NAFTA at the Crossroads

NAFTA at the Crossroads

The U.S. Senate voted to confirm Robert Lighthizer as United States Trade Representative last week, rounding out President Donald Trump’s cabinet and giving momentum to his trade agenda. At his swearing-in ceremony on May 15, Ambassador Lighthizer predicted that President Trump would permanently reverse “the dangerous trajectory of American trade,” and in turn make “U.S. […]

Will China Save the World?

Will China Save the World?

The Chinese leader Xi Jinping advocates globalization, which may increasingly aid the long-term development of the world economy. The US president Donald Trump does not serve globalization or even hinders the development of the world economy. Maybe some of his actions will revive the US economy in the short run, but they are harmful to […]

The Post-Referendum Turkish Economy: How to Write the New Chapter

The Post-Referendum Turkish Economy: How to Write the New Chapter

Turkey has left its constitutional referendum behind, along with the associated political uncertainties. In fact, not only the referendum but also certain earlier developments including the parliamentary elections in 2015 and the failed coup attempt in 2016 caused the country to deal with uncertainties for a considerable period of time. As a result, the governments […]

Widespread Scalping Is a Sign of Poor Revenue Management by Event Organizers

Widespread Scalping Is a Sign of Poor Revenue Management by Event Organizers

photo: jiejun tan Widespread scalping is a sign of poor revenue management by event organizers Reselling of concert and event tickets at a price above their face value, also known as scalping, has been a recurring topic of discussion by the general public as well as among economists. Several artists such as Adele have been fighting […]

Iran Struggles to Sustain its Economic Recovery

Iran Struggles to Sustain its Economic Recovery

photo: s1ingshot Introduction. On the eve of the Iranian presidential election in May, Iranian President Rouhani has much to feel good about. Thanks to his tireless efforts, Iran’s economy has moved from a recession in 2015/2016 to 7.4% GDP growth in the first half of 2016/2017. But U.S. President Trump’s opposition to the nuclear agreement could […]

The Mist of Central Bank Balance Sheets

The Mist of Central Bank Balance Sheets

Central banks of large advanced and many emerging market economies have recently gone through a period of extraordinary expansion of balance sheets and are all now possibly facing a transition to less abnormal times. However, the fact that one group is comprised by global reserve issuers and the other by bystanders receiving impacts of the […]

What Is Pushing the Oil Prices Down?

What Is Pushing the Oil Prices Down?

photo: Ryan Lackey A new pricing consensus has emerged on the global oil market, spurred by financial and intrinsic factors. The fall in prices for ‘black gold’ has been a key shift in the global oil market in recent years. If, in 2014, the average annual price of a barrel of Brent cost $99, then in […]

What Happened to the GDP Data of Turkey?

What Happened to the GDP Data of Turkey?

The National Accounts of Turkey have been recently revised by the Turkish Statistical Institute, resulting in remarkable updates on the Gross Domestic Product (GDP) series. Based on this revision, the Turkish economy seems to have painted a rosy picture in the post-crisis period until 2015. While the real GDP growth rate has become 7.4 percent […]

Do Country Ties of Credit Rating Agencies Matter in the Sovereign Rating Process?

Do Country Ties of Credit Rating Agencies Matter in the Sovereign Rating Process?

Worse ratings by U.S. rating agencies for European sovereigns no argument for European rating agency The predominant Credit Rating Agencies (CRAs) Moody’s Investor Services (Moody’s), Standard and Poor’s (S&P), and Fitch Ratings (Fitch) have been criticized by leading European politicians for taking an anti-European perspective during the European sovereign debt crisis. At the same time, […]

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