Dr. Rick C. Ernst
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Competitive Devaluation

Asia's CFOs expect revenues increase, but FX volatility is top concern
www.globalcapital.com

This is likely a result of last year's bouts of devaluation that hit both the Indian rupee and Indonesia rupiah following the start of tapering in June 2013, while fears that further cuts to the monetary easing programmes will provoke further …

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Johnson & Johnson's Management Discusses Q1 2014 Results – Earnings Call …
seekingalpha.com

Other significant contributors to growth were ZYTIGA, XARELTO, STELARA, INVOKANA and INVEGA SUSTENNA or XEPLION partially offset by lower sales of CONCERTA and ACIPHEX due to generic competition. The strong results for ZYTIGA in the …. However, the …

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The Price Is Wrong
seekingalpha.com

Typically, we teach that lower prices is the right recipe to engineer a real exchange rate devaluation that helps regains competitiveness and improve growth (but when we do so, we ignore the other potential negative effects of low prices or inflation …

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No Bashing This Time in US Currency Report on Japan
blogs.wsj.com

“We will continue to press Japan…to refrain from competitive devaluation and targeting its exchange rate for competitive purposes,” the April 2013 report said. At around 102 yen to the dollar in Wednesday trading, the yen is actually a bit weaker than …

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Inflation in Europe: The Price is Wrong
knowledge.insead.edu

Typically we teach that lower prices is the right recipe to engineer a real exchange rate devaluation that helps regain competitiveness and improve growth (but when we do so, we ignore the other potential negative effects of low prices or inflation …

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Ukrainian businesses hit hard by Russian moves
www.ft.com

The sharp devaluation of the Ukrainian currency, the hryvnia, over the past six months has further raised its dollar-denominated interest payments on the loan, while the higher cost of borrowing from local banks has offset the positive benefit for its …

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Analysts: Despite ECB Jawboning, Euro Not Falling All That Far
mninews.deutsche-boerse.com

In the April 2013 G20 communique, members said, "We will refrain from competitive devaluation and will not target our exchange rates for competitive purposes, and we will resist all forms of protectionism and keep our markets open." The G20 April 2014 …

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This could be the moment for Greece to default
www.ft.com

It establishes a new currency that would immediately devalue. To lock in the competitive gain – to turn it into a real devaluation – would require a central bank with a credible inflation target and sufficiently deregulated labour and product markets …

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Merkel's flawed vision for Europe, Ukraine-Russia and beyond
www.aljazeera.com

But there's a flipside to that coin. For example, even though Greece and Spain's painful internal devaluation has resulted in a competitiveness gain of approximately 5 percent vis a vis Germany, the euro has appreciated 7 percent against the dollar and …

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