Fix or float?

Article Abstract:

Economists have very mixed views about exchange-rate regimes. It is clear that countries are not in a position to fix their exchange rate while also maintaining an independent monetary policy. Most observers now believe that countries must either allow their currency to float freely or must strictly control their currency through a currency board or a currency union. It would appear that, in a world of capital mobility, a flexible exchange rate is the best solution, but this is not necessarily the case.

Prices and rates, Foreign exchange, Foreign exchange rates

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Crash, dammit

Article Abstract:

If the stock prices plummeted in Oct 1997 as they did in Oct 1987, it is unlikely that the Fed would be able to soften the damage. Instead, inflation is likely to accelerate due to the looser monetary conditions of the late 1990s.

Editorial, Forecasts and trends, Cover Story, Stock-exchange, Stock exchanges, Inflation (Finance), Inflation (Economics)

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