November 3rd, 2010 () Black markets › admin › Comments Off
When price controls are imposed, exchanges at prices outside of the range set by the government are illegal. Governments may also make it entirely illegal to buy and sell certain products. This is the case with drugs like marijuana and cocaine in the United States. Similarly, prostitution is illegal in all states except Nevada. However, [...]
July 2nd, 2009 () Crisis › admin › Comments Off
The type of exchange rate regime is important for normal market trading conditions, but it is especially important for abnormal periods of market stress that may lead ultimately to a “currency crisis”. In the wake of the emerging market crises in Mexico (1994–1995), Asia (1997–1998), Russia (1998), Brazil (1999) and Turkey (2001), considerable effort has [...]