Floating exchange rates and national economic policy /

Includes bibliographical references and index.

This book uses Sweden and France as examples of fixed exchange rate regimes, and the United States, the
United Kingdom and West Germany as examples of floating exchange rate regimes. It reviews the 1972-1976 period in terms of this traditional argument for floating. Its main conclusions are that floating benefits countries whose institutions for forming monetary policy are strong, e.g. West Germany, while the converse may be true for countries where
the opposite applies, such as the United Kingdom, where he argues exchange rate flexibility may have destabilized domestic monetary and fiscal policies in the absence of the discipline of a balance of payments constraint.

usc 09/08/18

Loans