Rewriting economic text books

Over the past decade, there has been a shortage of high quality sovereign debt and the size of emerging market debt has been growing. Negative yielding debt is approximately 14 trillion, indicating growing interest in positive yield opportunities. Measuring different currencies in the real world is not as straightforward as textbook models suggest. Economic textbooks and finance textbooks are frequently inaccurate, as observed by moments like the Bank of Japan assistant governor's statement suggesting economic textbooks might be wrong, and Olivie Blanchard's talk highlighting the limitations of deriving exchange rate movements from interest rate differentials.