The case against floating exchanges /

By:

Einzig, Paul

Material type: Text

TextPublication details: London : Macmillan, c1970.Description: xi, 211 pISBN:

0333100441

Subject(s):

DDC classification:

332.45 EIN

LOC classification:

HG3851 .E35

Summary: This defines flexible exchange rate system as the exchange that allows the market forces of supply and demand, free from government intervention, to determine rates. It is with this extreme form of flexibility that Dr. Einzig is most concerned. He asserts that supporters of a floating exchange rate system feel that exchange rates have a tendency to move to a position where imports and exports balance, and states that the primary objective of his book is to "prove that the rate at which supply and demand balance in the foreign exchange market is almost inevitably quite different from the rate at which imports and exports would balance" (pp. viii-ix). The author points out that there are several types of transactions in the foreign exchange market (commercial, capital, speculative, and arbitrage) and that the expectation that capital, speculative, and arbitrage transactions "might happen to balance at the same figure as commercial transactions" is "so remote as to be virtually non-existent" .

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Holdings
Item type	Current library	Collection	Call number	Status	Date due	Barcode
Monograph & others	CBN HQ Library General Stacks	Non-fiction	332.45 EIN (Browse shelf(Opens below))	Available		31008100125224

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Previous	332.45 ECU The ECU as an investment currency /	332.45 EIN A dynamic theory of forward exchange /	332.45 EIN Leads and lags:	332.45 EIN The case against floating exchanges /	332.45 EVI Exchange and trade control in theory and practice /	332.45 GAR Sterling-dollar diplomacy :	332.45 GRU Forward Exchange, Speculation, and the International Flow of Capital /	Next

Includes index.

Includes bibliographical references: p. 207-208

This defines flexible exchange rate system as the exchange that
allows the market forces of supply and demand, free from government intervention, to determine rates. It is with this extreme form of flexibility that Dr. Einzig is most concerned. He asserts that supporters of a floating exchange rate system feel that exchange rates have a tendency to move to a position where imports and exports balance, and states that the primary
objective of his book is to "prove that the rate at which supply and demand balance in the foreign exchange market is almost inevitably quite different from the rate at which imports and exports would balance" (pp. viii-ix). The author points out that there are several types of transactions in the foreign exchange market (commercial, capital, speculative, and arbitrage) and that the expectation that capital, speculative, and arbitrage transactions "might happen to balance at the same figure as commercial transactions" is "so remote as to be virtually non-existent" .

usc 08/05/2018

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