November 15, 2007
Musings on the Trade Release and Consumption Theory
Last week's trade release induced some wide-ranging thoughts, that spurred more questions than answers. In an experimental post, I'll pose some questions that I hope readers will help me answer.
September 13, 2007
Saving Glut Redux
Bernanke recaps his interpretation of the explanation for global imbalances. Is it any more convincing than the first time?
January 09, 2007
International Economics at the AEA/ASSA: Selected Items
The Allied Social Sciences Association (incorporating the AEA, the Econometric Society, the International Economics and Finance Society and many other groups) meetings took place in Chicago this last weekend. I wasn't able to go to that many sessions, but I did attend a few related to international issues.
February 12, 2006
Oil shocks and personal saving
October 16, 2005
How important is saving?
October 02, 2005
But you said that more saving was a good thing
After many of us have been arguing for some time that an increase in the U.S. personal saving rate was key for promoting long-run growth and reducing the trade deficit, the American consumer finally obliged with a 0.5% drop in consumption spending in August. But analysts such as Angry Bear and Macroblog see this as an ominous development. So which is right-- is more saving a good thing or a bad thing for the economy?
July 30, 2005
Which came first: the savings chicken or the deficit egg?
David Altig at Macroblog raises some very thoughtful questions about the relation between the drop in the U.S. saving rate and the current account deficit.
July 16, 2005
Should we worry about all that debt held by foreigners?
I think we should, and here's why.
July 03, 2005
Where did that huge trade deficit come from?
Some have blamed the rest of the world for the rapidly growing U.S. current account deficit. But I believe that the true explanation is to be found here at home.