Are U.S. Exchange Rates Too High, Too Low, or Just Right?

Currency exchanges rates between any two countries are determined by a variety of factors including their balance of trade and payments, capital flows (both restricted and unrestricted), and monetary policies.  In a recent posting on Conversable Economics, Timothy Taylor argued that “all exchange rates are bad” (meaning that they generate some negative consequences.)  Although this … More Are U.S. Exchange Rates Too High, Too Low, or Just Right?

Monetary Policy in an Age of Radical Uncertainty (reposting)

This commentary was originally posted on July 25th, 2016. Central bankers in all major developed economies have adopted NIRP, ZIRP, or near ZIRP policies.  The Bank of Japan and the European Central Bank now “offer” negative interest rates (NIRP) on deposits and project to do so for the foreseeable future.  The Bank of England and […]

More Monetary Policy in an Age of Radical Uncertainty (reposting)