Contrary to widespread belief, post-war Democratic US presidents have been significantly better for the American economy than Republicans have. There is every reason to believe that trend will continue if Joe Biden wins on November 3.
President Trump’s nomination of economist Judy Shelton to the Federal Reserve’s board of governors lacks enough votes for confirmation, said Sen. John Thune, the No. 2 GOP leader in the Senate.
Frankel J. Are Bilateral Remittances Countercyclical?. Open Economies Review. 2011;22 (1) :1-16.
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Jeff FrankelEmigrants' remittances have held up in some developing countries, compared to what had been expected from the recession. It matches evidence that sending-country income relative to receiving-country income determines remittances (https://t.co/x6Ix4CrvlF?).
ft.com/content/424e69…
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News, analysis and comment from the Financial Times, the worldʼs leading global business publication
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Jeff FrankelEmigrants' remittances have held up in some developing countries, compared to what had been expected from the recession. It matches evidence that sending-country income relative to receiving-country income determines remittances (https://t.co/x6Ix4CrvlF?).
ft.com/content/424e69…
166d
As COVID-19 continues its global march, the whole world is paying the price for some countries' negligent and incompetent political leadership and the virtual breakdown of the rules-based multilateral order. But emerging and developing economies are...
As policymakers plan their COVID-19 responses, policymakers should remember a simple rule of thumb: let “W” stand for premature "withdrawal" of public-health or economic-stimulus measures. As previous crises have shown, such proposals should be...
Excerpts from columns by, and interviews of, Jeffrey Frankel, concerning the Coronavirus Recession of 2020.
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Jeff FrankelThe best precedent for Covid-19 is the Flu Pandemic of 1918-20. Its 2nd wave was worse than the 1st and naturally associated with the US recession of 1918(III)-1919(I). A 3rd wave may have played a role in the deep recession of 1920(I)-1921(III). More at
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Contrary to what US President Donald Trump would like to believe, a pandemic like COVID-19 was predicted as recently as last year. After being caught off guard by yet another catastrophe, one wonders when political leaders, markets, and average...
Jeff FrankelFor those of us learning how to lecture remotely. I Will Survive, Coronavirus version for teachers going online youtu.be/CCe5PaeAeew via @YouTube
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Jeff FrankelWhat is the appropriate instrument to deal with #ClimateChange? Not any of the policies available to #centralbanks. Not even the #GreenNewDeal.The right tool is the price of carbon. Either a carbon tax or cap-and-trade. Full blog: jeffrey-frankel.com/2020/01/22/car…bit.ly/30D4gKC
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If they are serious about tackling climate change, governments must quickly establish the expectation that the price of carbon will follow a generally rising path in the future. Lofty statements from public officials and optimal calculations from...
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Jeff FrankelWhat is the appropriate instrument to deal with #ClimateChange? Not any of the policies available to #centralbanks. Not even the #GreenNewDeal.The right tool is the price of carbon. Either a carbon tax or cap-and-trade. Full blog: jeffrey-frankel.com/2020/01/22/car…bit.ly/30D4gKC
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Jeff FrankelYou’d think trillion-$ deficits & repeated US screw-ups -- from the GFC to mideast foreign policy blunders -- might put a dent in the $’s role as #1 international currency. So far, it is holding up. (Far ahead of the RMB.) But perhaps not forever. My blog
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Jeff Frankel.#Germany’s economists, notably the prestigious council of 5 “wise people,” have come to the view that current economic weakness warrants counter-cyclically abandoning the “#blackzero” budget surplus (ft.com/content/b9fdad…).
Not too soon. My full post: jeffrey-frankel.com/2019/09/30/its…
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Jeff Frankel.#Germany’s economists, notably the prestigious council of 5 “wise people,” have come to the view that current economic weakness warrants counter-cyclically abandoning the “#blackzero” budget surplus (ft.com/content/b9fdad…).
Not too soon. My full post: jeffrey-frankel.com/2019/09/30/its…
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Jeff FrankelCongratulations to Maria Antonieta Alva, #Peru’s new Finance Minister. She was in Harvard Kennedy School's #MPAID class of 2014. (I guess this solves Lima's constitutional crisis?!) #VizcarraPresidente swore in a new ministerial team bloomberg.com/news/articles/… via @markets
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The United States government's assertion that the recent depreciation of the renminbi amounts to currency manipulation is not true. It would be more correct to say that the Chinese authorities gave in to market pressure – the immediate source of...
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Jeff FrankelWhen the #RMB depreciated past the 7.0 mark on Aug.5, the US declared #China a manipulator. But it clearly doesn’t meet the legal criteria. The #currency fall is due to economic fundamentals, esp. Trump's plan to put more #tariffs on imports from China.
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The best explanation for the current ten-year US economic expansion – tied for the longest since 1854 – is disappointingly simple: the Great Recession was the worst downturn since the 1930s. And if the dates of American business cycles were...
Cato Journal Managing Editor Amanda Griffiths provides summaries of the Spring/Summer '19 edition made up of the papers submitted to the 36th Annual Monetary Conference.
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Jeff FrankelI propose a mild version of #NGDPT: the #Fed could add a row for Nominal GDP in its Summary of Economic Projections. The #FederalReserve should not be constrained by rigid rules, as shocks bring regrets. My article is now published in the #Cato Journal.
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