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Discursive Etc.

Vincient Arnold

Discursive by design. Research notes, unsolicited opinions, and some hand-waving. Economics, finance, and some geopolitics. No cadence, no promises. By Vincient Arnold.

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Latest Issues

Checking in on Senegal

For those who haven’t been following (most of us, probably) Senegal is in quite a bind. I don’t follow sovereign debt religiously, but I happened to be in Dakar1 on some track two diplomacy business when I heard official sector observers de...

7 days ago

Dispatch No. 6

A User’s Guide to Reducing the Federal Reserve’s Balance Sheet. Alyssa G. Anderson, Alessandro Barbarino, Anthony M. Diercks, and Stephen Miran. Federal Reserve Board.

The Fed’s balance sheet used to be c. 6% of GDP; at its peak, it...

2 months ago
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Dollar Check-in: Argentina Swap, Yen

You’ve all heard the macro joke—there are four kinds of economies in the world: emerging, advanced, Argentina, and Japan. Let’s start with Argentina, and then Japan.

Argentina: What happened with the swap?

So, we have the New York Fed/...

4 months ago
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Euro Emergency Liquidity Then and Now

International LOLRs

Readers will be familiar with the concept of central banks acting as international lender of last resort (LOLR), providing their currency to foreign monetary authorities when in need. The story of post-World War II fi...

4 months ago
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Is China's Official Lending a Net Positive for the World?

There is an excellent literature about official Chinese overseas development lending. I was asked, in an academic context, to think about the net degree of benefit or cost to global welfare of this lending. That question itself made me refl...

5 months ago
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  • Vincient Arnold

    Current: Yale, Bretton Woods Committee. Former: Yale Program on Financial Stability, New York Fed Markets Group, onetime RA Group of 30.

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