Apple, GE, HP Among U.S. Firms Eyeing Iran Market

General Electric (NYSE:GE), Apple (NASDAQ:AAPL), HP Inc. (NYSE:HPQ), Schlumberger (NYSE:SLB) and other U.S. companies are reportedly preparing for the lifting of economic sanctions against Iran so they can enter the market of 77 million people. Concerned they might lag Asian and European competitors in Iran, some U.S. companies...
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Chipotle, Micron PTs Cut; Global Payments PT Hiked

Embattled restaurant chain Chipotle Mexican Grill (NYSE:CMG) had its price target slashed early Thursday, while Micron Technology (NASDAQ:MU) also got a price target cut and payment processing firm Global Payments (NYSE:GPN) had its price target raised following a major buyout announcement earlier this week. On an abbreviated trading...
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Institutions for Climate Change

The deal is done. Contrary to the expectations of the skeptics, negotiators in Paris agreed on a final text to climate change accord. It is, I think, an historic agreement if for no other reason that it brings all members of the international community into the climate change...
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Who Will Pay?

As might have been expected before the talks began, reports on the eve of the expected conclusion of the Paris climate change negotiations suggest that the talks have become bogged down over who will pay the costs of adaptation. (See The New York Times, here.) Advanced countries want...
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Modigliani-Miller for Climate Change Financing

In recent years, attention has focused on alternative instruments to finance projects to combat climate change. Advocates of these so-called “Green Bonds” sometimes argue that the bonds result in the financing of more “green” projects and are thus a critical weapon in the battle against climate change. While...
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Are we safer?

The Brookings Institution hosted a conference last week on the regulatory response to the global financial system with that provocative title. The conference featured former Fed Chairman, Ben Bernanke, and other prominent speakers, including professor Gary Gorton of Yale University and Fed Governor, Dan Tarullo. See the conference...
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Preventing Sovereign Debt Restructuring

At a recent private conference on sovereign debt restructuring, an old friend argued that, in addition to talking about what to do once a country has crossed a tipping point and needs to restructure its debt, efforts should also be made at prevention. It is, of course, a...
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Fallen Shibboleths and Victorian Virtues

I was a discussant at a CIGI-Institute for Policy Dialogue conference on sovereign debt restructuring at Columbia University in September hosted by Joe Stiglitz and Domenico Lombardi. In my remarks on one of papers, I identified a key challenge in the global economy: insufficient global aggregate demand that...
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The Return of Malthus?

Last month China announced that, after 35 years, it was ending its one-child policy which restricted couples to one child. While the prohibition was rigorously enforced on the masses, for those with party connections there was always a way around the policy. The fortunate few studying abroad, for...
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It’s the governance, stupid

James Carvel famously summarized the communications strategy of Bill Clinton’s 1992 presidential campaign with the phrase: “it’s the economy, stupid!” This pithy aperçu could be modified to sum up the key lesson from the Greek debt negotiations. Surveying the wreckage of the past several weeks, can there be...
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