EMerging Equity
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Exchange Rates
The Illusion Of Monetary Policy Independence Under Flexible Exchange Rates
By Sebastian Edwards Via VoxEU The conventional ‘trilemma’ view is that countries that allow free capital flows can still pursue independent monetary policies as long as they allow flexible exchange rates. This column examines the pass-through of Federal Reserve interest rates to policy rates in Chile, Colombia, and Mexico. The author concludes that, to the extent … Continue reading
John Maynard Keynes Was A Mediocre Currency Trader: Study
It turns out that John Maynard Keynes, the father of modern macroeconomics, was a bit of a speculator. A September 2014 study by academics at Cambridge and the London School of Economics found that Keynes was an avid, but mediocre, currency trader. Olivier Accominotti of the London School of Economics and David Chambers of Cambridge … Continue reading
