Economics & Convergence
Back to homepage
Nouriel Roubini: The Mystery of the Missing Inflation
Since the summer of 2016, the global economy has been in a period of moderate expansion, yet inflation has yet to pick up in the advanced economies. The question that inflation-targeting central banks must confront is straightforward: why? Since the
Read More
Robert J Shiller: Understanding Today’s Stagnation
Ever since the Great Recession of 2007-2009, the world’s major central banks have kept short-term interest rates at near-zero levels. In the United States, even after the Federal Reserve’s recent increases, short-term rates remain below 1%, and long-term interest rates
Read More
Otaviano Canuto, IMF: What Happened to World Trade?
World trade suffered another disappointing year in 2015, experiencing a contraction in merchandise trade volumes during the first half and only a low recovery during the second half (Figure 1). While last year’s trade performance can be associated to the
Read More
Ross Jackson: Stemming the Flow of Refugees – An Holistic Approach
The unprecedented surge of refugees streaming into Europe is no doubt due to the ongoing wars in Syria and Iraq and the unstable situation in Libya. However, refugees were arriving in Europe long before these wars began. They will continue
Read More
Michael Pettis: China – What the New Currency Regime Means and How It Affects the World
On Tuesday, August 18, the People’s Bank of China (PBoC) surprised the markets with a partial relaxing of the currency regime, prompting a great deal of discussion and debate about the value of the renminbi (RMB). Part of the discussion
Read More