Follow the Money

Brad Setser tracks cross-border flows, with a bit of macroeconomics thrown in.

Latest Post

The Global Cost of the Eurozone’s 2012 Fiscal Coordination Failure

The Banque de France has an interest little article in its summer report. The Banque de France argues that the eurozone collectively did too much fiscal consolidation—e.g. austerity; budget cuts and tax increases—between 2011 and 2013.   And way too much fiscal consolidation in 2012: Read More

September 13, 2017

South Korea
Weak Won, Tight Fiscal: Korea's Not-So Mysterious External Surplus

Korea's macroeconomic policies have had a greater impact on its pattern of trade than any free trade agreement.

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September 11, 2017

A Few Words on the Dollar

Keep an eye on the return of Asian intervention

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September 5, 2017

Looking Back at the Impact of Real Exchange Rate Moves on Exports

G-3 exchange rate moves over the past four years have had expected impacts on trade flows

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