An international energy deal can have a very domestic purpose. During a discussion with my students at SKEMA Business School, Donald Trump’s announcement about Russian diesel prompted a…
NEW WORKING PAPER: Global current-account imbalances narrowed when the exceptional pandemic and energy-price shocks receded, then widened again in 2024–2025. This paper examines the implications for equilibrium exchange…
I am truly honored and happy to co-present, with Joshua Aizenman, one of the keynotes of the ADB–AMRO Conference on “Fiscal and Monetary Policies in Developing Economies for…
By Nathalie El-Bazzal and Jamel Saadaoui · 14 June 2026 Main point. The March 2025 arrest of Ekrem İmamoğlu is best classified as a domestic political shock with…
This post builds on Jeffry Frieden’s comment on geoeconomics in the NBER Macroeconomics Annual. Frieden’s central argument is that geoeconomic policy should not be analyzed as if states…
NEW WORKING PAPER: This paper asks why openness has been such a strong catalyst for catch-up growth in some regions or countries, while in others openness has been…
NEW PUBLICATION: This paper reviews recent advances in the measurement and macroeconomic assessment of geopolitical tensions. We first survey the growing set of quantitative indicators designed to capture…
Truly honored to have written a joint research with Russell Smyth, Joaquin Vespignani, Yitian Wang titled Critical Minerals in an Age of Geopolitical Rivalry: Stockpiling, Refining Constraints, and…
Truly honored to have written a joint research with Joshua Aizenman titled Openness and Comparative Advantages: Asian Successes and Failures. The paper will be presented by Joshua Aizenman…
NEW WORKING PAPER: This paper reviews recent advances in the measurement and macroeconomic assessment of geopolitical tensions. We first survey the growing set of quantitative indicators designed to…
The US has announced the toughest sanctions yet on Russian tankers. As stated by Reuters: “Many of those tankers have been used to ship oil to India and…
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