Op-eds and SPEECHES, by Jeffrey Frankel 



"An Economy That Works for All Americans,” slides, Bipartisan Program for Newly Elected Members of Congress, Institute of Politics, December 7, 2016.

"What Will Happen When President Trump Takes Office?" The Guardian, November 11, 2016.  "Who is President Trump?"  P. Synd., Nov. 9, 2016. Extended as "What Will the Trump Presidency Look Like?" Nov. 12; or at Econbrowser Nov. 14. Revised for MRCBG, Nov. 20, 2016.

"Clinton Economics vs. Trump Economics” (word; pdf) written for Candidate Clinton’s Chance, an OMFIF report (London), released Oct. 28, 2016.

"Understanding the Global Slowdown," slides, pdf, Program on China Business Leadership and Innovation, HKS Executive Education and Cheung Kong School of Business (CKGSB),  September 14th, 2016

Comment on "Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications and Some Evidence,” by Olivier Blanchard, Jonathan Ostry, Atish R. Ghosh & Marcos Chamon, IFM, NBER Summer Institute, July 12, 2016

"Are Democrats Really Better for the Economy?"  Project Syndicate, June 22, 2016.  E.g., in Financial Advisor, June 2016.  Extended version, Econbrowser.

"Potential Output" (PDF), Outline of Introductory Comments, Bellagio Group, Banca d'Italia, January 2016.

"Overview of some recent activities in the NBER program in International Finance and Macroeconomics,"
 September 28, 2015.

Domestic Economy: The Middle Class Crunch” slides (pdf). Outline of remarks. Bipartisan Program for New Members of Congress, Dec.3, 2014, Institute of Politics, Harvard University.

"Trade, Inequality & the Election," The Clair Wilcox Lecture, Swarthmore College, Oct. 24, 2016. OutlineSlides (PDF).
"Brexit, Trump and Globalization's Have-nots," 
 Project Syndicate, July 14.  E.g., La Nacion, 7/15, Chosun Ilbo (in Korean) 7/24.
 "The Trans-Pacific Partnership," outline, Fox Hill Foreign Affairs series, Bethesda MD, Dec.29, 2015.

"Congress Should Approve TPP," Boston Globe.  Nov. 11, 2015.
"New and Improved Trade Agreements," Project Syndicate,  May 7, 2015.  "Revising International Trade Agreements," in World Finance, July 14. 
"America the Balanced,"
Project Syndicate, Oct. 20, 2014.    "Is the US Current Account Deficit Problem Over?"
Comments on  The Comprehensive Restructuring of the International Economic Accounts, Bureau of Economic Analysis, US Department of Commerce, BEA Advisory Committee, May 9, 2014.

Image result for international trade  

“Policies for Managing External Shocks in Commodity-Exporting Countries,” Conference on Current Account Sustainability:
Recent Methods and Policy Issues,
Inter-American Development Bank, April 18, 2017.  Powerpoint slides.
How Commodity Exporters Can Cope with Price Volatility: Four Proposals,” ppt pdf; Annual Meeting, Agricultural & Applied Economics Association, Boston, August 1, 2016.
“How to Cope with Volatile Commodity Export Prices: Four Proposals,” ppt, pdf; keynote, Natural Resources, Finance & Growth, Bank of Algeria, Algiers, May 28-29, 2016.  Ppt, pdf,  OCP, Casablanca, June 3, 2016.
"The Right Time to Reform Fuel Pricing,"
Project Syndicate, August 7, 2015.
"Why Are Commodity Prices Falling?" Project Syndicate, December 15.  "Commodity Prices: Down in Dollars, Up in Euros,"  VoxEU, Dec.24, 2014.
How to Cope with Volatile Commodity Export Prices: Four Proposals” (pdf),
Keynote Address, Commodity Prices and Macroeconomic PolicyConference of the Central Bank of Chile, Santiago, Oct. 23, organized by R.Caputo & R.Chang.

Course on Monetary Policy & Commodities, Study Center Gerzensee, Swiss National Bank, June 2014: Commodity Prices; NR Curse; Currency Policy.
"An Economic Perspective on the Natural Resource Curse  and Its Implications for a Developing Country,"
Day of Ecuador at Harvard: Breaking the Natural Resources Dependence, April 21, 2014.
Video of session on forecasting commodity prices, conference at the IMF Research Department, Washington, D.C., March 21, 2013.


"Fiscal Cyclicality in EM Countries," Macroeconomic Policy Seminar, Harvard Economics Dept., Oct.18, 2016.
"Fiscal Procyclicality" lecture, OCP Policy Center, Rabat, Morocco, June 1, 2016 ppt, pdf Video also on recent global economic developments, June 2.
"Rediscovering Fiscal Policy at the G-7," Project Syndicate, May 24, 2016.  E.g., "Nikkei Asia Review," May 25.   "Fiscal Education at the G-7," Econbrowser.
“Fiscal Procyclicality and Over-optimism in Official Forecasts,” keynote presentation, pdf; Conference on Fiscal Policy & the Macroeconomy, Johns Hopkins School of Advanced International Studies, Washington DC, May 13, 2016.  

“Fiscal Alchemy? An International Perspective,
ppt or pdf, Seminar on Macroeconomic Policy, Harvard Economics Department, April 28, 2015.
Fiscal Procyclicality and Over-optimism in Official Forecasts," presented at Korea University, May 23; Bank of Korea, May 26;.  SSE in Riga, June 30, 2014 with video.

"The Optimism Bias of Official Fiscal Forecasts in the Eurozone," Banca d'Italia seminar, Rome, 20 June, 2013.

"The Flawed Origins of Expansionary Austerity,"
Project Syndicate, May 2013. E
.g., Korea Herald, May 21.  Full: "On Whose Research is the Case for Austerity Mistakenly Based?" May 20, 2013.

Some recent lectures on fiscal cyclicality:  
"Austerity vs. Stimulus: The U.S. Fiscal Policy Debate," REAI International Advisory Board, May 2013. "Austerity vs. Stimulus," Apr.2013; "US Fiscal Problems,"Appendices, Feb.2013, SEF Executive Program, HKS.      "Fiscal Problems," CEO/WPO Presidents’ Seminar, Harvard Business School, Jan.29, 2013;  With appendices.       Europe, You’re Down: Cyclicality and Sovereign Debt,” REAI Int.Adv.Board, Harvard Faculty Club, Nov.2012.

"Four Magic Tricks for Aspiring Fiscal Conservatives," blog, Oct. 29, 2012.

"The Procyclicalists: Fiscal Austerity vs. Stimulus," VoxEU, Aug.7, 2012

Question from The International Economy, 26, no.4, Fall 2012: "What One Change in Economic Policy Do We Need?."
"The First World's Fiscal Follies,"
Project Syndicate, July 19, 2012.   Or "How the First World got its Keynesian Policies All Wrong," Korea Herald, July 22.
 Part I: The Procyclicalists: Fiscal Austerity vs. Stimulus.   Part II. Procyclicalists Across the Atlantic Too."Economic & Fiscal Outlook,"  Oct.22, 2012,

"Austerity v. Stimulus," REAI Advisory Board, Apr.2014. Senior Executive Fellows, HKS: "Fiscal Policy: Austerity vs. Stimulus," April 2014.   "Austerity vs. Stimulus," Apr.2013.  "Back to School on the Budget: History & Arithmetic," 2012; 2011.



“Recent developments in China’s economy, stock market & foreign exchange market,” Outline, China Economy session, Asia Business Conference, Harvard Business School, Feb.28 2016.
"China's  Stock-Market Red Herring,"  Project Syndicate January 19, 2016.    "China's Slowdown,"  VoxEU , Jan. 27, 2016.
"The Global Economy in the 21st Century," powerpt slides; Conference celebrating the 40th anniversary of Prometeia, Bologna, 26 November, 2015.  Video interview -- China and other EMs: The long view. "Globalization and Chinese Growth: Ends of Trends?" forthcoming, edited by P.Onofri. (PDF)


"China Confronts the Market," Project Syndicate, September 4, 2015.   "Misinterpreting Chinese Intervention in Financial Markets," China-US Focus, September 10, 2015.  Exhibits, Sept. 21, 2015
 "The Implications of China's RMB Devaluation," Q&A, Harvard Kennedy School, Aug. 19, 2015.

"Asia Games are Not Zero Sum,"
Project Syndicate, April 23, 2015.
  "Congress, China, and Currency Manipulation,"  China-US Focus, April 8.  The Non-Problem of Chinese Currency Manipulation,” Project Syndicate,, Feb.20, 2015.  "Chinese currency manipulation not a problem,"  East Asia Forum, March 9. Condensed from "If China stops manipulating, its currency will depreciate," Feb. 23, 2015.
"The Rise of China & the RMB," ppt, HKS China Society, Feb. 8, 2015.
"China is Still #2,"
Project Syndicate, May 5.   Expanded as "China is Not Yet #1," VoxEU, May 19, 2014.   China is Not Yet Number One,” in Frontiers of Economics in China, 2015, 10, no.1, 1–6.  Reprinted ESAGEV (in Turkish).
"Will the Yuan Challenge the Dollar as Top International Currency?" CERK International Conference, Center for Economic Research of Korea, SungKyunKwan University, May 22, 2014.
"China Currency Issues," MPA/ID program, Nov. 2012
"China-US Currency Issues," China's Leaders in Development Program, Ash Center, June 2012, appendices. June 2010
"The Rise of the RMB as an International Currency: Learning from Historical Precedents," JP Morgan Asia-Pacific Equity Conference, Sept. 6, 2012.
"China Adjusts," Project Syndicate, March 23, 2012.   E.g., Brisbane Times. Sydney Morning Herald..
"Internationalization of the Renminbi: What Does History Tell us About the Precedents?" at RIETI, Japan, Oct. 2011. "The Rise of the Renminbi as International Currency: Historical Precedents," Vox Oct.2011.  "The RMB as an International Currency," Slides, Club de CEPII, Paris, 12 Jan., 2011.
"China-US Currency Issues," China Future Leaders, Jan. 2011,   
"The Renminbi-Dollar Issue," slides, Spring Exercise, HKS, April 23, 2010.     "China, the US, and Currency Issues," presentation, CFL, Harvard, Jan.2010.
"Asia, the US, and the G20 in 2010," presentation, Harvard Project for Asian & International Relations,  Feb. 2010


  "Trade, Growth and the Environment,"  guest lecture, Rob Stavins' class, April 2017. PDF of slides.
"A Fair, Efficient and Feasible Climate Agreement,"
 Project Syndicate,, Dec. 17, 2015.
"Now is the Right Time to Reform Oil Pricing,"
The Guardian, August 10, 2015.
"Trade, Growth and the Environment,"  guest lecture, Rob Stavins' class, April 2015.  pdf of slides.
"A Pre-Lima Scorecard for Evaluating Which Countries Are Doing their Fair Share in Pledged Carbon Cuts
," with Valentina Bosetti, Nov.2014. Viewpoints summary of full text of Policy Brief, Harvard Project on Climate Agreements.  Medium-length version, "Fair Shares in Pledged Carbon Cuts" for VoxEU, Nov.24 Op-ed version in Project Syndicate, Nov.14, 2014.

"Market Failure and Political Failure," 
Project Syndicate, Feb.11, 2014.   Full version, "The Rise and Fall of Cap-and-Trade," Feb. 18, 2014.
"Protectionist Shadows Over Solar Power,"
Project Syndicate, Aug. 1, 2013.   Full version: Protectionist clouds darken sunny forecast for solar power, VoxEU, Aug. 7, 2013.  Blog.
"Fear of Fracking" Project Syndicate, Apr.16, e.g., Korea Herald; & "The Problem with the Precautionary Principle," Apr.18, 2013.
"Fear of Fracking
," comments for panel on New Energy Sources, Conference on International Commodity Price Fluctuations, IMF, March 20.
“Trade, Growth, & the Environment,” slides, March 2013,  Graduate Consortium on Energy & Environment, Harvard University.


  "Brexit" panel video, NBER Summer Institute, July 12, 2016.      

German American Conference at Harvard 2015, Oct. 30. Euro panel:

"The Greek/euro crisis: 8 Mistakes," State of the euro, Center for European Studies, Sept. 22, 2015.  Powerpoint.

 "Only Tsipras Can "'Go to China'"  blog, July 20.   Condensed as "Is Tsipras the New Kim Dae-Jung?," Korea Herald, July 20, 2015

 Causes of Eurozone Crises,”  July 20,  written for Causes of Eurozone crises past and future, a forthcoming VoxEU eBook co-edited by Richard Baldwin and Francesco Giavazzi (CEPR).

 “Desirability of currency internationalisation,” slides, 7th Policy Roundtable of the European Central Bank, The international role of the euro: past, present and prospects, European Central Bank, 24 June 2015, Frankfurt.

"Currency Politics, European Style," Video, Center for European Studies, Harvard, April 7, 2015.

"Italian Growth: New Recession of 6-Year Decline?"
VoxEU, Aug.11, 2014.

"The ECB Should do QE via FX,"
VoxEU, March 24.   "Considering QE, Mario?  Buy US Bonds, Not Euro Bonds" Mar.21.   "Why the ECB Should Buy American," Project Syndicate, Mar.13.



The Plaza Accord, 30 Years Later,” for a Conference on Currency Policy Then and Now: 30th Anniversary of the Plaza Accord, at the Baker Institute for Public Policy, Rice University, October 1, 2015.  Video of session 1,

Comments on “Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks?” by Olivier Blanchard, Gustavo Adler& Irineu de Carvalho Filho, IFM program, NBER Summer Institute, IFM, July 6, 2015.  Slides.

The Chimera of Currency Manipulation,” Korea Herald, June 14, 2015.

"Monetary Policy in Emerging Markets," CEMLA webinar, June 2, 2015;  powerpt.      “Spillovers to Emerging Markets," Economic Advisory Panel meeting, Federal Reserve Bank of New York, November 21, 2014.

 "Will Fed Tightening Choke Emerging Markets?"
Project Syndicate,  March 23, 2015.

Vulnerability Among Emerging Markets,"slides pdf, SSgA, Oct. 9, 2014.

"The Fed and EMs," conference hosted by Central Bank of Republic of Turkey, Istanbul, June 13-14.

"U.S. Tapering and Asian Exchange Rate Policy," Korean Economic Association, Seoul, May 26.   "US Monetary Policy & East Asia" interview, KRX magazine, August 2014

"The Fed and Emerging Markets: Another Crash?" IDEAsPHERE session, HKS, May 15, 2014.

Should Central Banks Care About Exchange Rates in Addition to Inflation? SNB-IMF Conference on the International Monetary System, Zurich, May 13.

Why the ECB Should Buy US Treasuries,” Keynote Speech, Tower Center / Owens Memorial Foundation Conference: The Political Economy of International Money, Federal Reserve Bank of Dallas & Southern Methodist University, Dallas, Texas, Apr.4, 2014.

"All Quiet on the Currency Front,"
 Project Syndicate, June 2013; e.g., Korea Herald, June 17, 2013.  "Dispatches from the Currency Wars," June 11.
"Currency Wars," presented at panel on "Printing pressure: Global currency war," at American Enterprise Institute, March 18, 2013.  Video.

 Lower Interest Rates are Not the Demon of Populist Claims,” The Guardian.  "The Blind Alley of Monetary Populists," Project Syndicate , October 25, 2016.

"The Trouble with International Policy Coordination,"
Project Syndicate, November 24, 2015 and  "International Macroeconomic Policy Coordination," VoxEU,  December 9, 2015.

"Oil Market Changes, the Global Economy, and Monetary Policy," CFR-IMF conference on
Unconventional Monetary Policy in a New Oil Price Environment, IMF, Washington DC, May 18, 2015.

"Fischer, the Fed & US Growth,"  Project Syndicate, Dec.23, 2013.  Why Stanley Fischer is a Great Choice,” The Guardian, Dec.27.  Extended in "Stan Fischer, The Fed, & Sub-par US Economic Growth."

Central banks can phase in nominal GDP targets without damaging the inflation anchor? VoxEU, Dec.19, 2012.  

"Time for Nominal Growth Targets,"
 Project Syndicate, Dec.16.  E.g. "Is it Time for Nominal Growth Targets?" The Guardian, UK, Dec.17, 2012.

Inflation Targeting is Dead. Long Live Nominal GDP Targeting,” Vox, June 19, 2012.      
"The Death of Inflation Targeting," Project Syndicate, May 16, 2012; incl. Korea Herald  5/27/12.

Commentary from U.S. (The Money Illusion, MacroMarketMusings, EconoMonitor), Brazil (Global Economic Symposium, Historinhas); India (Mostly Economics); South Africa (Twenty-third Floor); Denmark (The Market Monetarist); Iceland (Icelandic Economics)...

"The Pot Again Calls the Kettle Red," Economonitor, Nov. 17, 2010.


The Domestic Threat to US Leadership,” Project Syndicate Apr. 13, 2016; e.g., in Korea Herald, 4/14/16.  Extended version, Econbrowser.

"Reckoning with Inequality in the US,"  Project Syndicate, March 2016; e.g. in Korea Herald, 3/27.  Extended version, Econbrowser.

"Who is right on US financial reform? Project Syndicate, Feb.24, 2016; e.g., in Straits Times.  Extended version, Econbrowser1-slide chart of reforms and who has supported them.

"Why Support the TPP?"
Project Syndicate,, Oct.8.  "Critics Should Keep an Open Mind,” The Guardian, Oct. 11.  "Be Open-Minded About TPP" Korea Herald, Oct. 12, 2015.

Piketty’s Missing Rentiers,” Project Syndicate, Sept.19.   "Piketty's Fence," Sept. 22, 2014.

"The Subsidy Trap," Project Syndicate, Aug. 14.  "Modi, Sisi & Jokowi: Three New Leaders Face the Challenge of Food & Fuel Subsidies," Aug. 23.  "Tackling Food & Fuel Subsidies," VoxEU, Sept. 9, 2014.

Sovereign Debt at Square One,”
Project Syndicate.  E.g., "U.S. Court Rulings to Undermine Debt Restructuring," Korea Herald;  The Guardian, July 17.    Full: "It Takes More than Two to Tango," VoxEU, July 22.  Letter from 100 Economists, Aug.

"Emerging Market Target Practice,"
Project Syndicate. E.g., "Developing Countries Should Target Nominal GDP," The Guardian, June 24.  Extended version: "Nominal GDP Targeting for Developing Countries,"  VoxEU,  Aug.21.

"The Oligarchy Fallacy," Project Syndicate, April.  E.g., "Rising Inequality," The Guardian, Apr. 22.  Full version, with references: "How to Address Inequality," VoxEU, Apr.29, 2014.

"Absent America,"
Project Syndicate, Jan.24.  US Picks a Bad Time to Miss World Affairs,” Bangkok Post, Jan.27.  Full version, “IMF Reform & Isolationism in the US Congress,” East Asia Forum, Jan.29, 2014.

"The Dollar and Its Rivals,"
Project Syndicate, Nov.21, 2013.  "The US Dollar's Status has Fallen, But Not Uniformly," The GuardianExtended, with graphs, as "The Latest on the Dollar's International Currency Status," Vox, Dec.6; and  blogpost, Nov.26.

"Betting on the Tortoise in Japan,"  
Project Syndicate, Sept.12.  Extended version,"Japan's consumption tax: Take it slow & steady," Sept. 16, 2013.

How Many European Recessions? " Project Syndicate, July 17.  E.g., UK Double-Dip Recession Revised Away, The Guardian, UK, 7/19. Or The Korea Herald 7/21.  Extended version: "One Recession or Many? Double-Dip Downturns in Europe," July 22.

"The Economists' Stone,"
Project Syndicate,  March 13, 2013.  Full version "Monetary Alchemy, Fiscal Science," Jan.26, 2013.

"The Battle of the Bond Benchmarks,"  
Project Syndicate, Feb.11.   Extended version: "Should Bond Benchmarks Shift from Traditional to GDP Weights?" Feb.15, 2013.

"Four Magic Tricks for Fiscal  Conservatives," Project Syndicate, Oct. 22, 2012.

"Flock of  Black Swans," Project Syndicate. Aug.20.   Part I: Black Swans of August.  Part II: More Black Swans, Aug. 23.

Budgetary Wishful Thinking,Project Syndicate, April 12, 2012; including Korea Herald 4/16/12.

"Did Obama Turn Around the Economy?" Project Syndicate, Feb.20, 2012;  incl. Korea Herald 2/23/12.

"Will Emerging Markets Fall in 2012?" Project Syndicate Jan.20, 2012; including “Cycle of crisis looms over emerging markets,” Bangkok Post, 1/26/12 Reprinted, Business & Management Journal 2, no.2, Jan.2012, pp.119.

Who Should Lead the IMF? Project Syndicate, May 27, 2011, incl. FT Deutschland, Il Sole 24 Ore, China Daily.



"Panel on the Euro Crisis," Center for European Studies, Harvard, Feb. 13, 2014.   

""The Future of the Currency Union,"
written for Academic Consultants Meeting, Federal Reserve Board of Governors, May 6, 2013; slides.  HKS RWP13-015.

"Will Europe's Fiscal Compact Work?" Project Syndicate, Jan.18, 2013.    

"Could Eurobonds Help Solve the Euro Crisis?" Vox, June 2012.   Which Eurobonds?" Project Syndicate, June 14, 2012; incl. Les Echos, Paris, 6/14/12.  

"Sovereign Debt," panel, IGLP workshop, Harvard Law School, June 6, 2012
     "Sovereign Debtors in Distress: Who Is Vulnerable?," conference of CIGI & INET,  Feb. 24-26, 2012.

The Euro, Moral Hazard & the Analogy to 50 US States," Harvard, Feb.13, 2012.
"The Euro Crisis & Greece: 5 Mistakes,"  Hellenic Society, Harvard, Dec.6, 2011
.   MIT, Dec.2, .
The Euro Crisis & Greece: Six Mistakes,” video,  Whither Europe? Lessons, Risks, and the Way Forward, lecture series, Kokkalis Program, Feb.13, 2012.  "The Greek Debt Crisis: The ECB's 3 Big Mistakes," VoxEU, May 16;  Part I & Part II blogposts. 
“Optimal Currency Areas & Governance", slides”
the Challenge of Europe a INET Annual Conference, Apr.10, 2011 . Video available, incl. my presentation.


"Sinners, Red States, Blue States," blogpost, Oct. 4, 2012.

More on personal responsibility:  "Sex, Money, Red States and Blue States," VoxEU, Oct.2, 2012

"Romney Rejects His Natural Voters," Project Syndicate, Sept.19, 2012. 

"Obamacare champions personal responsibility. The states that hate it don't," Christian Science Monitor, Sept. 6, 2012.




 "African Leaders' Eyes on the Prize," Project Syndicate, Oct.15, 2013.   E.g., Korea Herald, Oct.21  
Full version:  "The Ibrahim Prize for Excellence among African Leaders," in Africa Policy Journal, April 2014.

"Cuban Time Travel," Les Echos and other Project Syndicate, Nov.22, 2012.   Full version: "Cuba: A Trip to 1959," Nov.26, 2012.

"Chile's Countercyclical Triumph," in Transitions, Foreign Policy, June 27.

"Off the Beaten Path," Transitions, Foreign Policy, Feb.16, 2012.  
"The Little Economy That Could," Transitions, Foreign Policy, Feb.2, 2012. 

Some Big Ideas from Small Countries,”  European Financial Review, April-May, pp. 4-5, 2011.  

"Big Ideas from Small Countries," Korea Times , Il Sole 24 Ore, and other Project Syndicate newspapers, Oct.2010.   
Reprinted, Business & Management Journal 2, no.1, Jan.2011.  With links: blogpost 8/15/10.   TV interview, BNN, 8/16/10.



"The Global Economic Environment for Emerging Markets," Asobancaria, Medellin, Colombia, May 3, 2012.  Appendix slides.    Video (Spanish translation).
Currency Wars: The Euro Crisis & Global Outlook in 2012,” Macquarie Securities, Mar.1, 2012.

Coping with Asia’s Large Capital Inflows in a Multi-speed Global Economy,” IMF / Bank of Indonesia conference, Bali, March 2011. 
  SlidesAppendices.    slides, 1st draft,
"Currency Wars,"
MAS Sponsored Public Lecture, Singapore, March 8, 2011. Slides.  Without appendices.   Appendices.

"G20 Guidelines for Persistently Large Imbalances," slides, Experts Panel, G20 Working Group on the Framework for Strong, Sustainable & Balanced Growth, Paris, 13 Jan., 2011.

"G20: Leadership Need Not Come Only for the G7," Oct.28, 2010, East Asia Forum Quarterly.

"What Lessons Do Developing Countries Have for Fiscal Policy in the US?," slides, Stern School & India Planning Commission Workshop on Restoring Inclusive Growth,  NYU, Oct. 7-8, 2010.  ["Emerging Lessons," Business Standard, Nov.2010]

"Currency Wars," Macquarie Securities, Dec. 8, 2010.               
"What's Hot and What's Not in Global Money", State Street Institute, Oct.19, 2010.
"Unforeseen Global Economic Developments," slides, Windsor Conference, Sept. 20, 2010.
On Global Currencies,”
Keynote speech for workshop on Exchange Rates: The Global Perspective,  sponsored by the Bank of Canada and the European Central Bank, Frankfurt, June 19, 2009.  Powerpoint.      RWP09-026, Sept.
" 'What’s Hot and What’s Not' in Global Currency Economics," Beijing Government Senior Executive Management Program, Harvard Asia Program & Mass Insight, Nov.10, 2009; slides.

"How to Agree Emission Targets at Durban," with Valentina Bosetti, VoxEU, Nov. 28, 2011.
"Real Energy Security: Drill, Baby, Drill—But Not Now,"  Dec.2010
, Weekly Policy Commentary, RFF.  "Gulfs in Our Energy Security," blog, May 2010.

"Copenhagen and Key Next Steps," slides,  Roundtable hosted by HPICA, Copenhagen, Denmark, Dec. 15, 2009

"Targets, Timetables and Trade: How to achieve a successful Copenhagen," East Asia Forum Quarterly, vol.I, no.3, Oct.-Dec.2009, pages 11-13.

"A Pragmatic Global Climate Policy Architecture," with V. Bosetti, Weekly Policy Commentary, Oct.12, 2009; reprinted in 100 Policy Commentaries on Environmental, Energy, Urban & Public Health Problems, I.Parry & F.Day (Resources for the Future).

"The Politically Possible: How to Achieve Success in Copenhagen" op-ed for the Bulletin of the Atomic Scientists, October 2009.
Next Steps After the Kyoto Protocol:   Formulas for Quantitative Emission Targets,” Vox , June 2007.
Comment on Martin Wolf's column "In spite of sceptics, it is worth reducing climate change."  For FT Forum, FT.com, Feb. 7, 2007.

Comment on “Curbs on emissions will take a change of political climate.”   For FT Forum, FT.com, Nov. 8, 2006.

The American Revolution & Cambridge Common” (ppt), or PDF version; Graham & Parks School 3rd grade class, Jan.31, 2011.  Historical treasure hunt. Accompanying mapTeachers' guide, Feb.10, 2011.   

"It May Be Slow, But at Least It's a Recovery," slides, Harvard. Oct.2010.
Emerging Market Countries in the Global Financial Crisis,”
slides, Insights in Development Thinking, with COMFAMA, May 20, 2010. 
"Economic Outlook,"
Toronto, April 20, 2010.

"The Global Economic and Financial Crisis," WCFIA Fellows’ Alumni Reunion & Conference, Weatherhead Center, April 16, 2010
"After  the Global Financial Crisis: Korea, the US, and the G-20"
, presentation, 25
th anniversary of the Korea-America Economic Association, Atlanta, Jan. 2010. 

How do we know this will not be another Great Depression?  Lessons from the Current Crisis", Belfer Center Economics Seminar Series, HKS, May 4, 2009. slides

The Financial and Economic Crisis," slides:   Harvard,  Feb.12April 29, 2009;   Wellesley, Mar. 26 ;  BSAS June 25, 2009.

"How the Government Dealt with Past Recessions,"  NYTimes.com, New York Times, Jan. 2009.

"Understanding the Economic Crisis,"
Program for New Members of Congress, Harvard, Dec. 4, 2008;  TV: NECN.  Radio: Federal News Radio  Blog: PolitickerMA.com

"The revised TARP plan should have passed," September 29, 2008.   On Point, NPR.

"An emerging consensus against the Paulson Plan: Washington should force bank capital up, not just socialize the bad loans," Sept.22, 2008.

"Atheists in Foxholes; Libertarians in Financial Crises", July 2008.  [cited on Lehrer Report]

“Thinking about Risks Ahead of Time,”   1-page comment for FT.com Forum, on Martin Wolf 's column, “Risks and Rewards of the World Economy’s Golden Era,”  Financial Times,  May 2, 2007.


The Natural Resource Curse: Causal Channels," University of Havana, Cuba, Nov.2, 2012.
"The Mining Resource ‘Curse’ and How Countries Can Fight It,” RBC Global  Mining Conference, Toronto, June 20, 2012.

"How Countries Can Deal With Commodity Price Volatility G-20 Commodities Seminar, Los Cabos, Mexico, 5 de Mayo, 2012.

Escaping the Oil Curse,”
Project Syndicate,  Dec. 9, 2011. 
"Barrels, Bushels and Bonds: How Commodity Exporters Can Hedge Volatility,"  Project Syndicate, October 17, 2011
Natural Resource Curse,”  High Level Seminar on Commodity Price Volatility and Inclusive Growth in Low-Income Countries, IMF Annual Mtgs., Sept.21.  slides.   Podcast (Sheeran, Frankel, Bredenkamp, Ross...).

"Increases in Global Commodity Prices: The Macroeconomics and Policy Responses of Developing Countries," full slides, V Jornada Monetario, Central Bank of Bolivia, July 18, 2011

Can Food Prices Be Stabilized? Project Syndicate, June 27, 2011.  E.g., Al Wadi, Kuwait.

 How Developing Nations Escaped Procyclical Fiscal Policy," Vox, June 23, 2011.

"How Can Commodity Producers Reduce Procyclicality?" slides, for G-20: Completing the Agenda, AEEF Conference, Session on Fighting Volatility in Commodity Markets,  French Ministry of Finance, Paris, Jan.2011.

"The Natural Resource Curse" slides  I: Can Mineral Wealth Cause Problems?   II: Recommendations to Avoid the Pitfalls Prepared for Mongolia Economic Forum, Ulan Bator, March 3, 2011.

Addressing the Natural Resource Curse, Keynote address,  High Level Seminar IMF Institute & Central Bank of Algeria, Algiers, Nov.4., 2010 

Peg the Export Price,”
Vox, July 29, 2008.

UAE & Other Gulf Countries Urged to Switch Currency Peg from the Dollar to a Basket That Includes Oil,” Vox, July 9, 2008.

Monetary policy and commodity prices,” Vox, May 29, 2008.

"An Explanation for Soaring Commodity Prices,”
Vox,  March 25, 2008.


"The euro at Ten: Why such small trade effects?"  Vox, Dec.24, 2008.

"The euro is a credible challenger to the dollar in the wake of the financial crisis of 2008."  CQ Global Researcher, Oct. 2008, p. 287.

"The Euro Could Surpass the Dollar Within 10 Years,"  Vox,  March 18, 2008

“Snake-Oil Tax Cuts,
 Economic Policy Institute, Briefing Paper 221 Presented at The Economics, History, and Public Debate of Supply-Side Policies at Center for American Progress, Washington, DC, Sept.12, 2008.
“Nine Reasons You Have Heard Why We Are Not Supposed to Worry About the US Deficits,” Powerpt slides, World Economic Outlook Conference, Global Insight, Boston, Oct. 30, 2007

“Perspectives on the Current International Financial and Macroeconomic Situation,” London, May 14, 2007.  Slides  Without appendices.

“Is the Debt Important?slides, New England Republican Council Issues Conference, Boston, April 28, 2007.

"New Perspectives on Financial Globalization," slides, IMF Economic Forum, April 27, 2007.

"Have Financial Developments Made the International Monetary Fund Obsolete?" for The International Economy, March 1, 2007.

"Making Inflation Targeting Appropriately Flexible" & "On the Rand," South African Treasury, Pretoria, Jan.16, 2007. Slides.
Prospects for Monetary Integration in Southern Africa," slides Stellenbosch University, Jan.18, 2007.

Implicit Volatilities in Options Prices are Too Low,"  TransNational Research, London, Jan. 12, 2007.

Jeffrey Frankel and Amartya Sen debate in the Forum "Is the Language of Rights Useful in the Fight Against Poverty?"

"Falling Dollar," Martin Wolf's Financial Times column, and JF comments thereon, Economists' Forum, FT.com, Dec. 6, 2006.

“What Do Economists Mean by Globalization?  Implications for Inflation and Monetary Policy,” for Academic Consultants Meeting, Board of Governors of the Federal Reserve System, Sept.28, 2006.  Slides with graphs.  Forthcoming in Economic Integration - Global Experience, Icfai Unive. Press (Institute of Chartered Financial Analysts of India) Hyderbad; 2007.

“Can China Achieve a Soft Landing?” Sept.18, 2006, for The International Economy, Fall issue.

“Trade, Growth, and the Environment,” slides, Guest lecture, Rob Stavins class in Environmental & Resource Economics and Policy, KSG, May 2, 2006.

Interview on "International Currency Rankings," including video excerpt Kennedy School Insight, May 2006.

"The Economic Outlook and the Twin Deficits," Boston Economic Club, May 24, 2006.    Earlier versions were presented at The Columbus Group, Harvard University, Feb. 17, 2006; an Ambrosetti meeting, Villa d’Este, Italy, March 31; and the Economic Advisory Panel Meeting of the Federal Reserve Bank of New York, April 7, 2006;  and the Real Estate Academic Initiative, at Harvard University, April 19, 2006.

“How disruptive would $80-$100 oil be to the US and global economies?” April 2006, question for The International Economy.

"Will rising US interest rates precipitate the next wave of emerging market crises?" The International Economy, Winter 2005.

“On the Renminbi,”  CESifo Forum, vol 6, no. 3, Autumn 2005, p. 16-21 Ifo Institute for Economic Research, Munich.

“As a Budget Storm Gathers, Bush Ignores Fiscal Forecast ,” The Forward, Sept. 16-22, 2005.    Translated into Japanese in SAPIO magazine, Tokyo.

[China's Announcement of de-linking from RMB to the $ -- Segment on On Point radio show July 21, 2005]

"Pro-Trade Arguments in Answer to the Contrarians,"  July 11, 2005. Financial Times.

"What's Ahead:  Decade of the Dollar, the Euro, or the RMB?" Eurobank, Athens, Greece, 21 June, 2005.

"What Can An Economic Adviser Do When the President Adopts Bad Economic Policies?"    The Pierson Lecture, Swarthmore College, Apr. 21, 2005.  
Incl. tribute to Bernie Saffran.

Why Are Oil and Metal Prices High? Don’t Forget Low Interest Rates,  published as “Real Interest Rates Cast a Shadow Over Oil,” Financial Times, 4/15/05.

"The Wrong Approach,"  Jeffrey Frankel and Jessica Stern, The Baltimore Sun, October 29, 2004. Pg. 17A.

"A Debate on the Deficit," Challenge, November 2004, pp. 12-45.  Reprinted in The Means to Prosperity: Fiscal Policy Reconsidered, edited by Per Gunnar Berglund and Matias Vernengo (Routledge, 2005)

"The World Trading System and Implications of External Opening" written for "From the Washington Consensus Towards a New Global Governance," Fundacio CIDOB, Barcelona, Spain, held Sept. 24-25, 2004.

"Designing a Regime of Emission Commitments for Developing Countries that is Cost-Effective and Equitable" (with Joseph Aldy), written for G20 Leaders and Climate Change, Council on Foreign Relations, Sept. 20-21, 2004.

"Kyoto and Geneva: Linkage of the Climate Change Regime and the Trade Regime" a speech for Broadening Climate Discussion: The Linkage of Climate Change to Other Policy Areas, FEEM/MIT conference, Venice, Italy, June 2004.    KSG RWP04-042.  

"Twin Deficits and Twin Decades," a speech written for the conference on the Macroeconomics of Fiscal Policy, held by the Federal Reserve Bank of Boston, at Wequassett, June 14-16, 2004.

"On the Renminbi: The choice between adjustment under a fixed exchange rate and adjustment under a flexible rate," written for a High-Level Seminar on Foreign Exchange System,  Dalian, China, May 26-27, 2004.
Presentation at American Enterprise Institute, Washington DC, Jan. 10, 2005

"Ten Defenses for Irresponsible Tax Cuts, and Why They are Wrong," panel on The Budget Deficit and the American Economy: How Much Does the Deficit Matter? What Should Be Done? with Richard Darman, Glenn Hubbard, and Alice Rivlin, Kennedy School of Government, April 30, 2004.

 "What is the White House Trying to Do?" The Forward, June 27, 2003. 

A Proposal to Tie Iraq’s Currency to Oil published as "A Crude Peg for the Iraqi Dinar,"  June 13, 2003,  Financial Times.

When An Economic Adviser Disagrees with the President, Financial Times, March 31, 2003 (.pdf version)

"Deficits and Decades:  Lessons from US Economic Policy in the 1990s," speech at ICRIER, New Delhi, India, Jan. 15, 2003.    

“Currency Blocs and Market Integration: Implications for Trade and Business Cycle Correlations,” A background report for the Commission on The UK Outside the Euro, October 30, 2002.

"Trading Places",  September 13, 2002, Financial Times.

"EMU and the Euro:  An American Perspective," Lucchini Foundation, Brescia, June 22, 2000. (In Italian)

"US Economic Performance, and Implications for Mexico," delivered at State of the Government, First National Meeting of Legislators of the National Action Party (PAN), Puerto Vallarta, Mexico, August 23, 2001.

"Economic Advantages of America," Europa und USA im Spannungsfled vonWirtschaft und Politik, Schloss Schönbrunn, Vienna, 16 May 2001; and Dublin Castle, Dublin, Ireland, 7 June 2001.

 Lecture at IMF Institute, August 7, 2000; as reported in IMF Survey, vol. 29, no.17, August 28, 2000.

"Globalization: Why and How It Should Continue," presented at the MacArthur Transnational Economic Security Workshop, MIT, May 2000.

"EMU and the Euro: An American Perspective," for EMU Watch Series, DB Research, presented at Deutsche Bank, Frankfurt, June 21, 2000; and the Lucchini Foundation, Brescia, June 22, 2000. (In Italian)

"The Economics of the Kyoto Protocol and Global Climate Change Policy," Kennedy School Forum, Harvard University, March 15, 2000.

"Critiques of the IMF,"  for a debate with Jeff Sachs --The IMF: Are 50 Years Enough? moderated by Joe Nye, KSG, Harvard University, April 20, 2000.

"Achieving Environmental Goals at Minimum Economic Cost," Edison Electric Institute Advisory Panel on Fuel Diversity, EEI Chief Executives Conference, Palm Springs, CA, Jan. 13, 2000

"On Reports that Someone in Washington Has Mislaid Russia,"  Dean's community-wide discussion on The Future of Russia, December 13, 1999, Kennedy School of Government, Harvard University. Published in  The Russian Weekly; Delovoi, Russia; Lietevos Aidas, Lithuania; Logos Press, Moldova; Aki Press, Kyrgystan; and Siue, Slovakia; Fall 2000.

"The Outlook for the US Trade Balance," Academic Consultants Meeting, Board of Governors of the Federal Reserve System, Nov. 29, 1999.

"U.S. Economic Performance and Lessons for Other Countries," Weatherhead Fellows Conference, American Academy of Arts and Sciences, Nov. 20, 1999; revised for meeting with members of Japanese Diet, Center for Business and Government, November 16, 2000.

"Lessons Learned from the Korean Crisis," Conference on The Korean Crisis, Center for International Development, Harvard University, Nov. 19, 1999.

"Asia: Opportunity or Obstruction," conference on Global Economics and Global Security: The Balance in the New Millennium, KSG, Sept. 23, 1999.

"Is the US Interested in Exercising Dollar Diplomacy?" (abridged), address to Conference on Dollarization,  InterAmerican Development Bank, Panama City, Panama, July 1999.

"No Single Currency Regime is Right for All Countries," testimony before the House Committee on Banking and Financial Services, May 21, 1999.

"Dollarization in Latin America: Solution or Straitjacket?" remarks at the Council on Foreign Relations, Washington DC, April 6, 1999, and International Monetary Fund, June 24, 1999.

“The Kyoto Agreement on Global Climate Change: The Administration Economic Analysis,” Luncheon Remarks to the NBER Conference on Tax Policy and the Economy, Hotel Washington, October 20, 1998.    Appendix: Tables and Charts of Effects on Energy Prices.

"Curbing Carbon Emissions and the Kyoto Protocol: Perspective from the Administration," Washington Policy Seminar, Macroeconomic Advisers, Georgetown Conference Center, September 10, 1998, and the International Monetary Fund, June 24, 1999.

"Economic Analysis of the Kyoto Protocol," After Kyoto: Are There Rational Pathways to a Sustainable Global Energy System?, 1998 Aspen Energy Forum, Aspen, Colorado, July 6, 1998.  Appendix: Tables and Charts of Effects on Energy Prices.

"The Kyoto Agreement on Mitigating Global Climate Change: Gains to All from Participation by Developing Countries," Keynote speech, Executive Program on Climate Change and Development, Harvard Institute for International Development, Harvard University, July 17, 1998.

"Regional Trading Arrangements: Barriers or Stepping Stones for Global Free Trade," Agenda for the Twenty-first Century, World Bank, July 9, 1998.

"Trade Blocs: Barriers or Stepping Stones for Global Trade and Investment," Keynote Speech before the International Federation of Associations of Business Economists (IFABE), Vancouver, Canada, November 19, 1997.

"Fast-track and the Continuing Importance of Trade Liberalization," Symposium on Freer Trade: In Whose Interest?, The Carter Center, Atlanta, Georgia, October 20, 1997.

"How to Gauge the Importance of Trade to the U.S. Economy," address to the National Economists Club, Washington, D.C., Oct. 7, 1997.

"How to Gauge the Importance of Trade to the U.S. Economy," address to Conference of Business Economists, Washington, DC, May 8, 1997.

"The Second Clinton Administration's Policies Toward Korea and East Asia," Address to the Korea-US Twenty-First Century Council, Washington, D.C., May 1, 1997.

"Statement before the Senate Banking Committee" and hearing, as Nominee for Member of the President's Council of Economic Advisers, Committee on Banking, Housing and Urban Affairs, US Senate, Washington, DC, March 6, 1997. US Government Printing Office.

"The Dollar's Demise? Future of the Dollar as the World's Principal Reserve Asset," H.W.Brock, editor, Strategic Economic Decisions, Inc., Menlo Park, Ca., August 1997.

"Sustainability of Currency Arrangements and Causes of Major Devaluations in Eight Latin American and Southeast Asian Countries," JETRO New York, June 1995.

"Trade Bind: Now It's Harder to Fix a Recession," with Barry Eichengreen, New York Times oped, August 14, 1988.

"Tax Policy, Trade Policy and American Competitiveness," in From the Southwest to the World, Federal Reserve Bank of Dallas, July 1989Speech, Dallas, October 1988.   Also abridged & translated into Japanese in Economist, The Mainichi Newspapers, Dec.20, 1988, 51-5.