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Tag Archives: BIS

William White: Why we need to debate exchange rates

William White, formerly head of monetary and economic affairs at the Bank for International Settlements and now chair of a key OECD committee,  is one of the few mainstream economists willing and eager to keep the debate about exchange rates systems alive. Most of them want to bury it. In a paper published by the…
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Why we remain in the debt trap

  Total non-financial debt had risen substantially over the last 15 years. Public finances are not yet under control. Debt is excessive and poses a serious risk in a number of countries. What are the main risks? First, there is a risk of debt deflation – a situation in which the attempt to repay debt…
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How central banks undermine the market economy

The risks and dangers for the global economy are like hidden reefs for a ship – invisible but deadly. It is quite possible, for example, that expansionary US monetary policy can cause an asset boom in China so large that its collapse would bring the Chinese economy down with it – and thus throw the…
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The IMF gets radical

To some people’s surprise, the IMF under Christine Lagarde is pushing governments and stamping its authority on financial sector issues in ways that it has seldom done before.  Following my prediction of another financial crisis (RP’s Diary, 23 September), the IMF today argues that banking reforms do not go nearly far enough. The reforms have…
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