Questions Related to International Trade & Currencies

The currency of international trade has been on a lot of peoples' minds in the last few years. The hierarchy of currencies literature, the related questions of reforming the international monetary and financial system (IMFS), the effects of US monetary policy on the rest of the world (ROW). Add to that the war in Ukraine and Chinese trade-related discussion on the role of the ruble, dollar, yuan, oil and natural gas, wheat etc.

The Myth of the Currency Hierarchy

(response to Coppola's "The Myth of Monetary Sovereignty" and related discussions) PREFACE A) Properly understanding the macroeconomy allows countries to operate at their full real-resource potential, whatever that might be. B) Understanding the macroeconomy does not change the real resource potential of countries. That is a more fundamental question concerning the improvement of the institutions … Continue reading The Myth of the Currency Hierarchy