you are currently viewing::A Critical Look at Dollar DominanceMay 23, 2025--The dollar remains central to the global economy despite the search for alternatives. Rogoff compares the dollar's post-World War II performance with other major currencies. While the Soviet ruble was never a serious competitor to the dollar, the Japanese yen at one point was. However, the yen’s sharp appreciation after the 1985 Plaza Accord fueled a bubble in Japan's stocks and real estate. By the time Japan had recovered from the bursting of the bubble, the US and its dollar had forged ahead. Source: IMF.org |
March 20, 2025--By mid-2024, artificial intelligence large language models (LLMs) were running into diminishing returns to scale in training data and computational capacity. LLM training began to shift away from costly pre-training to cheaper fine-tuning and allowing LLMs to 'reason' for longer before replying to questions.
March 10, 2025-Summary
The developing world's vibrant research in the face of limited resources offers valuable global insights
For too long, Western institutions have shaped empirical research and policy recommendations. Authors based in developing economies have a far too small footprint in top economics journals.