…words e_w (which isn’t necessarily constant) is the elasticity of the Phillips curve expressed in terms of employment not unemployment. “the case of a ‘flight from the currency’ in which…

Spanning the period April 14, 2010 to June 7, 2010, the euro lost 12.5% in value against the $US (this is not a trade-weighted measure of the currency value, but…

…currency crises, i.e., Sweden 1991, which drives export growth if there is sufficient external demand. For Sweden, there was. For the GIIPS, there is not. But worse yet, there’s not…

O.K., Greece is now “high yield”, “junk”, “below investment grade”, at least according to S&P. What I mean by that is S&P now rates Greece’s foreign and local currency sovereign…

…just a scare tactic, I assure you; these charts should not be taken seriously. As long as the US issues debt in its own currency, and that currency is not…

…every country across the 26 countries listed except Belgium, Germany, Greece, and Spain, saw the rate of hourly wage growth decrease since 2008. The currency is pegged, so the only…

…trading” and the crisis of 1997/98 was a textbook illustration of that phenomenon. Malaysia was heading down this road in 1997. The currency, the ringgit, was collapsing, as the contagion…

…is conveniently blamed for this. “They say China’s currency manipulation hurts the U.S. economy” [1] making China’s goods much too cheap relative to those produced in America. This tale does…

…agreements: We do know that Treasury Secretary Geithner – quoting President Obama in aid – effectively threatened China. He accused China on Jan. 22 of “manipulating” their currency, the yuan,…

…even with some recent weakening of the Dollar against European currencies. Why? from census One reason our trade deficit isn’t narrowing very much? Predatory currency manipulations by China, Russia, Japan…