Friday, May 6, 2011

a rediscovered gem

http://www.stanford.edu/~mckinnon/papers/TransferProblem.pdf


this soft paper talks of increased  taxing of  wages here and lowering wage taxes in trading surplus asia
rather then adjusting forex rates

the back ground is bretton woods policy science papers

the point
present stag policy here and reboom there
accomplishes this absorption rate only adjustment
just as well and without the extra burden
of a full  employment job market

yup even better !!!

another paper by the same hand and corporate shadowed mind

http://www.stanford.edu/~mckinnon/papers/OptimumMundellN.pdf

key here national forex fixity  in the standard currency  ie
de facto large currency zoning
 is good for mnc asset holders

implication:

the tilt plus fixity ie dollar  locked regimes
is MNC field of clover