The most popular and thought-provoking posts on Finance21
The challenge for policymakers is to build rules that function amid disagreement in a divided world. Dennis Snower discusses how COP30 can turn climate goals into trade rules
Rewiring trade for a warming world Read More »
In 2025 the US government underwent a large fiscal switch. Kimberly Clausing and Maurice Obstfeld evaluate tariffs as a broad tool of fiscal policy, reviewing both tax policy and macroeconomic considerations, and concludes that this fiscal switch will leave most Americans worse off
President Trump’s tariffs as fiscal folly Read More »
Stress testing is vital for supervising the safety and soundness of the largest banks and preserving the stability of the financial system. Michael Barr has concerns over changes to the stress test system being considered by the Fed
Preserving the dynamism and credibility of stress testing Read More »
The EU is engaged in an unprecedented struggle for independence, values and democracy in a world shaped by the re-emergence of imperial ambitions. Simone Tagliapietra says Ursula von der Leyen is right to say Europe is in a ‘fight’ around competitiveness and values, but it may lack the right pugilistic attitude
Europe’s fight should begin with the struggle against hesitation Read More »
Rule of law is not the enemy of autonomy; it is its foundation. Christine Lagarde says the EU can pursue its policy choices because they are framed by legal commitments that others recognise and respect
Building European autonomy: cooperation and the rule of law Read More »
The US administration’s approach to financial markets mixes deregulatory policies with a range of other policies that are largely without precedent. Gary Gensler, Lev Menand and Joshua Younger catalogue the relevant policy shifts and consider how these shifts may impact financial stability, capital markets, and the global dollar system
The financial sector and global dollar system Read More »
The world is drifting toward a fragmented trade environment defined by subsidies, retaliation and industrial duplication. Jianwei Xu discusses how the world is moving into a period of entrenched manufacturing overcapacity, threatening deflation and stagnant growth
How is innovation competition exacerbating global overcapacity? Read More »
US trade deficits will have to be reduced to prevent a crisis down the road. Vijay Joshi and David Vines argue that fiscal consolidation, in association with a weaker dollar, appears to be the right way for the US to improve its trade balance
How Trump should have tackled the trade deficit Read More »
Periods of deregulatory zeal preceded all three of the most infamous financial meltdowns over the past century. Michael Barr sounds the alarm about the potential impact of Washington’s push to massively deregulate America’s financial sector
Booms and busts and the regulatory cycle Read More »
The EU and India both rank among the world’s five largest economies. Ignacio García Bercero and André Sapir offer a broad perspective on the EU-India trade relationship and argue the time is right to make a European Union-India trade deal happen
The time is right to make a European Union-India trade deal happen Read More »
