Strained Relations

US Foreign-Exchange Operations and Monetary Policy in the Twentieth Century

Business & Finance, Economics, International Economics, Macroeconomics
Cover of the book Strained Relations by Michael D. Bordo, Owen F. Humpage, Anna J. Schwartz, University of Chicago Press
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Michael D. Bordo, Owen F. Humpage, Anna J. Schwartz ISBN: 9780226051512
Publisher: University of Chicago Press Publication: March 2, 2015
Imprint: University of Chicago Press Language: English
Author: Michael D. Bordo, Owen F. Humpage, Anna J. Schwartz
ISBN: 9780226051512
Publisher: University of Chicago Press
Publication: March 2, 2015
Imprint: University of Chicago Press
Language: English

During the twentieth century, foreign-exchange intervention was sometimes used in an attempt to solve the fundamental trilemma of international finance, which holds that countries cannot simultaneously pursue independent monetary policies, stabilize their exchange rates, and benefit from free cross-border financial flows. Drawing on a trove of previously confidential data, Strained Relations reveals the evolution of US policy regarding currency market intervention, and its interaction with monetary policy. The authors consider how foreign-exchange intervention was affected by changing economic and institutional circumstances—most notably the abandonment of the international gold standard—and how political and bureaucratic factors affected this aspect of public policy.

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

During the twentieth century, foreign-exchange intervention was sometimes used in an attempt to solve the fundamental trilemma of international finance, which holds that countries cannot simultaneously pursue independent monetary policies, stabilize their exchange rates, and benefit from free cross-border financial flows. Drawing on a trove of previously confidential data, Strained Relations reveals the evolution of US policy regarding currency market intervention, and its interaction with monetary policy. The authors consider how foreign-exchange intervention was affected by changing economic and institutional circumstances—most notably the abandonment of the international gold standard—and how political and bureaucratic factors affected this aspect of public policy.

More books from University of Chicago Press

Cover of the book The Rural Modern by Michael D. Bordo, Owen F. Humpage, Anna J. Schwartz
Cover of the book Shanghai Nightscapes by Michael D. Bordo, Owen F. Humpage, Anna J. Schwartz
Cover of the book The Hidden Game of Baseball by Michael D. Bordo, Owen F. Humpage, Anna J. Schwartz
Cover of the book Murder in Canton by Michael D. Bordo, Owen F. Humpage, Anna J. Schwartz
Cover of the book Boll Weevil Blues by Michael D. Bordo, Owen F. Humpage, Anna J. Schwartz
Cover of the book Educational Goods by Michael D. Bordo, Owen F. Humpage, Anna J. Schwartz
Cover of the book The TVs of Tomorrow by Michael D. Bordo, Owen F. Humpage, Anna J. Schwartz
Cover of the book Make Room for TV by Michael D. Bordo, Owen F. Humpage, Anna J. Schwartz
Cover of the book The Democratic Constitution by Michael D. Bordo, Owen F. Humpage, Anna J. Schwartz
Cover of the book Latin America by Michael D. Bordo, Owen F. Humpage, Anna J. Schwartz
Cover of the book Statesmanship and Party Government by Michael D. Bordo, Owen F. Humpage, Anna J. Schwartz
Cover of the book NBER Macroeconomics Annual 2017 by Michael D. Bordo, Owen F. Humpage, Anna J. Schwartz
Cover of the book Sites of the Unconscious by Michael D. Bordo, Owen F. Humpage, Anna J. Schwartz
Cover of the book The Global Work of Art by Michael D. Bordo, Owen F. Humpage, Anna J. Schwartz
Cover of the book The Myth of Disenchantment by Michael D. Bordo, Owen F. Humpage, Anna J. Schwartz
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