The always busy and innovative monetary thinker Steve Hanke has started a new very interesting project – The Troubled Currencies Project – as a joint project between Cato Institute and Johns Hopkins.
Here is what Steve has to say about the project:
“For various reasons — ranging from political mismanagement, to civil war, to economic sanctions — some countries are unable to maintain a stable domestic currency. These “troubled” currencies are associated with elevated rates of inflation, and in some extreme cases, hyperinflation. Often, it is difficult to obtain timely, reliable exchange-rate and inflation data for countries with troubled currencies.
To address this, the Troubled Currencies Project collects black-market exchange-rate data for these troubled currencies and estimates the implied inflation rates for each country. The data and estimates will be updated on a regular basis.”
The project presently covers Argentina, Iran, North Korea, Syria and Venezuela.
I look very much forward to following the project in the future.