The paper identifies based on the monetary overinvestment theories by Wicksell (1898), Mises (1912) and Hayek (1929) monetary policy mistakes in large industrial countries issuing international currencies. It its argued that a neglect towards monetary policy reform in a world dominated by...

The paper identifies based on the monetary overinvestment (malinvestment) theories by Wicksell (1898), Mises (1912) and Hayek (1929) monetary policy mistakes in large industrial countries issuing international currencies. It its argued that a benign neglect towards monetary policy reform in a...

China has been provoked into speeding renminbi internationalization. But despite rapid growth in offshore financial markets in RMB, the Chinese authorities are essentially trapped into maintaining exchange controls-reinforced by financial repression in domestic interest rates→to avoid an...

Im November dieses Jahres sollen auf dem G-20-Gipfel in Cannes Vorschläge zur Reform des internationalen Währungssystems vorgelegt werden. Wie sollte ein zukünftiges globales Wechselkursregime gestaltet werden? Jörg Asmussen, Staatssekretär im Bundesministerium der Finanzen, unterstreicht,...