This Finance survey examines that it seems likely that Japanese authorities intervened in the foreign exchange market recently to prop up the yen – see, for example: https://www.ft.com/content/455784ec-0465-46ee-8c73-fc5ce3e31c37. In such circumstances, intervention refers to purchases or sales of domestic or foreign currency without changing the monetary policy stance (a) Large-scale intervention by public authorities in currency markets can move exchange rates substantially (b) The effectiveness of foreign exchange interventions can last beyond one month
Keyword: dollar
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This US survey examines (a) Use of the renminbi in world trade, as a reserve currency, and/or for foreign bond denomination is likely to increase substantially relative to the dollar over the next ten years; (b) Ceteris paribus, a shift to a more multi-polar international monetary system would have substantial negative implications for the US economy
This week's IGM Economic Experts Panel statement:
Because of the many special and unique roles that the dollar plays in global commerce, US citizens are substantially better off than they otherwise would be.
This week’s IGM Economic Experts Panel statements:
A) Implementing a "destination based cash flow tax (including border adjustment)" of the type advocated by Speaker Ryan would substantially reduce the US trade deficit within the next few years.
B) Implementing a "destination based cash flow tax (including border adjustment)" of the type advocated by Speaker Ryan would substantially raise prices for US consumers.
This week’s IGM Economic Experts Panel poll statements:
A) If the US replaced its discretionary monetary policy regime with a gold standard, defining a "dollar" as a specific number of ounces of gold, the price-stability and employment outcomes would be better for the average American.
B) There are many factors besides US inflation risk that influence the current dollar price of gold.
This week’s IGM Economic Experts Panel poll statement:
The Chinese government pursues policies that keep the renminbi's exchange rate vis à vis the dollar lower than it would be if the currency floated without those policies.
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