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RealTime Economic Issues Watch Greece Should Ponder the Benefits of Devaluation
Simeon Djankov — February 27, 2015
Standard economic theory suggests that currency devaluation is a significant boon for export competitiveness and economic growth after a crisis. Although a direct devaluation is not available to Greece as a member of the euro area, the government in Athens should be considering other paths to tha ...

RealTime Economic Issues Watch PIIE Chart: Labor's Waning Share in Manufacturing
Robert Z. Lawrence — February 27, 2015
This chart shows that manufacturing has been transformed from a sector with a high labor income share into a sector in which labor accounts for less income than in the economy overall. Since 2000, labor's share of the economy has fallen below its long term average. The chart reveals that the ...

Op-ed Ukraine Can Stabilize the Hryvnia
Anders Aslund — February 27, 2015
Ukraine has been hit by currency panic, but substantial funding could at hand soon. The International Monetary Fund has announced its intention to decide on the Ukraine program at an executive board meeting on March 11.

North Korea: Witness to Transformation Slave to the Blog: The Police and Thieves Edition
Marcus Noland — February 27, 2015
Junior Murvin reportedly was horrified when he first heard the Clash’s desecration of his song “Police and Thieves,” exclaiming something about the wrath of Jah. Then the royalty checks started rolling in. Today’s blog post addresses three confrontations with the law, followed of course by not one, ...

RealTime Economic Issues Watch Labor's Declining Share in Manufacturing
Robert Z. Lawrence — February 26, 2015
The slowdown in the growth of US wages in recent years is the result of many factors. Among them is the fact that in the last 15 years, the share of labor compensation as a portion of US total income has fallen below its normal cyclical variation. Before the turn of the century, the long-run shar ...

Working Paper 15-1 The Economic Scope and Future of US-India Labor Migration Issues [pdf]
Jacob Funk Kirkegaard — February 26, 2015
Jacob Funk Kirkegaard analyzes the impact of potential US immigration reform on US-India bilateral migration. He commends legislative efforts to ease access for Indian individuals to the US labor market but notes that these reform efforts also might make it harder for some Indian high-tech firms' current business models to operate in US markets.

Policy Brief 15-3 Japanese Investment in the United States: Superior Performance, Increasing Integration [pdf]
Theodore H. Moran and Lindsay Oldenski — February 25, 2015
Theodore H. Moran and Lindsay Oldenski analyze the recent reemergence of Japan as the most important source of foreign direct investment in the United States and recommend that US policy should focus on reinforcing and expanding the factors that attract high-performing firms and high-value production stages to the United States.

Op-ed Russia in Free Fall
Anders Aslund — February 25, 2015
Russia is not likely to return to economic growth until it abandons its war of aggression in Ukraine.

RealTime Economic Issues Watch A Greek Deal and What It Means
Jacob Funk Kirkegaard — February 25, 2015
Greece and the Eurogroup have struck a deal designed to avoid another economic meltdown and even return Greece to economic growth. An additional four months have been added to an earl ...

Paper Debt Sustainability and Economic Convergence of Euro Area Member States: Challenges and Solutions [pdf]
Paolo Mauro — February 25, 2015
In a paper requested by the European Parliament's Economic and Monetary Affairs committee, Paolo Mauro puts forward proposals aimed at fostering economic convergence in the euro area while ensuring debt sustainability for member states.

RealTime Economic Issues Watch Greece's Reprieve: In Praise of Kicking the Can Down the Road
Paolo Mauro — February 24, 2015
The melodrama in Greece has produced demands that Athens and its European partners take decisive action to fix a complicated situation once and for all. In fact, kicking the can down the road—as the players did recently to avert a financial crisis—is an underrated and long-standing ...

Trade and Investment Policy Watch Can the United States Deter Commercial Cyberespionage?
Gary Clyde Hufbauer and Euijin Jung — February 24, 2015
Military espionage has proven to be an enduring feature of the nation-state system. Cyberspace added a new dimension to a very old craft without changing its essential nature. The United States and most advanced countries sharply distinguish between military cyberespionage on the one hand and commercial cyberespionage on the other.

RealTime Economic Issues Watch Greece Must Stop Grandstanding and Start Governing
Angel Ubide — February 24, 2015
Greece's last-minute agreement with the Eurogroup on Febuary 20 averted a potential major financial disaster. The Greek government was days from running out of money to pay the bills. B ...

RealTime Economic Issues Watch How Greece's Creditors Can Encourage Its Return to Stability
Avinash Persaud — February 24, 2015
Now that over 75 percent of Greece's debt has been transferred from private banks to the official sector backed by European taxpayers—there is a novel solution to the Greek tragedy that would satisfy the interests of borrowers as well as creditors. This solution could also temper unhelpful ...

Op-ed Free Trade Makes Cancer Drugs Cheaper
Caroline Freund — February 23, 2015
The process of using generic substitutes for expensive prescription drugs can be speeded up, saving US consumers billions of dollars a year. This opportunity comes from an unusual source: the negotiations for the Trans-Pacific Partnership treaty.


An Economic Tragedy in Six Charts
Greece's descent into its difficulties is narrated and visualized through six charts. They focus on the severity of the economic downturn, reduced government spending, the increase in public debt and how Greek debt has changed hands from the private sector to European taxpayers.



Nathan Sheets

Perspective on the Global Economy

Nathan Sheets, US Treasury Under Secretary for International Affairs, provides his views on the global economy, following his return from the meeting of the G-20 Finance Ministerial.

Susan Lund

Assessment of the Global State of Debt and Deleveraging

Susan Lund, McKinsey Global Institute, presents MGI's latest report, Debt and (Not Much) Deleveraging, which focuses on ways to avoid credit boom-bust cycles and policy tools to manage high debt.

LU Mai

Toward a US-China Bilateral Investment Treaty

LU Mai, China Development Research Foundation (CDRF), presents the keynote address at a conference presenting Institute and CDRF research on a US-China bilateral investment treaty.

Barbara Kotschwar

Next Steps in US-Cuba Economic Relations

Barbara Kotschwar, Gary Clyde Hufbauer, and Augusto de la Torre provide their insights on key issues facing the Cuban economy as US-Cuba economic relations evolve.


Peterson Institute for International Economics Announces New Funding Disclosure Steps [pdf]

A document posted in 2014 gives our Statement of Principles, Facts about Our Funding, and charts and lists indicating funding sources and amounts in 2013, 2012, 2011, and 2010.


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