Monetary Issues

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Snapshot,
Daniel Cloud

The ruble has already lost almost half its value against the dollar this year, and there is little doubt that Putin will end up badly wounded. The question is whether he will drag his country down with him, turning Russia into a full-fledged pariah state. 

Snapshot,
Nicholas Spiro

Fed policy is once again revealing which emerging markets have strengthened their defenses against a tightening in U.S. monetary policy and which remain vulnerable. For its part, Turkey is firmly in the latter camp.

Snapshot,
Alan Greenspan

In today's world of fiat currencies and floating exchange rates, a return to the gold standard seems to be nowhere on anybody’s horizon. Yet gold still has special properties that no other currency can claim -- which is why China is boosting its holdings.

Essay, SEPT/OCT 2014
Ruchir Sharma

Global investors usually focus on economic data such as GDP growth, employment, and trade. But in today’s trying economic climate, they have started to train their gaze elsewhere: on national political leadership and the prospects for reform.

Essay, JUL/AUG 2014
Benn Steil

In today’s dollar-dominated financial system, changes in U.S. monetary policy can have immediate and significant global effects, wrecking economies and toppling regimes. As a result, for many countries monetary sovereignty is nothing but a dream.

Snapshot,
Wojciech Kopczuk and Allison Schrager

There’s limited evidence that wealth inequality has actually worsened in the United States in the last 30 years. And, even if it does eventually get worse, imposing a tax on wealth is a terrible way to promote equality. It would actually benefit the super wealthy the most.

Snapshot,
Nate Schenkkan

Sanctions might not stop Russia's destabilization of Ukraine, but Western policymakers should embrace them for another reason: because they can put a nail in the coffin of the project that started the Ukraine crisis to begin with -- Eurasian integration.

Snapshot,
Evan A. Feigenbaum and Damien Ma

For its broader reform project to succeed, China needs a new “federalism” -- a realignment of central and local government power -- that can adapt to the conditions of a rapidly changing economy.

Review Essay, May/June 2014
Tyler Cowen

Thomas Piketty’s Capital in the Twenty-first Century is a truly important book, a groundbreaking work of analysis of economic inequality. It is frequently brilliant, but also flawed, and its policy recommendations are wildly impractical.

Snapshot,
Tom Keatinge

Since 2011, FATF, the international body charged with developing policies to combat money laundering and terrorism financing, has had Turkey on its gray list of high-risk and non-cooperative jurisdictions. Here's why.

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