Peterson Institute for International Economics

Archive for January, 2010

  • The Financial System: Heading for More Trouble

    Simon Johnson argues that President Obama’s proposed bank tax is a step forward but the financial system is still distorted by flawed incentives.  Steve Weisman: What does the United States do about banks and financial institutions that are believed too big to fail? This is Steve Weisman at the Peterson Institute for International Economics with […]

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  • Does Russia Belong in the BRICs?

    Uniquely BRICs (Brazil, Russia, India, and China) has become a political grouping after having been invented by Jim O’Neill at Goldman Sachs. In June 2009, Russia organized the first BRIC summit, but will it hold?

    The emerging economies will soon account for most of the world economy. We are at a crossroads of world history, as Oswald Spengler caught in his pessimistic 1918 book Der Untergang des Abendlandes or Paul Kennedy in his 1988 book The Rise and Fall of the Great Powers.

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  • Will Sanctions Against Iran Work This Time?

    Jeffrey J. Schott says carefully targeted sanctions could impede Iran’s nuclear program and energy infrastructure, but they are unlikely to change Iranian leaders’ political agenda. Steve Weisman: A deadline for Iran to comply with a request to suspend its uranium enrichment has come and gone as of January 2010. This is Steve Weisman at the […]

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  • A Growing US-China Rift

    Nicholas R. Lardy says relations with China are deteriorating over climate change, Iran, and the possible return of global current account imbalances. Steve Weisman: It’s early 2010 and China is increasingly the focus of news on several fronts including climate change, the possibility of sanctions in Iran, and the future of the global economy. This […]

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  • Monetary Policy and Asset Bubbles in 2010

    In his speech at the American Economic Association on Sunday, Ben Bernanke, chairman of the Fed, said that monetary policy played at most a small role in the US housing bubble and that financial regulatory policy is the appropriate tool for preventing harmful asset price bubbles in the future.  I agree with these conclusions, but I suspect that many do not, even within the world of central banking.

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