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Jeffrey Frankel

Mailing address

Littauer 217
Belfer Center for Science & International Affairs
79 JFK St.
Cambridge, MA, 02138

Website

Jeffrey Frankel

James W. Harpel Professor of Capital Formation and Growth

Contact:
Telephone: (617)-496-3834
Fax: (617)-495-8963
Email: jeffrey_frankel@harvard.edu
Website: http://belferfrankel.wordpress.com/

 

Experience

Jeffrey Frankel is James W. Harpel Professor of Capital Formation and Growth. He was appointed to the Council of Economic Advisers by President Clinton in 1996, and subsequently confirmed by the Senate. His responsibilities as Member included international economics, macroeconomics, and the environment. He left the Council in March 1999. Before moving east, he was Professor of economics at the University of California, Berkeley, having joined the faculty in 1979. He directs the National Bureau of Economic Research program in International Finance and Macroeconomics. Past appointments include the Brookings Institution, Federal Reserve Board, Institute for International Economics, International Monetary Fund, University of Michigan and Yale. His research interests include international finance, monetary policy, regional blocs, East Asia and global climate change. His recent publications include "Does Trade Cause Growth?" in the American Economic Review, 1999, and Regional Trading Blocs, 1997. He graduated from Swarthmore College in 1974, and received his Ph.D. from MIT in 1978.

 

 

By Date

 

2015

February 20, 2015

The Non-Problem of Chinese Currency Manipulation

Op-Ed, Project Syndicate

By Jeffrey Frankel, James W. Harpel Professor of Capital Formation and Growth

CAMBRIDGE – America's two political parties rarely agree, but one thing that unites them is their anger about “currency manipulation," especially by China. Perhaps spurred by the recent appreciation of the dollar and the first signs that it is eroding net exports, congressional Democrats and Republicans are once again considering legislation to counter what they view as unfair currency undervaluation. The proposed measures include countervailing duties against imports from offending countries, even though this would conflict with international trade rules.

 

 

Wikimedia Commons

January 19, 2015

"The End of Republican Obstruction"

Op-Ed, Project Syndicate

By Jeffrey Frankel, James W. Harpel Professor of Capital Formation and Growth

CAMBRIDGE – What a difference two months make. When the Republican Party scored strong gains in last November’s US congressional elections, the universally accepted explanation was that voters were expressing their frustration with disappointing economic performance. Indeed, when Americans went to the polls, a substantial share thought that economic conditions were deteriorating; many held President Barack Obama responsible and voted against his Democratic Party.

 

2014

December 15, 2014

"Why are Commodity Prices Falling?"

Op-Ed, Project Syndicate

By Jeffrey Frankel, James W. Harpel Professor of Capital Formation and Growth

Oil prices have plummeted 40% since June – good news for oil-importing countries, but bad news for Russia, Venezuela, Nigeria, and other oil exporters. Some attribute the price drop to the US shale-energy boom. Others cite OPEC’s failure to agree on supply restrictions.

But that is not the whole story. The price of iron ore is down, too. So are gold, silver, and platinum prices. And the same is true of sugar, cotton, and soybean prices. In fact, most dollar commodity prices have fallen since the first half of the year. Though a host of sector-specific factors affect the price of each commodity, the fact that the downswing is so broad – as is often the case with big price swings – suggests that macroeconomic factors are at work.

 

 

Lars Christopher

November 2014

"A Pre-Lima Scorecard for Evaluating which Countries are Doing Their Fair Share in Pledged Carbon Cuts"

Policy Brief

By Valentina Bosetti and Jeffrey Frankel, James W. Harpel Professor of Capital Formation and Growth

The authors explore a novel approach to evaluating the ambition and fairness of countries' voluntary pledges to reduce emissions. This approach could facilitate negotiations at the upcoming UN climate conference in Lima—and the broader process leading to a new 2015 international climate agreement.

 

 

(AP Photo)

May 5, 2014

"China is Still Number Two"

Op-Ed, Project Syndicate

By Jeffrey Frankel, James W. Harpel Professor of Capital Formation and Growth

Headlines around the world this week trumpeted a watershed moment for the global economy. As the Financial Times put it, “China poised to pass US as world’s leading economic power this year.” This is a startling development – or it would be if the claim were not essentially wrong. In fact, the United States remains the world’s largest national economy by a substantial margin.

 

 

February 27, 2014

"Market Mechanisms for Regulation: Cap-and-trade and Obamacare"

Op-Ed, Vox

By Jeffrey Frankel, James W. Harpel Professor of Capital Formation and Growth

Market-based mechanisms such as cap-and-trade can tackle externality problems more efficiently than command-and-control regulations. However, the United States and, to a lesser degree, Europe have retreated from cap-and-trade in recent years. This column explores parallels between market-based environmental regulation and market-based health-insurance reform. The author argues that in practice, the alternative to market-based regulation is not an absence of regulation, but rather the return of inefficient mandates and subsidies.

 

2013

March 13, 2013

"The Economist's Stone"

Op-Ed, Project Syndicate

By Jeffrey Frankel, James W. Harpel Professor of Capital Formation and Growth

This year marks the 100th anniversaries of two distinct institutional innovations in American economic policy: the introduction of the federal income tax and the establishment of the Federal Reserve. "They are worth commemorating," writes Jeffrey Frankel, "if only because we are at risk of forgetting what we have learned since then."

 

2012

September 6, 2012

"Obamacare Champions Personal Responsibility. The States that Hate it Don't"

Op-Ed, Christian Science Monitor

By Jeffrey Frankel, James W. Harpel Professor of Capital Formation and Growth

Jeffrey Frankel, James W. Harpel Professor of Capital Formation and Growth at Harvard Kennedy School, argues that the Affordable Care Act does not discourage personal responsibility as its detractors assert, but rather replaces practices that have done so up until now.

 

2011

September 2011

"Sustainable Cooperation in Global Climate Policy: Specific Formulas and Emission Targets to Build on Copenhagen and Cancun"

Discussion Paper

By Valentina Bosetti and Jeffrey Frankel, James W. Harpel Professor of Capital Formation and Growth

In pursuit of a workable successor to the Kyoto Protocol, this study offers a framework of formulas that produces precise numerical targets for emissions of carbon dioxide (CO2) and other greenhouse gases, in all regions of the world in all decades of this century....Firms, consumers, and researchers base their current decisions to invest in plant and equipment, consumer durables, or new technological possibilities on the expected future price of carbon: If government commitments are not credible from the start, then they will not raise the expected future carbon price.

 

2010

AP Photo

Spring 2010

"Scholars' Views Vary on Copenhagen Successes"

Newsletter Article, Belfer Center Newsletter

By Jeffrey Frankel, James W. Harpel Professor of Capital Formation and Growth, Kelly Sims Gallagher, Member of the Board and Robert N. Stavins, Albert Pratt Professor of Business and Government; Member of the Board; Director, Harvard Project on Climate Agreements

"Belfer Center participants in the 2009 United Nations Framework Convention on Climate Change Conference in Copenhagen (UNFCCC) agreed that while the summit did not produce the treaty most wanted, it did make some significant progress. They disagree, however, on how much. Professors Jeffrey FrankelKelly Sims Gallagher, and Robert Stavins, all members of the Belfer Center Board of Directors, offer their takeaways from the event."

 

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