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Follow the Money

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

Latest Post

On Designating China as a Currency Manipulator…

Trump’s designation of China as a currency manipulator has triggered a lot of good reporting about China’s current system of currency management, and the legal meaning of a designation. Read More

August 12, 2019

United States
$500 Billion in Dividends out of the Double Irish with a Dutch twist (with a bit of Help from Bermuda) $500 Billion in Dividends out of the Double Irish with a Dutch twist (with a bit of Help from Bermuda)

Tax is often the biggest factor in the balance of payments. U.S. firms operating in Bermuda paid $229 billion in dividends back to their U.S. parents in 2018. That’s more than the United States earned from exporting to China before the trade war, and more than Boeing and GE generated by exporting aircraft and their engines even before the new 737 was grounded.

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July 30, 2019

Economics
Summer Holiday

I am taking a few days off—

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July 24, 2019

International Economic Policy
The IMF (Still) Cannot Quit Fiscal Consolidation…

The IMF's country-level fiscal advice has an adding up problem. The IMF (over time) wants most countries to match the euro zone and head toward fiscal balance. That though would leave the world short of demand. (Wonkish)

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