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I happen to agree with you on this (as on much else). But you have a lot of convincing to do! Particularly in the US, conventional wisdom is hard to shake no matter how much hard evidence you collect. The only way you'll get anywhere is to get Paul Krugmann to give you support.


I fear you have the wrong Devereux (although both are outstanding economists).

Michael B. Devereux is at UBC:

Michael P. Devereux is at Oxford:

Huh. I thought it was somewhat atypical of his work, but it's not as if Mick hasn't given much thought to the workings of international capital markets and their implications for policy. Thanks for the correction.

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