Misalignment of exchange rates: effects on trade and industry
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Bibliographische Detailangaben
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Chicago University of Chicago Press 1988
Schriftenreihe:National Bureau of Economic Research project report
Schlagworte:
Online-Zugang:Volltext
Beschreibung:"Proceedings of a conference ... sponsored by the National Bureau of Economic Research and held in Cambridge, Massachusetts, on 7-8 May, 1987"--Pref
Includes bibliographical references and indexes
Misalignment of Exchange Rates: Effects on Trade and Industry; Contents; Preface; Introduction; 1. Sources of Misalignment in the 1980s; 2. Sterling Misalignment and British Trade Performance; 3. Exchange Rate Variability, Misalignment, and the European Monetary System; 4. Realignment of the Yen-Dollar Exchange Rate: Aspects of the Adjustment Process in Japan; 5. Roundtable on Exchange Rate Policy; 6 . Monopolistic Competition and Labor Market Adjustment in the Open Economy; 7. On the Effectiveness of Discrete Devaluation in Balance of Payments Adjustment
Economists writing on flexible exchange rates in the 1960s foresaw neither the magnitude nor the persistence of the changes in real exchange rates that have occurred in the last fifteen years. Unexpectedly large movements in relative prices have lead to sharp changes in exports and imports, disrupting normal trading relations and causing shifts in employment and output. Many of the largest changes are not equilibrium adjustments to real disturbances but represent instead sustained departures from long-run equilibrium levels, with real exchange rates remaining "misaligned" for years a
Beschreibung:1 Online-Ressource (x, 318 p.)
ISBN:0226507254
9780226507255
0226507238
9780226507231

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