Leading issues in international economic policy/
Leading issues in international economic policy/
- Lexington, Massachsetts: Lexington Books, [1973]
- xx, 217 p.:ill,
Essays in honor of George N. Halm.
Includes bibliographical references and index.
The first chapter in this book traces the development of the exchange rate issue through the history of the IMF, describes the weaknesses of the mechanism constructed at Bretton Woods and its breakdown in the late 1960s. The second paper analyzes the most relevant case in existence: the "trotting peg" which has been maintained by Brazil since 1968. The third paper focuses on the critical importance of "money illusion" in the analysis of international (as well as domestic) monetary phenomena, and concludes that money can function effectively in an international context only if it is sufficiently stable to justify such illusion e.g. a strong argument against flexible exchange rates, at least for those currencies (particularly the dollar) widely used in international finance.
066986868X
Halm, George N.
International finance.
International economic relations.
HG3881 / .L39
332.4'5 / LEA
Essays in honor of George N. Halm.
Includes bibliographical references and index.
The first chapter in this book traces the development of the exchange rate issue through the history of the IMF, describes the weaknesses of the mechanism constructed at Bretton Woods and its breakdown in the late 1960s. The second paper analyzes the most relevant case in existence: the "trotting peg" which has been maintained by Brazil since 1968. The third paper focuses on the critical importance of "money illusion" in the analysis of international (as well as domestic) monetary phenomena, and concludes that money can function effectively in an international context only if it is sufficiently stable to justify such illusion e.g. a strong argument against flexible exchange rates, at least for those currencies (particularly the dollar) widely used in international finance.
066986868X
Halm, George N.
International finance.
International economic relations.
HG3881 / .L39
332.4'5 / LEA