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Exchange rates and balance-of-payments adjustment - General principles and some recent examples

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  • William A Allen
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    Abstract

    In the context of the widespread adoption of flexible exchange rates, the purposes of this paper are, first, to go over the well-tilled ground of the principles of balance-of-payments adjustment, trying to interpret these principles in ways relevant to current conditions, and second to discuss some recent cases in which balance-of-payments adjustment policies have been used. The paper offers a number of conclusions about the role of exchange rates in balance-of-payments adjustment.

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    File URL: http://www.bis.org/publ/work3.pdf
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    File URL: http://www.bis.org/publ/work3.htm
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    Bibliographic Info

    Paper provided by Bank for International Settlements in its series BIS Working Papers with number 3.

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    Length: 52 pages
    Date of creation: Jul 1980
    Date of revision:
    Handle: RePEc:bis:biswps:3

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