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Protection and Exchange Rates
Service to Users or Destabilizing?
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Money, Trade, and Competition: Essays in Memory of Egon Sohmen
No preview available - 2011
agreement analysis argument autarky balance of payments borrowers Bretton Woods system Bundesbank business cycles capital exports central banks chartists competition contract curb market currency deficit demand for money deposits destabilizing developing countries dollar domestic Dornbusch East Germany economic growth economists effect efficiency Egon Sohmen equilibrium ex post excess demand exchange-rate factor financial intermediation financial liberalization fiscal policy fixed exchange rates flexible exchange rates foreign exchange market Frankel free banking function future GATT government spending home country ibid import income increase in government industry inflation rates institutional interest rates interventions investment Louvre Accord McKinnon monetary policies money supply Mundell Mundell-Fleming model nontradable paper period political problem production profits protection rate of interest result savings sector speculation spending on current stability subsidy target tariff taxes terms of trade theoretical theory tion tradables transaction costs variable welfare economics West German Wijnbergen world money