RESEARCH AND COMMENTARY
Yeongseop Rhee, January 06, 2009, The Brookings Institution
As rumors about Kim Jong-il’s health focus attention on the future of the Korean peninsula, CNAPS Nonresident Fellow Yeongseop Rhee examines issues in South-North monetary integration, a vital aspect of unification. The success – or failure – of monetary integration will have major effects on the peninsular economy, the standard of living in the North, and the South’s appetite for unification. Read More
RESEARCH AND COMMENTARY
Barry W. Ickes and Clifford G. Gaddy, January/February 2009, The National Interest
With the rise in oil prices and a conservative fiscal policy, Russia turned from a debtor nation into an economic powerhouse. Putin’s strategy created a compromise between the excesses of the free market and the inefficiencies of a command economy. Yet there remain deep cracks in the foundation of the post-Soviet structure. In a recent article in The National Interest, Clifford Gaddy and Barry Ickes discuss whether or not his Putinomics can survive the financial crisis. Read More
RESEARCH AND COMMENTARY
Eswar Prasad, M. Ayhan Kose and Marco E. Terrones, January 05, 2009, VoxEU.org
There is a vast empirical literature analyzing the impact of financial openness on economic growth but far less attention has been paid to its effects on productivity growth. This is surprising given the strong evidence that productivity growth is the main driver of long-term economic growth. In this new commentary, Brookings fellow Eswar Prasad, along with M. Ayhan Kose and Marco E. Terrones, argues that financial openness in fact has a positive impact on productivity growth, although the effects are subtle.
Read MoreVIDEO
Gary Burtless, December 30, 2008
Senior Fellow Gary Burtless says the credit crisis has resulted in a serious domino affect for the auto industry where the consumer can’t borrow to buy cars and auto makers can’t borrow to stay afloat – this can have a profound impact on unemployment rates, he notes.
RESEARCH AND COMMENTARY
Eswar Prasad and Marcos Chamon, December 2008, The Brookings Institution
In China, the household savings rate rose by 7 percent from 1995 to 2005, reflecting savings of about one quarter of disposable income. Why are Chinese households saving so much across all demographic groups? In a new paper, Eswar Prasad and Marcos Chamon analyze the savings patterns of households in China and discuss the economic drivers. Read More
VIDEO
Bill Frenzel, December 22, 2008
Brookings Guest Scholar Bill Frenzel, a former Member of Congress, says federal legislators should tread carefully when considering bailing out failing businesses.
VIDEO
Barry P. Bosworth, December 19, 2008
Despite the Fed’s historic actions, the economy is still ailing. Barry Bosworth says fiscal policy needs to be the next step: expenditures are important, with tax cuts being the quickest way to stimulate the economy.
RESEARCH AND COMMENTARY
H. Peyton Young and Dean P. Foster, December 17, 2008, Institutional Investor
Based on the 2008 working paper, "The Hedge Fund Game," Peyton Young and co-author Dean P. Foster show how surprisingly easy it is for unskilled managers to create “fake” alpha, mimicking the returns of their more skilled and scrupulous peers. The only way to protect the industry, the authors argue, is through greater transparency. Read More
PAST EVENT
Thursday, December 11, 2008
10:00 AM to 11:30 AM
Washington, DC
On December 11, Brookings hosted the sixth of 12 events to provide timely policy recommendations and political advice to the incoming president and his transition team. Brookings Senior Fellow Martin Baily offered policy solutions and priorities for the president-elect on the financial meltdown and the struggling housing market. Read More
VIDEO
Martin Neil Baily and Stephen Hess, December 11, 2008
Brookings expert Martin Baily says there is plenty of blame to go around for the financial crisis, and President-elect Obama will have his hands full. In this transition podcast, Baily proposes long-term efforts to restore confidence in the financial system, while author Steve Hess discusses the critical role of the White House speechwriters.
PAST EVENT
Wednesday, December 10, 2008
12:30 PM to 1:30 PM
A new administration is an opportunity for restoring confidence in the U.S. economy through greater transparency in how the financial system works and through new regulations that assure that such a crisis will not happen again. On December 10, Martin Baily answered questions in a live web chat with Politico about fixing our troubled economy. Read More
VIDEO
Isabel V. Sawhill, December 09, 2008
In these tough times, the economy needs a stimulus, regardless of the impact on the deficit, says Isabel Sawhill. But prudent action needs to be taken to address runaway entitlement spending and that agenda should reconsider our intergenerational spending priorities.
RESEARCH AND COMMENTARY
Sarah A. Binder and Mark Spindel, December 09, 2008, The Brookings Institution
Sarah Binder and Mark Spindel suggest that Congress should amend the $700 billion Troubled Assets Relief Program in several ways, including a rewrite of the conditions put on institutions that take TARP dollars. It is not too late to fix the mistakes made in the rush to enactment, they write. Read More
RESEARCH AND COMMENTARY
Gary Burtless, December 05, 2008, Los Angeles Times
Gary Burtless argues that the Big 3 deserve federal help for two reasons: humanitarian -- avoiding worker layoffs at a time when new job prospects are so bleak, and simple self interest because the failure of one or more of the Big Three would inflict a terrific blow to consumer and investor confidence. The pain of adjustment and the scale of the job loss from the industry's reorganization can be lessened if the industry gets the government loans, rather then letting these firms disappear. Read More
RESEARCH AND COMMENTARY
Eswar Prasad, December 04, 2008, The Brookings Institution
As the U.S. and China gather in Beijing for their twice yearly Strategic Economic Dialogue meetings, Eswar Prasad examines the U.S.-China economic relationship, key issues and the potential future of the economic dialogue that was created by Secretary Paulson. Read More