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Macroeconomics

Background reading to expand your understanding of the daily business and economics news.
By Jon Fernquest
Central Banking and the Great Moderation (Brad DeLong)

Better long-term central bank governance has led to better economies in the long-run

Private Investment Indicators (BOI)

Economic statistics, and business information at the Board of Investment

Chalongphob at the World Economic Forum (25-06-07)

There are bubbles everywhere...It is no longer a matter of the US spending less, but of “vicious unknowns,” and it will be difficult to see how they will play out in the market because the linkages now are more complex than before. Emerging markets must have shock absorbers.

Brad DeLong: The Secret Language of Central Bankers (06-03-07)

Should central bankers try harder to be understood?

The Monetary Economics of China (Brad DeLong, 27-03-07)

Brad DeLong does some calculations to find out where China's massive trade surplus goes.

Asian Development Outlook 2007

Factors that will affect growth in Asia over the next year.

Development economics in 3 minutes

In a video podcast Brad DeLong reviews the main points of development economics in a record three minutes.

Accounting for Growth: Comparing China and India (Bosworth and Collins, Feb 2007)

A new paper on how China and India have differed in their past growth and the different problems they face for future growth.

Bangkok Post Economic Review (2006 Year End)

Biannual review of developments in the Thai economy.

Why are poor countries financing the rich?

Youngest IMF chief economist Raghu Rajan discusses global imbalances in savings, investments and economic growth.

Understanding Thai Monetary Policy

Background on recent Thai monetary policy

Monetary policy in Asia: approaches and implementation

Background on the strategies followed by central banks and monetary authorities in Asia.

Capital Controls: Country Experiences with Their Use and Liberalization (IMF)

History of capital controls in Thailand, Malaysia, Brazil, Chile, and Colombia.

Burma Economic Watch (Sean Turnell)

Dr. Sean Turnell is probably the foremost expert on the contemporary economy of Burma.

Demographic dividend's from stronger financial institutions

How long-term demographic changes and improved financial institutions can be harnessed in a country's development.

What Do Capital Inflows Do? Dissecting the Transmission Mechanism for Thailand, 1980–96

History of capital inflows into Thailand before 1997.

Massive capital inflows into the United States (Brad DeLong)

Why does capital flow from developing countries into the United States?

Will there be a dollar crisis? (Paul Krugman)

Will there be an abrupt fall in the dollar – a dollar plunge?

Inflationgate: More evidence of why central bank independence is important (The Economist)

How US president Richard Nixon pressured his central bank president into an expansionary monetary policy to get low unemployment for an election year but also uncontrollable inflation.

OECD Economic Outlook, November 2006

The US economy is running out of steam but Europe's resurgence and Asia's awakening will prevent the world's economy from derailing as it did after the stock market crash of 2000.

Financial Globalisation (The Economist)

How can financial globalisation benefit a developing country?

Why is central bank independence important?

An easy to understand explanation from the Czech Central bank.

The US as a Net Debtor:
The Sustainability of the US External Imbalances

The ongoing American trade deficit and its possible effects.

Foreign Exchange Review (Kasikorn Research)

A weekly review of exchange rate movements around the world.

Gold (Economist Backgrounder)

The original source of confidence in a currency.

Central bank independence

Advocates of central bank independence argue that a central bank which is too susceptible to political direction or pressure may encourage economic cycles of boom and bust.


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