Essays on topical issues, latest developments in UK and global economies, and answers to readers questions
Was the Pound really overvalued?Posted on October 21, 2016
In recent post, I looked at whether Pound Sterling would have fallen without Brexit vote? There was a good case to say it was overvalued, but there are a few other factors I’d like to mention. Big Mac index According to the Big mac index, the Pound wasn’t overvalued at all. In fact, on this …...More
Would the Pound have fallen without Brexit?Posted on October 14, 2016
Apologies for lower posting volume recently. I am writing a book, which will be published some time in 2017. Also, in the past week I have been in New York, which has been a harsh lesson in the impact of a falling value of the Pound. Though fortunately, I earn some money in US dollars …...More
Benefits of Central Bank IndependencePosted on October 6, 2016
Monetary policy (mainly interest rates) used to be managed by the government. However, in recent years, there has been a trend to give monetary policy to independent Central Banks. The Central Bank officials are appointed by government and are given broad guidelines (e.g. target low inflation). But, the decisions are left to Central Bankers and …...More
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