The new global balance - January 23rd, 2009. The return of the “home bias” is one of several factors that is set to put pressure on rates and currencies of debtor countries in 2009.
Uncharted Depths - April 13th, 2009. A summary of the global policy measures of the past quarter in four key areas: the historic monetary policy, the US and Chinese fiscal stimulus, the IMF's new facilities and the attempts to clean banks' balance sheets.
Inflated Fears - April 17th, 2009. Why low inflation is the most likely outcome for the next few years.
Advanced emerging markets - A reassessment of an asset class - Nov 12th, 2009. Global investors should take notice. Driven by the China engine, "economic" Sharpe ratios in EM are likely to improve further relative to the lagging G4. And, as usual when facing a regime change, historical data will capture only imperfectly the nature of the top EM performers.
Run inflation run - March 12th, 2010. Central bankers, especially the Fed and the BoE, are likely to tolerate higher inflation in coming years. There are many benefits of higher inflation.
Global Imbalances - Analyzing External Imbalances presentation - IMF Feb 2012. How the burst of the global housing bubble did not imply a large correction of global imbalances or a rise in real interest rates
Uncharted Depths - April 13th, 2009. A summary of the global policy measures of the past quarter in four key areas: the historic monetary policy, the US and Chinese fiscal stimulus, the IMF's new facilities and the attempts to clean banks' balance sheets.
Inflated Fears - April 17th, 2009. Why low inflation is the most likely outcome for the next few years.
Advanced emerging markets - A reassessment of an asset class - Nov 12th, 2009. Global investors should take notice. Driven by the China engine, "economic" Sharpe ratios in EM are likely to improve further relative to the lagging G4. And, as usual when facing a regime change, historical data will capture only imperfectly the nature of the top EM performers.
Run inflation run - March 12th, 2010. Central bankers, especially the Fed and the BoE, are likely to tolerate higher inflation in coming years. There are many benefits of higher inflation.
Global Imbalances - Analyzing External Imbalances presentation - IMF Feb 2012. How the burst of the global housing bubble did not imply a large correction of global imbalances or a rise in real interest rates