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Ken Rogoff, Professor of Economics, Harvard and Former Chief Economist, IMF

Alpha Exchange

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Navigating Currency Crises

This chapter examines historical instances of market dysfunction, focusing on currency instability and the dominance of the U.S. dollar. The discussion highlights lessons from past financial crises, such as the Peso crisis and the Global Financial Crisis, emphasizing the complexities of fixed-rate regimes and their implications for modern economies. It also critiques the narrow academic focus on macroeconomic issues and advocates for a broader understanding of how monetary policy impacts global markets.

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