Currency Wars (Brahmbhatt, Canuto & Ghosh)

Currency wars yesterday and today by Milan Brahmbhatt, Otaviano Canuto and Swati Ghosh, published by Economic Premise. An energetic debate on the danger of a global currency war has flared up in recent months, stoked by a renewed move to “quantitative easing” in the United States, resurgent capital flows to developing countries and strong upward pressure on emerging market currencies. This Economic Premise reviews some of the argument and concludes that the current U.S. monetary easing is a useful insurance policy against the risk of global deflation.