Thursday, November 11, 2010

Roubini : on why Gold Standard Wont Work

"A fixed exchange regime, even if it is not a gold standard… that world just doesn't work. Because in that world, monetary policy by definition instead of being countercyclical becomes procyclical," "Suppose you have a fixed exchange rate just exacerbates the business cycle." Roubini said in an interview with NetNet yesterday

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