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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.org/

 

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

Phillip Brewer, Flickr

June 14, 2015

"Harvard Professor Jeffrey Frankel: The Chimera Of Currency Manipulation"

Op-Ed, The Korea Herald

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

US President Barack Obama is still pressing to obtain Trade Promotion Authority and use it to conclude negotiations for the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP) with the European Union. But many in the US Congress insist that provisions must be added to the agreements to prevent currency manipulation.

 

 

May 7, 2015

"New and Improved Trade Agreements?"

Op-Ed, Project Syndicate

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

WASHINGTON, DC – Trade is high on the agenda in the United States, Europe, and much of Asia this year. In the US, where concern has been heightened by weak recent trade numbers, President Barack Obama is pushing for Congress to give him Trade Promotion Authority (TPA), previously known as fast-track authority, to conclude the mega-regional Trans-Pacific Partnership (TPP) with 11 Asian and Latin American countries. Without TPA, trading partners refrain from offering their best concessions, correctly fearing that Congress would seek to take “another bite of the apple” when asked to ratify any deal.

 

 

April 23, 2015

"Asian Games Are Not Zero-Sum"

Op-Ed, Project Syndicate

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

CAMBRIDGE – Two society hostesses are rivals. Both guard their social standing jealously – and may even punish a guest who attends the other’s party by withholding future invitations.

 

 

March 23, 2015

"Will Fed Tightening Choke Emerging Markets?"

Op-Ed, Project Syndicate

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

CAMBRIDGE – As the Federal Reserve moves closer to initiating one of the most long-awaited and widely predicted periods of rising short-term interest rates in the United States, many are asking how emerging markets will be affected. Indeed, the question has been asked at least since May 2013, when then-Fed Chairman Ben Bernanke famously announced that quantitative easing would be “tapered” later that year, causing long-term US interest rates to rise and prompting a reversal of capital flows to emerging markets.

 

 

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.

 
Events Calendar

We host a busy schedule of events throughout the fall, winter and spring. Past guests include: UN Secretary-General Ban Ki-moon, former Vice President Al Gore, and former Soviet Union President Mikhail Gorbachev.