Risky Growth Engines
While the rich world puts its post-crisis house in order, developing countries as a whole are becoming the new engine of global growth. But switching locomotives is never free of risk.
Currency Wars Yesterday and Today
An energetic debate on the danger of a global currency war has flared up in recent months, stoked by a renewed move to “quantitative easing” in the United States,…
The Arrival of Asset Prices in Monetary Policy
Once upon a (not long ago) time, there was a widely established set of blueprints for regimes of monetary and exchange rate policies expected to fit a full range…
Impacts of the Financial Crisis on Brazil
First appeared here: Globalization Team at the Institute of Development Studies (org.). Voices from the South: The Impact of the Financial Crisis on Developing Countries, Institute of Development Studies, Sussex, p.…
Greenspan in the mirror: risk management in Brazil’s monetary policy
A lot has been said in recent years about why Brazil has high interest rates and we shall return to the issue. Let me today address one aspect of the latest…