Is It Desirable for Asian Economies to Hold More Asian Assets in Their Foreign Exchange Reserves?—The People’s Republic of China’s Answer

The author calculates the return on the major Asian currency denominated long-term government bonds in terms of a basket of the People’s Republic of China’s (PRC) imports of goods and services, namely the real return on those assets from the PRC’s perspective. He shows that it is desirable for the PRC to substitute Asian currency denominated government bonds for US Treasury bills to maintain the purchasing power of its foreign exchange reserves.foreign exchange reserves; currency basket; asian currencies

Can High Reserves Offset Weak Fundamentals? A Simple Model of Precautionary Demand for Reserves

Apart from exchange rate objectives which have resulted in reserve accumulation as a side effect, Asian countries have chosen explicitly to build up reserves at least in part for precautionary motives. This paper explores the issue of optimal precautionary demand for reserves by a central bank within a context of a simple analytical model. The model suggests that, in general, high reserves can help offset moderately weak fundamentals. However, if fundamentals are sufficiently weak, no level of reserves will be able to counterbalance the weak fundamentals. This is broadly consistent with the escape clause based second-generation models of currency crisis.crisis management, crisis prevention, currency crisis, precautionary motive, reserves.

With Walt Whitman in Camden: A Progress Report and a Supplement

Describes the progress toward transcribing and editing the hitherto unpublished final three volumes of With Walt Whitman in Camden; presents a sampling of several days of previously unpublished conversation between Whitman and Traubel

The role of the euro as an international currency

The creation of the euro will link an economy that is nearly as large and as open as the United States. Does this imply that the euro will rival the role of the dollar as an international currency? This paper addresses this question through an examination of the determinants of the use of an international currency. It examines both the prospects of the euro becoming an international currency and the implications for the European Union and the United States.European currency unit ; European Monetary System (Organization)

Marca y publicidad: un matrimonio por amor

The objective of this article is to throw into relief the intrinsic relationship which exists between brand and advertising, once the former has been distanced from the product and the latter has focused on the task of filling this void with the imaginary meaning which it constructs with regard to each specific brand. The text reviews both the economical consequences that derive from this primordial relationship which exists between brand and advertising (in virtue of which the reigning capitalism describes in terms of scarcity that which in practice is a superabundance of products) as well as the fragility and instability which characterize a public scenario presided over by commercial brand or entities of any sort which have adopted the status of a brand. Today the decades-old marriage for love of brand and advertising has led to the current lovemarks, an extreme expression of the consumer loyalty which advertising and capitalism together postulate with regard to the imaginary associations of brands

Advancing the repurposing of ivermectin for malaria

There is ever-increasing anticipation for the potential of mass drug administration of endectocides (also known as systemic insecticides) to reduce malaria transmission, with ivermectin emerging as the most likely first-in-class endectocide.1 More than half of the 46 papers published on this subject in the past decade appeared in the past 2 years. 23 projects are registered in the MESA Track database, of which seven are active today; and, more importantly, trial mapping by the Malaria Ivermectin Roadmap2 shows that abundant new evidence on the topic will be available by 2020