Category Archives: exchange rates

The Top Ten Reasons Why Trade Agreements Should Not Cover Currency Manipulation

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(6/13/2015) President Obama is still pressing the difficult campaign to obtain Trade Promotion Authority and use it to conclude international negotiations — across one ocean for the Trans Pacific Partnership (TPP) and then across the other ocean for the Transatlantic Trade and Investment Partnership (TTIP). Many in the Congress, particularly many Democrats, insist that the trade agreements must include mechanisms designed to prevent countries from manipulating their currencies for unfair advantage. read more

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Give Obama Trade Promotion Authority

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(5/4/2015) Trade is now high on the agenda in Washington. President Obama is pushing hard for Congress to give him Trade Promotion Authority (TPA), once known as fast-track authority.

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Devaluations are Often Associated with Changes in Government

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(4/16/2015) The possibility of devaluation is apparently an issue in the upcoming Argentine elections.  (The forward rate for next year is about 13 pesos per dollar, which is close to the informal rate and suggests a big  devaluation relative to the current official exchange rate of 8.)   In this connection, an Argentine newspaper has asked me about “Contractionary Currency Crashes,” a paper that I presented as the 5th Mundell-Fleming Lecture of the  IMF’s Annual Research Conference. 

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