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Mobilizing Clean Energy Financing through the Multilateral Development Banks
A new paper published by the MIT Center for Energy and Environmental Policy Research (CEEPR) puts forward an ambitious agenda for innovation in clean energy finance. Read More
Estimating Future Interest Income From Russia’s Frozen Reserves
Outright seizure of the Russian Central Bank’s hundreds of billions in frozen assets is currently off the table, but it is still possible to obtain large sums for Ukraine from the interest income on these assets.
Power and Financial Interdependence
My new paper for the Geoeconomics and Geofinance Initiative of the Institute Français des Relations Internationals’ (IFRI) explores the history of the Sino-American financial relationship.
The Japanese Bid for Foreign Bonds After the End of Yield Curve Control
The Bank of Japan (BoJ) is widely expected to end yield curve control. But Japanese yields will remain low, and foreign bonds will remain attractive to those Japanese investors who don’t have to hedge.
China’s Record Manufacturing Surplus
The U.S. likes talking about the dominance of the dollar. But don’t short-change China’s current dominance of manufacturing trade. Trade imbalances need to be taken seriously again.
The IMF Needs to Focus on Setting Good Targets for External Debt Sustainability
The IMF has two frameworks for assessing debt sustainability. The market access country framework is more technically advanced, but it isn't delivering reasonable targets for debt restructuring cases. Sri Lanka is a case in point.
China’s New Currency Playbook
China’s pivot to a new strategy of indirect intervention through its large state banks requires new approaches to policing currency policies by both the U.S. Treasury and IMF.
Mobilizing Russia’s Immobilized Reserves
A quick note on the debate over the use of Russia’s frozen reserves.
An SDR-Linked Bond Can Strengthen the Finances of the World Bank Group
SDR-denominated bonds have the potential to significantly strengthen the balance sheet of both the IBRD (The World Bank) and IDA, freeing up cash and helping both institutions deliver on their mandate to foster development.
How the U.S. and EU Could Harmonize Their Approaches to Trade in EVs and Steel
Despite sharing broadly similar policy goals, the U.S. and EU are currently struggling to find common approaches to trade in green goods. New ideas are needed.
