Economics & Global Affairs

875 Items

Central Bank of Iran

Tasnim News

Analysis & Opinions

Did Bad Economic Conditions Cause Iran’s protests?

| Mar. 01, 2018

Like other Iranian president before him, President Hassan Rouhani is having a bad second term. Only six months after his decisive re-election, protesters were in streets shouting “Death to Rouhani.” Then came a sharp fall in the value of the rial, by 10% in two weeks, which threatens to undo the principal economic achievement of his first term—lowering inflation—and his plans to lower interest rates. Iran’s Central Bank had to increase interest rates last month to stop the fall of the rial. These are precarious times for Rouhani, who has won two elections promising economic revival.

Federal Reserve Chairman Jerome Powell gestures while he testifies to the House Financial Services Committee on Tuesday, Feb. 27, 2018. (AP Photo/Jacquelyn Martin)

AP Photo/Jacquelyn Martin

Analysis & Opinions - Project Syndicate

The Fed Should Be Careful What It Wishes For

| Feb. 28, 2018

Empirical relationships in economics are sufficiently fragile that there is even a “law” about their failure. As British economist Charles Goodhart explained in the 1980s, “any observed statistical regularity will tend to collapse once pressure is placed upon it for control purposes.” Central banks in advanced economies have recently been providing a few more case studies confirming Goodhart’s Law, as they struggle to fulfill their promises to raise inflation to the stable plateau of their numerical targets.

Exterior of a Wells Fargo bank location in Philadelphia on Friday, August 11, 2017. (AP Photo/Matt Rourke)

AP Photo/Matt Rourke

Analysis & Opinions - The Washington Post

Wells Fargo’s Board Members are Getting Off Too Easy

| Feb. 06, 2018

A question I am asked as frequently as any other is: “Why didn’t anyone go to jail for the financial crisis?” There was huge suffering, sufficient misbehavior that the largest banks had to pay well over $100 billion in fines, and in the past, people had gone to jail for financial shenanigans during the Depression and the S&L crisis. People are usually indignant as they ask the question.

Symbolic pipes with a sign that reads "Turkmenistan—China" on exhibit at the Bagtyyarlyk natural gas field, Turkmenistan, Aug. 29, 2007.

AP / Alexander Vershinin

Analysis & Opinions - World Politics Review

In the Race for Central Asia’s Gas, China’s Rise Comes at Russia’s Expense

| Jan. 26, 2018

Last week, Kazakhstan’s president, Nursultan Nazarbayev, became the first Central Asian head of state to visit President Donald Trump in the White House, in a likely effort to shore up ties. In an email interview, Morena Skalamera, an associate at the Geopolitics of Energy Project at Harvard’s Belfer Center, examines the competition over Central Asia’s gas resources and its geopolitical consequences. 

Pigeons fly in front of the Euro sculpture at the old European Central Bank building in Frankfurt, Germany, on Thursday, Nov. 10, 2016. (AP Photo/Michael Probst)

AP Photo/Michael Probst

Analysis & Opinions - Project Syndicate

Monetary-Policy Normalization in Europe in 2018

| Dec. 22, 2017

When the European Central Bank’s Governing Council met on December 14, there was little to surprise financial markets, because no policy changes could be gleaned from public remarks. The previous meeting, in late October, had already set the stage for the normalization of monetary policy, with the announcement that the ECB would halve its monthly asset purchases, from €60 billion ($71 billion) to €30 billion, beginning in January 2018.

Tokyo at night

Flickr / Agustin Rafael Reyes

Paper - London School of Economics

Global Review of Finance For Sustainable Urban Infrastructure

  • Graham Floater
  • Dan Dowling
  • Denise Chan
  • Matthew Ulterino
  • Tim McMinn
  • Ehtisham Ahmad
| December 2017

This paper is a background review representing part of the initial phase of the Financing the Urban Transition work program. The review builds on a growing body of research that highlights both the importance of national sustainable infrastructure and the need to develop more effective and efficient financing mechanisms for delivering compact, connected cities that meet the UN’s Sustainable Development Goals. While progress has been made in both these areas over the last five years, there remains a policy gap between the international/national level and the municipal level.