Friday, November 12, 2010
New Rules for Hot Money by Nouriel Roubini - Project Syndicate: "Of course, currency appreciation should not be prevented altogether. When justified by economic fundamentals, the exchange rate should be allowed to rise gradually. But when a currency’s appreciation is triggered by capital inflows that represent the asset-diversification preferences of advanced-economy investors, it can and should be resisted."
Posted by Rob Wolfe at 3:46 AM