EconWatch.com > Exchange Rate Clubs and the Monetary Approach

[Economist's View] There is a longcomment by Ronald McKinnon on the link between exchange rates and international adjustment at Martin Wolf's blog at the Financial Times. This is a shortened version, just a part of the section at the end -- there's quite a bit more at the (open) link given above:

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Rybinski.eu: Being monetary economists, Club B’s members can easily understand international currency asymmetry: why it is convenient, and even necessary, for one currency such as the dollar to dominate international finance as a vehicle and invoice currency. They understand the logic of an intervention system where other countries use the dollar as their key intervention currency, and the United States (as center country) does not intervene in order to minimize potential conflicts. (via Cosmos)

World business, finance and political news from the Financial Times- FT.com Europehttp://www.ft.com/home/europe  World business, finance and political news from the Financial Times- FT.com Europe: Romania and Bulgaria set to join the EU on MondayWhat dollar crisis? Economists’ Forum: ”˜There is no need for precipitate action by governments’, argues Ronald McKinnon (via Cosmos)

http://blamp.com/blog  defcon:blog: Ronald McKinnon has some intelligent things to say over at the FT blog about the falling value of the dollar. It's interesting, if not a taxing read, so here are a few gems: Regarding the manufacturing sector, he says: "In order to transfer resources in real terms from the rest of the world, the U.S. runs very large (via Cosmos)

World business, finance, and political news from the Financial Times - FT.com UKhttp://www.ft.com/home/uk  World business, finance, and political news from the Financial Times - FT.com UK: Saddam Hussein was put to death in Baghdad for ordering the massacre of Iraqi Shia civilians more than two decades ago. Read the FT's obituary. (via Cosmos)

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