S. […]

Will China Save the World?

Will China Save the World?

The Chinese leader Xi Jinping advocates globalization, which may increasingly aid the long-term development of the world economy. The US president Donald Trump does not serve globalization or even hinders the development of the world economy. Maybe some of his actions will revive the US economy in the short run, but they are harmful to […]

The Post-Referendum Turkish Economy: How to Write the New Chapter

The Post-Referendum Turkish Economy: How to Write the New Chapter

Turkey has left its constitutional referendum behind, along with the associated political uncertainties. In fact, not only the referendum but also certain earlier developments including the parliamentary elections in 2015 and the failed coup attempt in 2016 caused the country to deal with uncertainties for a considerable period of time. As a result, the governments […]