On the 9th, three House subcommittees held a joint hearing on Hearing on Currency Manipulation and Its Effect on U.S. Businesses and Workers. The link has the announcement and written testimony of the witnesses.
Menzie Chinn links to news and commentary on the hearings, and reviews "the current state of the art regarding measuring currency misalignment," finding reasons for humility: Estimating equilibrium exchange rates: More reasons for humility (May 13).
The Congressional Research Service has just released two reports on exchange rate issues.
- Jonathan Sanford looks at the alternative approaches to currency manipulation available through the IMF and WTO: Currency Manipulation: The IMF and WTO (May 7).
- James Jackson "assesses the current state of knowledge concerning the role of exchange rate movements in direct investment transactions, presents data on some of the major factors that influence direct investment, and provides an overview of some of the factors that influence the way in which firms finance their investments": Foreign Direct Investment: Effects of a “Cheap” Dollar" (May 11)
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