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Financial Sector

Two Distinct Windows for Recent Emerging Market Currency Movements

Jamus Lim's picture

Two distinct phases have characterized the recent movement of emerging market currencies. The first phase was a sharp decline when the crisis first occurred, as capital flight into the safety of the dollar led to a significant depreciation of emerging market currencies vis-à-vis the dollar.

The Case for an Extraordinary Windfall Tax on the Financial Sector

Jamus Lim's picture

Fixing bankers' compensation is all the rage these days. The latest salvo in the ongoing tussle is the December joint proposal by France and Britain to impose a windfall tax on the bonuses of bankers, along with the crisis "responsibility fee" suggested by the United States.