So, it’s official. The global rating agency S&P has determined that the Russian government has defaulted on part of its international debt. In itself, this is not as big a deal as it may sound. Nonetheless, the unusual circumstances have revived concerns about the future of the US dollar as the reserve currency of choice … Continue reading Could Russian sanctions undermine the US dollar?
Tag: exchange rates
Should we devalue the pound?
The Institute of Economic Affairs (IEA) often hosts debates in the form of short blogs where two economists respond either 'yes' or 'no' to a topical question. Here's a recent exchange between John Mills and myself. The hit to the UK economy and the public finances from the pandemic and the persistent weakness of both … Continue reading Should we devalue the pound?
Plain-speaking Economics 