…realignments is not good. That’s because a small change in a fixed exchange rate typically leads to increased speculative flows, not decreased speculative flows, which means that the fixed exchange…

Cesar Conda’s guest oped makes a point that I can almost agree with: Personal-Account Myths: They’re not the speculative vehicles Democrats want you to think they are… Like the TSP,…

…that a commitment to a fixed rate entailed. Countries that did fix, or at least manage, their exchange rates stockpiled foreign exchange reserves to forestall speculative attacks. IMF surveillance provided…

…anyway–if it’s propaganda, ya don’t need to update?). A lot of these numbers about the “cost” of complexity are speculative, one-sided in that they overlook the huge costs of a…

…in that post by me with Mauro Gallegati and Antonio Palestrini, “The Period of Financial Distress in Speculative Markets: Interacting Heterogeneous Agents and Financial Constraints,” was finally published in Macroeconomic…

Shiller Hystericizes The US Housing Market I have the deepest respect for Robert Shiller, who has been one of the most serious students of the dynamics of speculative bubbles there…

Wall Street analysts have long engaged in speculative predictions about the impact of political shifts on the economy, particularly as elections approach. Recently, I came across discussions highlighting trends on…

…richer. Galbraith’s bezzle also captures the dynamic of speculative bubbles, which are a form of fraud we collectively inflict on ourselves. Investors buy in believing they will be able to…

…a genuine shortage of houses and not be a speculative bubble. Partly this belief is based on qualitative signals. In the period 200-2006 there were active house flippers who bought…

…States. The Commission urges the Postal Service to reconsider whether the speculative, meager gains from this proposal outweigh the certain downgrade in service for a significant portion of the nation….