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  • News & article

    Let the WTO referee carbon border taxes

    Oped, Jeffrey Frankel, Published on 08/12/2022

    » Perhaps the most important task confronting the international order is the enforcement of national limits on greenhouse-gas emissions, such as those that were negotiated in the 2015 Paris agreement. Carbon border adjustments could give these limits teeth, but fair application requires a revived World Trade Organization.

  • News & article

    The secret of the greenback's appreciation

    News, Jeffrey Frankel, Published on 24/09/2022

    » Despite rampant inflation and slowing growth, the US dollar keeps going from strength to strength. Since May last year, the greenback has risen by 28% against the yen and 20% against the pound. In addition, it has appreciated 19% against the euro, reaching parity for the first time since 2002.

  • News & article

    Get ready for 'reverse currency wars' phenomenon

    News, Jeffrey Frankel, Published on 06/06/2022

    » The US dollar is up 12% against the euro over the past year and, at €0.93 (34.22 baht), is approaching parity. If prices of oil and other commodities now seem high in dollar terms, they look even higher in euros. With the greenback surging, and inflation in many countries currently at multi-decade highs, we may be entering so-called "reverse currency wars" -- in which countries compete to strengthen their currencies' foreign-exchange values.

  • News & article

    El Salvador's Bitcoin bet is a dangerous folly

    News, Jeffrey Frankel, Published on 30/09/2021

    » El Salvador this month became the first country to adopt a cryptocurrency -- in this case, Bitcoin -- as legal tender. I say the first, because others might follow. But they should think twice, because the idea is highly dubious -- and likely to be economically dangerous for developing countries in particular.

  • News & article

    The G20's coronavirus agenda

    Oped, Jeffrey Frankel, Published on 27/08/2021

    » Finance ministers, central bank governors, and political leaders are hard at work preparing for the 2021 G20 Heads of State and Government Summit in Rome on Oct 30-31. With the Covid-19 pandemic stretching well into its second year, the meeting will come at a time of heightened uncertainty about public health and the global economy. And though the mechanisms of international cooperation have been weakened by the pandemic and remain bruised by former US President Donald Trump's legacy, they are more important than ever.

  • News & article

    Terms which misdefined 2020

    Oped, Jeffrey Frankel, Published on 01/01/2021

    » US President Donald Trump and the Covid-19 pandemic dominated the news headlines in 2020. Three terms, in particular, came to symbolise the year: "witch hunt", "black swan" and "exponential".

  • News & article

    The connection between Covid-19 and climate

    Oped, Jeffrey Frankel, Published on 02/10/2020

    » From early on in the Covid-19 pandemic, a common refrain has been, "At least maybe now we will get serious about addressing climate change." One can certainly see the logic behind this thinking. The terrible toll the pandemic has taken should remind us of the importance of three things that are also necessary to tackle global warming: science, public policy, and international cooperation.

  • News & article

    So what exactly's in a recession?

    Oped, Jeffrey Frankel, Published on 26/06/2020

    » On June 8, the Business Cycle Dating Committee of the National Bureau of Economic Research declared that economic activity in the United States had peaked in February 2020, formally marking the start of a recession. But we already knew that we were in a recession that had likely begun around that date. So, why does the NBER's formal declaration matter?

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