Robert Kahn

Macro and Markets

Robert Kahn analyzes economic policies for an integrated world.

A Paris Club for Europe: Time to Deal With the Debt Overhang

by Robert Kahn Monday, November 26, 2012
A transparent framework for official sector involvement would be a significant step toward resolving the European debt crisis (Sivi Steys/courtesy Flickr). A transparent framework for official sector involvement would be a significant step toward resolving the European debt crisis (Sivi Steys/courtesy Flickr).

The current debate over how to finance Greece has again put the spotlight on the unsustainable buildup of sovereign debt in the periphery and led to calls for a comprehensive strategy for official sector involvement (OSI).   Until now, creditor countries have resisted OSI, establishing “red lines” that lead them to ad hoc and temporary efforts to reduce debt levels and fill financing gaps. These efforts buy time, but don’t address fundamental concerns about debt sustainability, build market confidence, or maintain public support for painful austerity. Read more »

Why Another Global Economics Blog?

by Robert Kahn Monday, November 26, 2012

My intent in starting this blog is to look at how macroeconomic policies are set in a complex and interdependent global economy, and how market forces constrain or reinforce those policies.  We will look at policies in both industrial and emerging market economies, though in the current environment we will pay special attention to the policy challenges and key risks to an already fragile outlook coming from Europe and the United States.

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