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  Retirement Savings

  This Squam Lake Working Paper discusses the problems associated with the shift from defined benefit pension plans to defined contribution plans and recommends measures that will improve the performance of the nation’s retirement saving system.

  Peter Orszag

  Peter R. Orszag, director of the White House Office of Management and Budget, discusses the actions taken by the Obama administration to address the economic crisis.

  Geo-Graphics

  Lender of Last Resort

  The U.S. and IMF bailout of Mexico in 1994 is often cited as a textbook example of a successful financial rescue. The economy stabilized allowing Mexico to pay back most of its loans in less than 2 years. In response to the current crisis the Fed took on the role of global dollar lender of last resort by lending to foreign, primarily European, central banks. These loans were paid back more quickly than Mexico’s.

  

  • Geo-Graphics: Fed Balance Sheet
  • Matthews, Sim: Fed Opens Swaps with South Korea, Brazil, Mexico

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  Commercial Paper

  After the disruptions of the Asset-Backed Commercial Paper crisis in August 2007 and the Lehman bankruptcy, the Fed created a commercial paper funding facility to restore liquidity. But the market for commercial paper has continued to shrink in 2009 straining financial intermediaries who have relied on the market for funding.

  • Geo-Graphics: Commercial Paper
  • FRB: Commercial Paper
  • Reuters: U.S. Commercial Paper

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  The Yuan

  Following China’s reforms in 2005, the Yuan appreciated by over 20% against the dollar. However, since July 2008, the Yuan has been stable against the dollar, leading to expectations that China's repeg will persist.

  • Geo-Graphics: The Yuan
  • Delaney, Christie: U.S. Assures ‘Concerned’ China It Will Shrink Deficit
  • Economist: China, America, and the Yuan

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  Expert Insight and Commentary

  Geoeconomics Working Papers

  Gross or Net International Financial Flows

  In this Center for Geoeconomic Studies Working Paper, Karen H. Johnson argues that gross financial flows, not net external imbalances, reveal which countries are most critical for global financial stability.

  

   

   

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  China's $1.5 Trillion Bet

  In this CGS Working Paper, Brad W. Setser and Arpana Pandey estimate the true scale of China's U.S. portfolio and examine how the pace of growth and composition of China's portfolio have evolved over time.

  

   

   

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  Op-Eds

  Dethrone King Bernanke and Court to Keep Recovery

  Amity Shlaes

  Bloomberg

   

   

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  A Bipartisan Blueprint for Immigration Reform

  Jeb Bush, Thomas F. McLarty III and Edward Alden

  Los Angeles Times

   

   

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  Reagan Recipe on Fed, Taxes Spells Path From Funk

  Amity Shlaes

  Bloomberg

   

   

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  Deal or No Deal?

  Amity Shlaes

  Time Magazine

   

   

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  Expert Briefs

  Trade and Climate Change

  The main U.S. bill on confronting climate change should adjust the way it proposes cushioning some vulnerable U.S. industries to avoid...

   

   

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  Can China Lift Japan Out of Recession?

  CFR International Affairs Fellow Brian P. Klein says that China's stimulus will not have a significant short-term impact on Japan's ailing...

   

   

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  Fight the Fire, then Redesign the Firehouse

  While some G-20 leaders want to map out a "New Deal for the Twenty-First Century," CFR's Stewart Patrick says they risk spawning a...

   

   

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  Davos, the Poor, and the Crash of '08

  CFR Senior Fellow Laurie Garrett says the recent Davos economic forum failed to provide any blue print for reconciling the financial crisis...

   

   

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  CGS Resources

  Experts

  CGS Fellows with an expertise in international finance.

  
  

  

  Roger M. Kubarych
  

  Henry Kaufman Adjunct Senior Fellow for International Economics and Finance

   

   

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  Brad W. Setser
  

  Fellow for Geoeconomics

   

   

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  Amity Shlaes
  

  Senior Fellow for Economic History

   

   

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  Benn Steil
  

  Senior Fellow and Director of International Economics

   

   

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  Council Special Reports

  

  The Canadian Oil Sands

  Michael A. Levi

  Council Special Report No. 47

  May 2009

   

   

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  Lessons of the Financial Crisis

  Benn Steil

  Council Special Report No. 45

  March 2009

   

   

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  Global Imbalances and the Financial Crisis

  Steven Dunaway

  Council Special Report No. 44

  March 2009

   

   

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  Sovereign Wealth and Sovereign Power

  Brad W. Setser

  Council Special Report No. 37

  September 2008

   

   

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  Global FDI Policy

  David M. Marchick and Matthew J. Slaughter

  Council Special Report No. 34

  June 2008

   

   

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  Geoeconomics Working Papers

  GCC Sovereign Funds

  In this CGS Working Paper, Brad W. Setser and Rachel Ziemba examine the impact of the fall in global equities on the Gulf's large funds and explore how various oil price scenarios could shape those funds' future growth.

  

   

   

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  Books

  

  Money, Markets, and Sovereignty

  Benn Steil and Manuel Hinds present a fascinating intellectual history of monetary nationalism from the ancient world to the present and explore why, in its modern incarnation, it represents the single greatest threat to globalization.

   

   

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  The Closing of the American Border

  Edward Alden goes behind the scenes to tell the story of the Bush administration's struggle to balance security and openness in the wake of the September 11, 2001, terrorist attacks.

   

   

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  Termites in the Trading System

  Jagdish Bhagwati argues preferential trade agreements are protectionist discriminatory, and put the world trading system at risk.

   

   

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  CGS Chart Books

  • CGS: Foreign Exchange Reserves in the BRICs
  • CGS: Economic Cycle

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  Squam Lake Papers

  Proposals on financial reform from 15 economists.

  • Credit Default Swaps
  • A Systemic Regulator
  • Regulatory Hybrid Securities

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  Why Fiscal Stimulus is Likely to Work by Antonio Fatás and Ilian Mihov

  Why Fiscal Stimulus is Unlikely to Work by Kevin A. Hassett

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  Launch this interactive.

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  CFR Events

  Audio, Video, Transcripts

  C. Peter McColough Series on International Economics: A New Foundation for Growth: Assessing the Economic Recovery and Future

  July 22, 2009, New York

  Peter R. Orszag, director of the White House Office of Management and Budget, discusses actions taken by the Obama administration in light...

   

   

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  U.S. Immigration Policy: Report of a CFR-Sponsored Independent Task Force

  July 8, 2009, Washington DC

  The Task Force on U.S. Immigration Policy argues that the failure to reform immigration laws and procedures threatens to harm America's...

   

   

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  Reflections on Economic Policy in a Time of Crisis

  June 12, 2009, New York

  National Economic Council Director Lawrence H. Summers speaks at CFR about economic policy during the financial crisis. This session was...

   

   

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  Reforming Global Finance: The Squam Lake Papers

  May 26, 2009, Washington D.C.

  Members of the Squam Lake Working Group on Financial Regulation, a collection of fifteen leading economists and academics, discuss their...

   

   

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  Blogs

  Blog -- Brad Setser: Follow the Money

  Bonus graph
  August 4, 2009

  All great things have to end
  August 4, 2009

  Turning on a Paradigm
  August 3, 2009

  China, new financial superpower …
  August 3, 2009

  How much do the major Sovereign Wealth Funds manage?
  August 2, 2009

  Still growing …
  August 1, 2009

  more

  Amity Shlaes: The Forgotten Man

  The Man Who Talked Back….
  May 11, 2009

  Ohanian lays it out….
  April 14, 2009

  Columbus Dispatch’s Torry
  April 5, 2009

  G-20: Those Who Cannot Remember Past Conferences….
  March 25, 2009

  Obama’s Transcendent Moment
  March 21, 2009

  more

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  Foreign Affairs

  Globalization in Retreat

  Roger C. Altman

   

   

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  Tamed Tigers, Distressed Dragon

  Brian P. Klein and Kenneth Neil Cukier

   

   

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  Africa’s Capitalist Revolution

  Ethan B. Kapstein

   

   

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  CGS Newsletter

  Subscribe to "This Month in Geoeconomics" newsletter.

  
  

  
  

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