With the visit of President Hu to the United States, Chinese currency misalignment is at the top of the agenda. What is “misalignment”?
Author Archives: Menzie Chinn
Even more on the employment report
A contrarian perspective on employment growth
Real vs. nominal, seasonally adjusted vs. nsa
A primer on real, nominal, physical units, and seasonal adjustment
February Trade Figures
A (semi-) Positive Surprise on the trade balance
External scientific advice at the Department of Energy
Energy department abolishes science advisory board
Message or Messenger
Why is Secretary Snow such a perennial target?
Trends in Dollar Reserves
Latest data
The Full Employment Budget Surplus
The CBO’s latest estimates
Chinese revaluation
What would be the important effects?
The dollar and purchasing power parity
In my post on the dollar’s trajectory, one person asked about purchasing power parity (PPP). Here is a brief discussion of the relevance of this concept to exchange rate forecasts.