Publications
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The Internationalization of the Renminbi and the Rise of a Multipolar Currency System
The dollar’s steady depreciation has had little impact on the official reserves of central banks. As scholars of the international monetary system...
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Money Mischief in the Eurozone: Reforming the European Monetary Union
The European Central Bank has been a source of monetary disorder in the Eurozone. It was complicit in creating a huge asset bubble and growing...
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The Renminibi on the Internationalization Trail
The rise of the renminbi (RMB) as a key currency in international financial markets has been fast. It reflects China’s general expansion in the...
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Did Euro Leaders Say Goodbye to the IMF?
This policy brief takes stock of the agreement by Eurozone countries in late June at the European summit. If this agreement survives (which is by no...
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The Meaning of the Unsaid: The New Eurozone Deal in Perspective
Expectations were low as European leaders gathered in Brussels on Thursday last week for yet another summit to deal with an escalation of the crisis....
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The Eurozone’s Arrested Adolescence: Sketching a Way Out of the Crisis
The Eurozone crisis has been reinforced and prolonged by leaders’ inability to agree on robust and credible crisis responses. Individual...
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How Can Greece Leave the Euro?
There are fifty ways to leave your lover, according to the song, but only two ways for Greece to leave the Euro. Nothing less than the survival of...
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Please Make Spain Austere, But Not Just Yet!
Spain is on the brink of another wave of profound market distrust. It is about to enter a depressionary cycle while serious doubts remain about it...
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Is the Renminbi Undervalued? The Myths of China’s Trade Surplus and Global Imbalances
Alarmed by the persistent and large US trade deficit vis-à-vis China and the rapidly swelling Chinese foreign exchange reserves, influential US...