Why Are Reserves So Big?

May 12, 2011 0

The dramatic increase in official foreign exchange reserves in developing countries has prompted accusations of protectionism, but developed countries are equally to blame for the recent increase. […]

Hot in the South

March 10, 2011 0

In order to prevent another boom-bust episode—this time in developing countries—policy makers must act soon to cool the rising temperatures in several rapidly growing emerging markets. […]

Global Rebalancing: The Dangerous Obsession

January 10, 2011 0

The recent emphasis on global economic rebalancing stokes current tensions and contributes to protectionist sentiment while diverting attention away from what is really needed—domestic reforms in the world’s largest economies. […]

Who Will Gain from a Renminbi Revaluation?

December 9, 2010 0

Policy makers around the world who are pushing China to revalue its exchange rate should note that an appreciation of the renminbi—unless accompanied by an acceleration of China’s domestic demand—will be of little benefit to most economies. […]

Currency Tensions: Four Lessons From History

December 9, 2010 0

An examination of past episodes of currency tension suggests that competitive devaluations are not likely today. But the forces behind past collapses remain highly relevant and policy makers cannot afford to be complacent. […]

Can the G20 Grow Faster?

November 3, 2010 0

Faster growth in the G20 must come through increased demand in advanced nations—beginning with the United States and Germany—rather than agreements about currency appreciations or current account targets. […]

How to Avoid a Currency War

October 14, 2010 0

Threats of a currency war hang in the air, but few countries have actually seen their exchange rate appreciate significantly. Major world economies should refocus on domestic policies before the rhetoric turns into reality. […]

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