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American politicians have even cited the index in their demands for a big appreciation of the Chinese yuan.
As a result, a big appreciation of the dollar cuts GDP growth by around half a point over the following year, according to the Fed's models.
In the other corner many highly respected economists, including Robert Mundell, an economics Nobel prize-winner, and Ronald McKinnon, of Stanford University, strongly argue against a big appreciation of the yuan.The devil to measureEconomists find it devilishly hard to define the "correct value" for a currency.
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Working outdoors has given me a bigger appreciation of the rain, which surprised me.
Since July 2005, when China scrapped its fixed peg to the dollar, the yuan's trade-weighted value has risen by 20%, by far the biggest appreciation of any large economy (see chart 3).
I have such a big appreciation for him.
The Australian dollar has experienced the biggest appreciation against the American dollar this year of all the currencies in the chart.
Mr. Daniels, too, hails his former boss for "timeless" principles like suspicion of big government and appreciation of the importance of individual freedom and opportunity.
We were built for a world of forests and trees, for green grass and blue skies, for mountaintops and big waves, for appreciation of the boundless leaps of the kangaroo and the steady flapping of the wings of the cranes.
But they should not allow their new-found appreciation of big companies to degenerate into a taste for picking national champions.
Mr. Croft shares Mr. Rowader's appreciation of big dividend payouts, but Mr. Croft prefers to obtain them from American companies that do business in places with "pockets of growth that are faster than the U.S.," he said.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com