Since China embraced Deng Xiaoping's reforms on 22 December 1978, China has experimented with different exchange-rate regimes. Until 1994, the yuan was in an ever-depreciating phase against the U.S. dollar.
Sanctions historically are quite counterproductive in the sense that if you impose sanctions on your enemy, it tends to strengthen your enemy.
Government buffer-stock schemes are rife with politics, and instead of generating profits from buying low and selling high, they tend to generate losses.
In Argentina, if the weather is bad, critics will blame it on the currency board.
Following its recognition as a state in 1832, Greece spent most of the remainder of the 19th century under the control of creditors. The pattern started with a default in 1832. In consequence, Greece's finances were put under French administration.
When Ronald Reagan was elected president for his first term in 1980, he received strong support from the so-called Sagebrush Rebels. The Rebels wanted lands owned by the federal government to be transferred to state governments.
When I was operating as one of President Reagan's economic advisers, an early assignment was to analyze the federal government's landholdings and make recommendations about what to do with them. This was a big job. These lands are vast, covering an area six times that of France.
In April 2013, Nathaniel Popper of 'The New York Times' reported on Bitcoin in an article titled, 'Digital Money is Gaining Champions in the Real World'.
Most economists use 'fixed' and 'pegged' as interchangeable or nearly interchangeable terms for exchange rates.
There is always the potential for a central bank to engage in discretionary monetary policy and to break the one-to-one link between changes in foreign reserves and changes in the money supply.
Since the end of the 1970s, free-market capitalism has been in, and socialism has been out.
During the Greenspan-Bernanke era, the Fed has embraced the view that stability in the economy and stability in prices are mutually consistent. As long as inflation remains at or below its target level, the Fed's modus operandi is to panic at the sight of real or perceived economic trouble and provide emergency relief.
Trade balances are determined by national savings propensities, not exchange rates.
Why is it so hard for the IMF and the U.S. government to understand that putting out the fire comes before fireproofing the building?
