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   HistoPol (#HP) 🥥 🌴 (histopol@mastodon.social)'s status on Sunday, 23-Jun-2024 16:02:53 JST HistoPol (#HP) 🥥 🌴

   in reply to

   @GhostOnTheHalfShell @economics-that-works

   #Economics #PublicFinances
   #US #EU #ConvergenceCriteria

   (6/n)

   ...hypothesis in international finance that suggests differences in nominal interest rates reflect expected changes in the spot exchange rate between countries.")*

   *
   https://en.m.wikipedia.org/wiki/International_Fisher_effect

   Now, if you are the #ReserveCurrency of the #InternationalFinanceSystem, you can evade raising interest rates proportionally for quite some time.
   This is why #China has been working for...