Richard Cooper calls for monetary policy co-ordination to smooth global exchange rates
Professor proposes internationally-agreed targets and gradual capital controls
Controlling capital flows and internationally co-ordinated monetary policy could be used to keep currencies from fluctuating excessively, according to proposals from Richard Cooper, a professor of international economics at Harvard University, in a forthcoming article for the twenty fifth anniversary edition of the Central Banking journal.
In the piece, Professor Cooper argues that the costs of fluctuating and unpredictable exchange rates would justify a return to restrictions being placed on
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