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International economic policy: the role of exchange rates

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  • Edwin M. Truman

Abstract

This paper examines the role of exchange rate changes in the international economic adjustment and policy process. The pre-1973 academic literature on flexible exchange rates is examined in light of the experience since 1973. Some thoughts on the efficacy and appropriate role of exchange rate changes in the international economy are then presented.

Suggested Citation

  • Edwin M. Truman, 1989. "International economic policy: the role of exchange rates," International Finance Discussion Papers 356, Board of Governors of the Federal Reserve System (U.S.).
    • Handle: RePEc:fip:fedgif:356
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    References listed on IDEAS

    as
    1. Peter Hooper & Catherine L. Mann, 1989. "Exchange Rate Pass-through in the 1980s: The Case of U.S. Imports of Manufactures," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 20(1), pages 297-337.
    2. Harry G. Johnson, 1969. "The case for flexible exchange rates, 1969," Review, Federal Reserve Bank of St. Louis, vol. 51(June), pages 12-24.
    3. McKinnon, Ronald I, 1988. "Monetary and Exchange Rate Policies for International Financial Stability: A Proposal," Journal of Economic Perspectives, American Economic Association, vol. 2(1), pages 83-103, Winter.
    4. Kenen, Peter B, 1969. "Round Table on Exchange Rate Policy," American Economic Review, American Economic Association, vol. 59(2), pages 362-364, May.
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