Economy

Will Crashing Oil Prices Put American Energy in Its Coffin?

2020 Apr 26

The fundamental reason is that the coronavirus pandemic has suddenly reduced demand by around 30 percent because we are not driving cars, not going to work, not manufacturing things in most factories, here and in much of the world.

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The Human-Capital Costs of the Crisis

2020 Apr 16

Unlike a hurricane or earthquake, the coronavirus pandemic has caused no damage to physical capital stock. But firm-specific skills have no value when the firm that uses them goes out of business, which is one reason why US productivity...

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Will the OPEC Agreement Work and, If So, How Long Will It Last?

2020 Apr 16

The market appears to doubt that the deal will suffice, and royal family dynamics could push the oil crisis into further rounds.

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Navigating the Pandemic Trilemma

2020 Apr 07

The broad consensus of the COVID-19 era holds that measures to protect public health imply hard trade-offs with economic growth and political liberty.

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Capitalism’s Triple Crisis

2020 Apr 05

After the 2008 financial crisis, we learned the hard way what happens when governments flood the economy with unconditional liquidity, rather than laying the foundation for a sustainable and inclusive recovery. Now that an even more severe crisis is under

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Coronavirus: Lebanon banks halt dollar withdrawals after pandemic closes airport

2020 Apr 01

US currency is imported into the country but Beiruts international airport is to remain closed until at least 12 April

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The Race Between Economics and COVID-19

2020 Mar 28

For years, the economics profession has suffered from a stubborn reluctance to adopt a more multidisciplinary approach. But now that the COVID-19

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Don’t Count Out U.S. Oil Production as a Market-Shaper

2020 Mar 22

Total U.S. production from all sources will remain the worlds largest no matter how low prices go, leaving Washington (and Texas) with considerable room to help domestic companies and press Riyadh and Moscow on stabilizing prices.

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The COVID-19 Cash Out

2020 Mar 22

While Chinese authorities have been destroying banknotes that have potentially come into contact with the coronavirus, Western countries remain woefully behind not just in their response to the pandemic

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Averting Economic Disaster Is the Easy Part

2020 Mar 22

Based on Chinas experience with COVID-19, the fiscal cost of comprehensive compensation for lost income could reach 10% of annual GDP, and as much as 25% of GDP in the US and Europe if the epidemic turns out to be worse there, which now looks likely. Thes

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Policy Action for a Healthy Global Economy

2020 Mar 18

The case for a coordinated and synchronized global fiscal stimulus is becoming stronger by the hour.

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The Wealth and Health of Nations

2020 Mar 16

The COVID-19 outbreaks implications for the global economy are highly uncertain but potentially disastrous.

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