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Dollar billed.(the Digest: Summaries of important new research)(Brief article)
John Makin, "Why the Dollar Is Rising ... Again;' AEI Economic Outlook, December 2005 (aei.org)
According to AEI visiting scholar A John Makin, the dollar, like a Republican President ... faces incessant predictions of imminent collapse, but in the end it wins out over weaker alternatives" Makin notes that the dollar's value has risen by more than 14 percent over the past year. Against its major competitors--the yen and the euro--the rise is by 17 and 16 percent, respectively.
Assessments of a currency rest on several factors, including the performance of the issuing country's economy, and the credibility of its central bank. Today, only three currencies are capable of acting as this global store of value--the dollar, the euro, and the yen.
The U.S. has persistently outgrown Japan and "Euroland." Also, the heavy tax load that increases prices in Japan and Euroland doesn't drag down the U.S. economy, and investors looking for inflation-protected returns consistently earn higher yields in ...
- 'The deficit won't be a very interesting issue the rest of this decade.' (John...
- Magazine article from: The Bond Buyer Patterson, Dean May 16, 1994 700+ words
...pain as a result and have been disappointed. Other factors are much more important, such as demand for credit, what the central bank is doing, and inflationary expectations. For example, you may find yourself with high interest rates because there's...
- Not stocks alone. (Economics And Business).(analysis of 'After Irrational...
- Magazine article from: The American Enterprise Lehrer, Eli December 1, 2002 700+ words
John Makin, "After Irrational Exuberance," in Economic Outlook, American Enterprise...large percentage of the national wealth in equities. AEI resident scholar John Makin argues that investors have become too caught up in buying stocks and ought...
- Congress tries its great balancing act. (for federal budget) (includes...
- Magazine article from: U.S. News & World Report Sheler, Jeffrey L. October 21, 1985 700+ words
Congress Tries Its Great Balancing Act Groping for a quick cure for federal deficits, Congress is embracing a farreaching plan that would force a balanced budget in six years through dramatic cuts in hundreds of programs. The suddenly emerging proposal, which sailed through the Senate on October 10
- The Lhasa frontier: the brand-new Beijing-to-Lhasa railway is an engineering...
- Magazine article from: The American (Washington, DC) Makin, John January 1, 2007 700+ words
"Where there's a road, a railway can be built." --Dr. Sun Yat-sen, first president of the Republic of China. In 2005, Americans spent about $10 billion on women's intimate apparel--fancy underwear, if you like. That's consumption in its most extreme form. Meanwhile, between 2001 and 2006, the
- Central bank independence, inflation, and growth in transition economies.
- Magazine article from: Journal of Money, Credit & Banking Loungani, Prakash Sheets, Nathan August 1, 1997 700+ words
...transitions economies suggest that increased central bank independence (CBI) is correlated with...relationships: (i) the effect of central bank structure on inflation, and (ii...of this paper we develop indices of central bank independence (CBI) for twelve transition...
- Central bank financial strength, transparency, and policy credibility.
- Magazine article from: IMF Staff Papers Stella, Peter July 1, 2005 700+ words
...analytically based criteria to show whether a central bank needs capital as a cushion against losses...from an economic perspective, why the central bank should be concerned about the soundness...importance to policymakers, be they a central bank attempting to induce a fall in the ...
- Central bank independence: a political economy approach.
- Magazine article from: Journal of Development Studies Bowles, Paul White, Gordon December 1, 1994 700+ words
I. INTRODUCTION The question of central bank independence has recently entered the...the appropriate role and status of the central bank. In Europe, the position of individual...the establishment of an independent central bank, dubbed the 'Bubette' as a mini...
- Central bank independence and macroeconomic performance: some comparative...
- Magazine article from: Journal of Money, Credit & Banking Alesina, Alberto Summers, Lawrence May 1, 1993 700+ words
The degree of central bank independence varies considerably...one can find a correlation between central bank independence and the level and variability...rates. Our conclusion is that while central bank independence promotes price stability...