Renewing AmericaRenewing America

Currencies Aren't the Problem

Fix Domestic Policy, Not Exchange Rates

Author: Raghuram G. Rajan, University of Chicago
March/April 2011
Foreign Affairs

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Transition 2012

Transition 2012

Stimulus or Reform?

Authors: Menzie D. Chinn, Karl Smith, and Raghuram G. Rajan

Since weak demand is at the heart of the recession, governments need to enact not just structural reforms but also stimulus programs, argues...