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The Band Proposal
Before World War II
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87th Congress adjustable-peg system Balance of Payments balance-of-payments bancor band proposal bank rate Bretton Woods broadened band buying and selling capital flow cent central banks changes compromise deficit country disequilibrating capital movements dollar Egon Sohmen exchange-rate flexibility export external equilibrium fixed exchange rates fixed parities fixed rates flexible exchange rates flexible rates fluctuating exchange rates foreign exchange foreign-exchange markets freely fluctuating exchange gold parities gold points gold standard greater exchange-rate Ibid interest rates interest-rate differentials International Clearing Union International Finance Section International Monetary Fund international payments system John Maynard Keynes limits of permissible liquidity ment monetary authorities monetary policies national economic policies Papers in International peg adjustments permanently fixed exchange permissible exchange-rate variations permitted price of gold private capital problem Ragnar Nurkse rate of exchange rate of interest rate variations short-term capital movements Special Papers stability support points surplus country system of freely tion tional trade United States Balance