Tariffs and US dollar depreciations: Not so surprising after all
To many, the US dollar depreciation following the ‘Liberation Day’ tariff announcement on 2 April 2025 defied conventional wisdom. However, open-macro models predict that the
How Donald Trump should have tackled the US trade deficit
The US trade deficits will have to be reduced materially to prevent a crisis down the road. This column argues that fiscal consolidation, in association
