The Human Face of Economics (vid.)

Prakash Loungani profiles George Akerlof. IN 1984, economics Nobel Laureate George Stigler predicted that economics was on its way to becoming the queen of the social sciences. He called economics “an imperial science,” one that was clearing a path through the academic thickets for other social disciplines. He applauded the work of “economist-missionaries . . […]

The External Impact of China’s Exchange Rate Policy: Evidence from Firm Level Data

Eichengreen, Barry & Tong, Hui. We examine the impact of renminbi revaluation on foreign firm valuations, considering two surprise announcements of changes in China’s exchange rate policy in 2005 and 2010 and employing data on some 6,000 firms in 44 economies. Stock returns rise with renminbi revaluation expectations. This reaction appears to reflect a combination […]