Thursday, Jul 19, 2007
The current framework left New Zealand "like a dog chasing its tail".
Stuff.co.nz: Economy on 'death spiral' due to exchange rate
The New Zealand economy is on a death spiral by having a free, floating exchange rate combined with inflation targeting, according to a leading US economist.
Steve Hanke, fellow of the Cato Institute and professor at Baltimore's John Hopkins University, said New Zealand should abandon its free-floating exchange rate and peg it to a key larger currency such as the US dollar, or a basket of currencies.
Posted by chris :-)) @ 12:50 AM (161 views) Add Comment
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