A few years back, Silicon Valley Bank (and a few other regional banks) got into trouble because they held too many long-dated government bonds. Government bonds are generally a safe investment; ...

The balance of payments is a double-entry accounting system that's based on corresponding debits and credits. Its purpose is to record payments and receipts from the residents of one country with ...

The IMF’s surveillance cycle for China is wrapping up, and at least judging from the press release, China’s balance of payments was not a focus of the conversation. That is unfortunate. I, of course, ...

The concept of balance-of-payments-constrained economic growth has long served as a vital framework for understanding how external imbalances can limit long-run economic expansion. This approach ...