economics

The Shah threw himself into a modernization and Westernization of the country, the white revolution: He carried out land reform where land was redistributed to farmers, landlords were compensated for their land by shares of privatized state-owned factories, transport networks were expanded, dam and irrigation projects carried out, malaria

savings. Typically we associate rising interest rates with declining stock, real estate, and bond prices. If most of our wealth consists of these three kinds of assets, then higher interest rates should be associated with a decline in our wealth, and because we feel poorer, we reduce our consumption rate. This seems fairly plausible too. When we

While the strong dollar gives U.S. consumers more buying/importing power, it makes U.S. products and services more expensive, and thus less competitive in the export market. Basically, it helps some groups live above their means (and U.S. asset prices have been doing great), but it hollows out the U.S. manufacturing sector and negatively affects

The equilibrium exchange rate is a concept that has generated a proliferation of theoretical and empirical research. It has its roots in seminal work that defines it as the exchange rate that is consistent with the simultaneous achievement of internal and external balance (Artus, 1977; Williamson, 1985). Internal balance is that level of economic

The stock market commonly responds by downgrading the value of the acquiring firm, because experience has shown that efforts to integrate large firms fail more often than they succeed.

The first is to assume that any nominal increase in the value of the currency is equal to a real increase. It isn’t. Since 2005 productivity has grown faster in China than in the United States, so the renminbi would have to rise by that differential—several percent annually—just to maintain its real relative value.

The Eurodollar market was the name given to the market surrounding the dollar accumulation in the banking system outside the United States during the “dollar glut” period of low U.S. interest rates in the 1960s.

we present a new type of monetary transmission, ‘Smart Helicopter Money’, to deliver monetary stimulus to innovators, SMEs and high-growth firms via both complementary currencies and a modified form of QE in order to achieve proportionally greater impact on the real economy.

taxes were the most popular economic platform of the 1920s, and anyone suggesting a hike was pushed aside.