Whither the U.S. Dollar
Is the U.S. dollar really doomed? If it were for some headlines, you would certainly think so. Because of the “Made in the U.S.A” financial crisis, growing budget deficits…
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The Day After Tomorrow: Macro-Financial Policy Catches Up With Reality
The 2008–09 crisis opened the door to a different kind of thinking in international macroeconomics—and closed it on some of the previous orthodoxy. Let’s take a look at some…
Currency Wars Yesterday and Today
An energetic debate on the danger of a global currency war has flared up in recent months, stoked by a renewed move to “quantitative easing” in the United States,…
Vulnerability, Exchange Rate and International Reserves: Whither Brazil?
Picture a Latin American country sitting on US$350 billion of international reserves, while running current account deficit, fiscal deficit and paying an interest bill on public debt that hovers…