Toward forecast-free monetary institutions

Article Abstract:

Economic behavior is influenced by variables which include non-economic factors, and accuracy in economic forecasts cannot be guaranteed. Some forms of forecasting, such as budgeting, is unavoidable. Policies on forecasting of prices, output growth, recession, unemployment, internal rates and the balance of payments situation rely on surmises. The establishment of a monetary policy to stabilize the product price level would reduce the need for forecasting, as it involves the privatization of the unit of credit or money.

Management, Evaluation, Monetary policy, Economic forecasting

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Sense and nonsense of fixed exchange rates: on theories and crises

Article Abstract:

The political economy approach is the best explanation for explaining exchange rate crises. Research suggests that financial firms and industries that benefit from fixed exchange rates will attempt to influence the political process in their favor.

Banking industry, Prices and rates, Political activity, International aspects, Economics, Foreign exchange, Foreign exchange rates

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