Maurice Obstfeld
The risks and returns of ever-expanding swap and repo lines
Increase in central bank swap agreements and repo facilities should help to counter future liquidity squeezes. But the proliferation is fraught with political risk
Argentina to reform exchange rate regime and buy more FX
From January, currency band will widen by an amount equivalent to monthly inflation rate
US Treasury buys Argentine pesos in currency market
First FX intervention since 2011 comes as Washington announces $20bn swap line with BCRA
A fractured monetary system
US policy is encouraging a transition away from a dollar-led, rules-based order
Banknotes: January to March 2024
A round-up of news and salient issues that have affected central bankers in the past three months
Obstfeld argues central banks’ rate models are ‘conceptually flawed’
Former IMF chief economist says rates could soon return to the effective lower bound
ERM’s 1992 crisis offers lessons for today, academics say
Barry Eichengreen, Maurice Obstfeld and Richard Portes discussed “accident waiting to happen”
The risks of a simultaneous and rapid global tightening
Economists call for a more co-ordinated and gradual increase in interest rates
IMF calls for fiscal consolidation in anticipation of next crisis
As global financial conditions tighten, emerging economies record higher corporate and sovereign debt
IMF warns of global risks from US fiscal expansion
Faster policy tightening by Fed could harm emerging economies, Obstfeld says
People: Maurice Obstfeld to retire from IMF in December
Macau reappoints monetary authority chairman to one-year term
IMF chief economist warns against ‘complacency’
Recent economic upturn should not be viewed as “new normal”, Obstfeld says, arguing policymakers should be looking to shore up defences
IMF’s Obstfeld: effects of accommodative policy remain unclear
The IMF chief economist weighs up the productivity puzzle and whether monetary policy helped or hindered growth following the financial crisis
IMF: global recovery is broad but incomplete
Fund ups its growth forecasts but says many are missing out; Maurice Obstfeld urges policymakers to take action while “times are good”