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Global Economists »

Raghuram Rajan

One is that they intervene directly in markets, both domestic and across borders, to reduce competition and volatility while they rebuild their buffering capacity. Another is that they muzzle democracy to suppress public anger. A third is that they find scapegoats.

EMU 2.0?

Jean Pisani-Ferry

The new emphasis on national budgetary rules is a welcome development – but it is only a first step.

Bubble Spotting

Robert J. Shiller

A bubble forms when the contagion rate goes up for ideas that support a bubble. But contagion rates depend on patterns of thinking, which are difficult to judge.

Shahid Javed Burki

There have been indications of a gradual thaw. Senior officials from the ministries of commerce, defense, and foreign affairs will meet in the next two months followed by a meeting of the foreign ministers.

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