Balance of Payments

Theory and Economic Policy

Business & Finance, Economics, International
Cover of the book Balance of Payments by Robert Stern, Taylor and Francis
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Robert Stern ISBN: 9781351314947
Publisher: Taylor and Francis Publication: July 28, 2017
Imprint: Routledge Language: English
Author: Robert Stern
ISBN: 9781351314947
Publisher: Taylor and Francis
Publication: July 28, 2017
Imprint: Routledge
Language: English

An original and systematic synthesis of the major postwar developments in theory and policy of balance-of-payments adjustment, this book focuses on the present-day system of pegged-but-adjustable exchange rates and the problems that policy authorities must face if they are to attain full employment, price stability, balance-of-payments equilibrium, and a satisfactory rate of economic growth. The dominate theme of this book is that any system of exchange rates carries with it assumptions about the way it works and how effective the automatic and policy-motivated forces operate to bring about equilibrium in a country's balance of payments. By analyzing balance-of-payments adjustment and policies under alternative exchange-rate systems, and with different assumptions concerning the level of employment and prices, it is possible to embrace a wide variety of contemporary and historical circumstances experienced by individual countries and the world as a whole. In this way the author assesses the economic consequences of the different exchange-rate systems and of the policies that countries may follow to attain their national objectives. In particular it appears to Professor Stern that the international monetary turmoil of the past ten years can be traced to the exchange-rate inflexibilities of the adjustable-peg system and to the creation of excessive reserves under the dollar standard. He demonstrates that the international monetary system must be redesigned to permit greater exchange-rate inflexibility and control over the creation of new international reserve assets.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

An original and systematic synthesis of the major postwar developments in theory and policy of balance-of-payments adjustment, this book focuses on the present-day system of pegged-but-adjustable exchange rates and the problems that policy authorities must face if they are to attain full employment, price stability, balance-of-payments equilibrium, and a satisfactory rate of economic growth. The dominate theme of this book is that any system of exchange rates carries with it assumptions about the way it works and how effective the automatic and policy-motivated forces operate to bring about equilibrium in a country's balance of payments. By analyzing balance-of-payments adjustment and policies under alternative exchange-rate systems, and with different assumptions concerning the level of employment and prices, it is possible to embrace a wide variety of contemporary and historical circumstances experienced by individual countries and the world as a whole. In this way the author assesses the economic consequences of the different exchange-rate systems and of the policies that countries may follow to attain their national objectives. In particular it appears to Professor Stern that the international monetary turmoil of the past ten years can be traced to the exchange-rate inflexibilities of the adjustable-peg system and to the creation of excessive reserves under the dollar standard. He demonstrates that the international monetary system must be redesigned to permit greater exchange-rate inflexibility and control over the creation of new international reserve assets.

More books from Taylor and Francis

Cover of the book Noricum (Routledge Revivals) by Robert Stern
Cover of the book The Information Society by Robert Stern
Cover of the book (Il)liberal Europe: Islamophobia, Modernity and Radicalization by Robert Stern
Cover of the book A Dented Image by Robert Stern
Cover of the book The Sustainable Self by Robert Stern
Cover of the book How Economists Model the World into Numbers by Robert Stern
Cover of the book Tactical Constructivism, Method, and International Relations by Robert Stern
Cover of the book THE ADOBE PHOTOSHOP LAYERS BOOK by Robert Stern
Cover of the book Fundamentals of Arabic Grammar by Robert Stern
Cover of the book International Cooperation to Suppress Terrorism (RLE: Terrorism & Insurgency) by Robert Stern
Cover of the book The Shame Experience by Robert Stern
Cover of the book Culture by Robert Stern
Cover of the book The Medieval Greek Romance by Robert Stern
Cover of the book Semantics and Social Science by Robert Stern
Cover of the book Handbook of Business Interest Associations, Firm Size and Governance by Robert Stern
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy