Exchange-rate Management in Theory and Practice

Adjustment ratio assets assumption Balance of Payments borrowing Bundesbank cent central banks countries CRUZ The University current-account D₂ debt repudiation depreciation Deutsche mark deviation DFMA domestic effective exchange rate equation equilibrium value Exchange Market exchange-rate exchange-rate changes Exchange-Rate Management Export orders Floating Exchange Rates foreign exchange forward rate free float Government spending I₁ imports increase inflows initial value interest rate interest-rate differential International Economic International Finance Section International Monetary International Monetary Fund INTERVENTION TO CAUSE investment Japan Kenen loan Managed Float monetary authorities monetary policy moving average nontradable numeraire one-way intervention optimal and actual optimal portfolio outpredicted period price levels PRINCETON STUDIES profit Purchasing Power Parity real income reference rate regime regulation Reprinted risk Robert Triffin sector SPECIAL PAPERS spot rate stabilizing sterling STUDIES IN INTERNATIONAL substitution account Table terms of trade Theory tion tradable U.S. dollars United Kingdom