Jeffrey Frankel
Trade wars: The real cost of Trump’s tariffs
Trump seems unfazed by the possible long-term effects of a protracted trade war: a decoupling of the Chinese and American economies, and a loss of gains from trade
Explained: Why monetary policy cannot curb trade ones
Skillful monetary policy can help offset a negative demand shock, but can do little or nothing to offset a supply shock caused by adverse trade developments.
Settling for the less: The new and not improved NAFTA
This is Trump’s modus operandi: Threaten to do something catastrophic, so people are relieved when things get a little bit worse.
Currency manipulator? Trump’s currency confusion continues
Trump thinks his tariff war will improve the US trade balance, but does not understand that if foreign exporters are cut off from the US market, they will not have the dollars to buy US goods.
The depth of the next US recession
As we approach the tenth anniversary of the global financial crisis, we should recall how we got there. In 2003-07, the US government pursued fiscal expansion and financial deregulation—an approach that, even at the time, w
Historical Precedent: The Republican party’s protectionist pedigree
President Donald Trump’s aggressive approach to trade, which was on stark display at last week’s G7 summit in Quebec, has elicited widespread derision. Critics point out that his tariffs hurt the domestic economy while un
An economic platform for US Democrats
Democrats could raise government revenue further by implementing a carbon tax—an approach that would also have environmental benefits.
Why China won’t yield to Donald Trump
China, the ‘surplus’ country in the trade war has accumulated financial claims against its “opponent”.
The big economic message from markets
Another popular response to the recent correction has been to complain that the market has been made more volatile, because trading is increasingly carried out by machines, rather than humans. True, if a computer is programme
Macro question: Does trade fuel inequality?
Multiple factors, including urbanisation, high savings rates, and improved access to education, undoubtedly underlie these countries’ impressive performance.
Reagan’s tax reforms revisited
The US has plenty of experience with irresponsible tax cuts. Yet its leaders seem not to have learned their lesson. Should Republicans secure the legislative victory they so desire, the entire country—with the exception, pe
Rules too onerous, but here’s how to renegotiate NAFTA
US president donald Trump’s administration says that it is sticking with its campaign promise to renegotiate the North American Free Trade Agreement.
Making crises great again
Debates about financial regulation tend to focus on quantity, not quality. But “more versus less” isn’t so much the issue; the details are.
Demonetisation in India was abrupt and secretive, find out how
India’s rapid demonetisation has obviously fallen short, because it was unnecessarily abrupt and secretive
The domestic threat to US leadership
What is clear is that US politics, not global developments, will be the main determinant
Column: Reckoning with inequality
Voting for candidates who will enact the right policies is a far more direct strategy for addressing inequality
Column: Who’s right on US financial reform?
Republicans mostly undermined the US’s financial regulatory-reform law but have not paid any political price for it
Column: China’s stock-market red herring
Land and labour law flexibility, and a host of other reforms, will determine the country’s fate, not its stock market
Column: A fair, efficient, and feasible climate agreement
The Paris accord was a reasonable outcome in a difficult situation
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