Word: dollarization
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Dates: during 1980-1989
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Harvard students' financial need has not changed significantly over the past few years, said Martha H. Homer, associate director of the Harvard Student Employment Office. She added that high University wages--usually at least a dollar an hour more than rates for local sales positions--might be wooing students away from the Square job market...
Reagan has another big deficit to worry about in a second term: the trade deficit, which is a painful side effect of the federal budget deficit and the strong dollar. High interest rates caused by Government borrowing encourage foreigners to invest their money in the U.S. This in turn drives up the value of American currency, which makes imports enticingly cheap and creates bargains for Americans traveling abroad. But a rising dollar can be devastating to U.S. firms selling in foreign markets, since it pushes up the price of everything from General Electric jet engines to Caterpillar tractors. Since Reagan...
...motorcycles, cars and steel. Nor is it just older industries that are protesting. "Most hightech companies have been very hard hit," says C. Norman Winningstad, chairman of Floating Point Systems, an Oregon computer company. Allen Paulson, the chairman of Savannah's Gulfstream Aerospace, is blunt about the strong dollar's impact: "Somebody has to put an end to this insanity...
...past three weeks, the value of U.S. currency has fallen a bit. Since mid-October the dollar has lost 5% of its value against major foreign currencies. The dollar is now worth less than three West German marks for the first time in nearly two months. Analysts attribute the slide largely to a decline in U.S. interest rates. Some economists, including Britain's Stephen Marris, warn that the Reagan Administration should be worried about a precipitous fall in the value of the dollar. In a world of freely floating exchange rates, the dollar could drop just as far during...
ALMOST 2000 graduating Business School students won't go to Commencement this year. While the Masters of Business Administration (MBA) graduates will be there waving their dollar bills and being booed by the crowd, the 1800 corporate professionals who pass through the B-School's executive education programs every year will have already gone back to the business world...