That’s the title of a symposium in the current issue of The International Economy. Martin Feldstein, Ted Truman, Joe Gagnon, Bill Cline, Mohamed El-Erian, Cathy Mann, and José de Gregorio (among many others) contribute.
Category Archives: exchange rates
Guest Contribution: “Argentina: A Big Change with Problematic Initial Conditions”
Today, we are pleased to present a guest contribution written by Maria Muniagurria, faculty member in Economics at the University of Wisconsin – Madison.
A little over two months ago, Mauricio Macri began his tenure as president after his coalition of center-right parties prevailed over the ruling party’s candidate by a small margin.
Guest Contribution: “Emerging Markets Facing Higher U.S. Interest Rates: Smooth Sailing or Perfect Storm?”
Today we are pleased to present a guest contribution written by Carlos Arteta, M. Ayhan Kose, Franziska Ohnsorge, Marc Stocker, and Lei Sandy Ye, all of the World Bank. This blog represents the views of the authors and does not necessarily represent World Bank Group views or policy.
Estimating Shock Dependent Exchange Rate Pass-Through
We propose a new focus: incorporating the underlying shocks that cause exchange rate fluctuations when evaluating how these fluctuations ‘pass through’ into import and consumer prices.
Commodity prices and exchange rates
The dramatic decline in the prices of a number of commodities over the last 16 months must have a common factor. One variable that seems to be quite important is the exchange rate.
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Guest Contribution: “Games Countries Play”
Today we have a guest contribution written by Jeffrey Frankel, Harpel Professor of Capital Formation and Growth at Harvard University, and former Member of the Council of Economic Advisers, 1997-99. This post is an extended version of a column that appeared in Project Syndicate.
Links: Housing Bubbles, Trilemma, Policy Timing Uncertainty
Food for thought over the long weekend.
Today’s Employment News and Asset Prices
Just an observation regarding the impact of the employment “news” (see [CR]) and inferred expectations of a rate hike in December, and the announcement effect on the dollar’s value.
The Opening of the American Macroeconomy and the Implications for Monetary Policy
Or, why I think Governor Brainard is right to say it’s too soon to tighten.
How Are Emerging Markets Responding to Anticipated US Tightening?
Just back from England and a couple of presentations, one at the CCBS on the Trilemma and monetary policy spillovers. Here are three graphs, related to the presentation, which illustrate how policymakers in different emerging market countries are responding to the stresses their economies are undergoing.