Hanke on correct response to currency crisis, Collum on year in review

China was willing to offer Russia unspecified assistance in the wake of the ruble’s fall, and Russia wouldn’t be the first country this year to turn to China for financial support. Erin weighs in. Steve Hanke, professor of economics at Johns Hopkins University, tells us why he thinks Russia should institute a currency board and gives us his take on what Russia should be doing to stabilize the economy. David Collum, professor at Cornell University whose annual ‘Year in Review’ is widely followed, gives us insight into his view on asset markets and on the Fed’s reaction function. And in the Big Deal, Erin and Edward Harrison further discuss Russia, China and oil, with a view to volatility in currency, equity and bond markets, especially in emerging countries.

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