Director, Hutchins Center on Fiscal & Monetary Policy, Brookings institution. Contributing correspondent, The Wall Street Journal

More Men in Prime Working Ages Don't Have Jobs

How the Rising Dollar Could Trigger the Next Global Financial Crisis

investorsinsight.com — We are concerned about the consequences of multi-speed economic growth around the world and the growing divergence between major central banks. In our opinion, if these trends persist, they likely mean (1) a major US dollar rally, (2) a rapid unwind of QE-induced capital flows to emerging markets, (3) a hard slide in fragile emerging-market and commodity-exporter currencies, and (4) financial shocks capable of ushering in a new global financial crisis.

How the Rising Dollar Could Trigger the Next Global Financial Crisis

brookings.edu — Hyun Song Shin, who is on leave from Princeton while chief economist at the Bank for International Settlements in Basel, spends a lot of time wondering what could cause the next financial crisis. He suspects it will be something different from the leveraged bets on housing that were at the root of the last crisis.

12 Things to Know About Retirement

blogs.wsj.com — In a new, short, clearly written primer-" Falling Short: The Coming Retirement Crisis and What to Do About It"-retirement experts Charles Ellis, Alicia Munnell, and Andrew Eschtruth offer a four-part recipe for assuring that Americans can afford to retire comfortably: Work longer. Fix Social Security. Save more through 401(k) accounts.

Central Banks and the Wrinkle With Falling Oil Prices

brookings.edu — Lower oil prices are good for growth in the U.S., Europe, and Japan, but they'll also reduce the headline inflation rate at a time when the central banks are struggling to raise the underlying inflation rates in their economies and keep public and investor expectations of inflation from falling, says David Wessel.

Central Banks and the Wrinkle With Falling Oil Prices

blogs.wsj.com — David Wessel: On balance, falling oil prices are welcomed by the world's major central banks. But they'll also reduce the headline inflation rate at a time when the central banks, particularly in Japan and Europe, are struggling to raise the underlying inflation rates in their economies.

How the Rising Dollar Could Trigger the Next Global Financial Crisis

blogs.wsj.com — Hyun Song Shin, who is on leave from Princeton while chief economist at the Bank for International Settlements in Basel, spends a lot of time wondering what could cause the next financial crisis. He suspects it will be something different from the leveraged bets on housing that were at the root of the last crisis.

From an Unlikely Source, Praise for an Obama Approach to Social Policy

blogs.wsj.com — It's not every day-particularly these days-that a former Republican Ways and Means Committee staffer and a veteran of the George W. Bush White House has nice things to say about Barack Obama 's approach to domestic policy.

IMF Cites Hidden Price of Energy Subsidies

online.wsj.com — Problem one: Governments from the U.S. to Egypt to Japan are running big, unsustainable budget deficits. Problem two: Global governments are finding it tough to agree on an efficient, fair way to head off climate change. Fact one: Those governments...

4 Challenges for Central Bankers after the Financial Crisis

brookings.edu — David Wessel summarizes his remarks to the IMF's Jacques Polak Research Conference, noting new challenges to the world's central bankers such as increased public attention, the value of forward guidance and signaling, the persistence of "unconventional monetary policy," and the spread of macroprudential tools to bolster financial stability.
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