The Theory of Optimum Currency Areas and Exchange-rate Flexibility, Issues 9-14International Finance Section, Department of Economics, Princeton University, 1976 - Business & Economics - 98 pages |
Contents
CONSTRAINTS IMPOSED BY MEMBERSHIP IN A CURRENCY AREA | 15 |
FACTORS AFFECTING THE EASE OF ADJUSTMENT UNDER FIXED | 27 |
SYNTHESIS | 69 |
Copyright | |
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adjustment under fixed argued argument balance of payments balance-of-payments CALIFORNIA/SANTA CRUZ capital flows conclusion cost of adjustment countries crawling peg CRUZ The University currency-area formation deficit degree diversified domestic currency effects efficiency exchange-rate adjustment exchange-rate change exchange-rate flexibility exchange-rate systems expenditure schedule exports external balance external disturbances fiscal policy fixed and flexible fixed exchange rates fixed rates flexible exchange rates flexible rates floating exchange rates floating rates foreign foreign-exchange market freely floating exchange greater high capital mobility high elasticities increase inflation interest rate joining a currency Kenen labor mobility macroeconomic macroeconomic policy McKinnon monetary policy money illusion Mundell open economies open the economy optimal optimum currency areas payments imbalances Phillips curve price flexibility price level real income reduce region SANTA CRUZ stabilization policy tend terms of trade trade balance transmission mechanism unemployment University Library UNIVERSITY UNIVERSITY OF CALIFORNIA UNIVERSITY OF CALIFORNIA/SANTA variable exchange rates wage and price Willett