000			01676cam a2200253 4500
008			700923t1970 enk erb 001 0 eng
020			_a0333100441
040			_aDLC _cDLC
050	0	0	_aHG3851 _b.E35
082	0	0	_a332.45 _bEIN
100	1		_aEinzig, Paul,
245	1	4	_aThe case against floating exchanges /
260			_aLondon : _bMacmillan, _cc1970.
300			_axi, 211 p. :
500			_aIncludes index.
504			_aIncludes bibliographical references: p. 207-208
520			_aThis 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" .
590			_ausc 08/05/2018
591			_aLoans
650		0	_aForeign exchange.
650		0	_aForeign exchange futures.
942			_2ddc _cBOOK
949			_a332.45 EIN
999			_c8368 _d8368