Economists Barry Eichengreen and Raúl Razo-Garcia have revisited the forecasts for the global monetary system they made two decades ago, and made predictions for the next 20 years.
In a paper published this week by the US National Bureau of Economic Research, the authors find they were correct about the direction of travel, but that they overestimated how quickly the world would change. In particular, they find support for their polarised view of exchange rate regimes, where countries are forced
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