Macroeconomic Updates

Last week the leaders of the Group of Twenty met in Pittsburgh with the goal reforming the global economy to “meet the needs of the 21st century…”  So how did they do?  Here are my thoughts.  Please feel free to add your own.
Point of clarification: Geithner’s four pillars are: IMF, World Bank, WTO [...]

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Late on Friday, President Obama signed an order to impose a tariff on Chinese tires of 35% on top of the existing 4% tariff.  The order raises tariffs for three years on tires coming from China - 35% the first year, 30% the second year and 25% the third year.
The Chinese Minister of Commerce blasted [...]

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I just finished reading Paul Krugman’s 6800 word rant in the New York Times on the fields of finance and macroeconomics.  Thanks Tom, Prabhudev and the 40 or so other people who sent it to me!  (See “How Did Economists Get It So Wrong?” The New York Times, Sept. 6, 2009)
In usual Krugman form, he [...]

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