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A website forum in which senior fellows of the Peterson Institute for International Economics discuss and debate their responses to global economic and financial developments as they occur each day and offer insights that others might overlook.
The shift in employment in the United States toward the service sector has long been associated with rising income levels. Generally speaking, the larger a country’s services sector as a share of the economy and employment, the richer the country. What, then, is the outlook now that the global [...]
Buried in the late wire news on Friday, June 26—and therefore barely registering in the newspapers over the weekend—the Treasury announced the rules for pricing its option to buy shares in banks that participated in the Troubled Asset Relief Program (TARP).
The Treasury Department said the banks will [...]
Paul Volcker is always a rewarding read. He is a balanced straight-thinker. With the Internet, the cost of reading Volcker is only the time it takes to read plus the necessary additional effort to think about what he has said. A recent example is Volcker on the economy, the international monetary [...]
German Chancellor Angela Merkel will meet with President Obama today, June 26, in Washington to deepen US-German cooperation on economic, security, and climate-change issues. An unfortunate quote of mine to a German paper from some months back has been trotted out in the press to exemplify informed American skepticism on the German governing coalition’s economic [...]
In recent weeks we have seen again that bond markets do respond negatively to projections of big government deficits. How difficult will it be for the world’s leading economies to confront plunging confidence in the bond markets by balancing their government budgets? A comparison of the challenges faced by different members [...]