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The Exchange Rate: Economic Policy Tool Or Market Price?

  • Heiner FLASSBECK

The Exchange Rate: Economic Policy Tool or Market Price? The paper reconsiders the failure of mainstream economics to come up with a consistent and valid exchange rate theory. There has been broad consensus among economists for decades that changes in the

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Paper provided by United Nations Conference on Trade and Development in its series UNCTAD Discussion Papers with number 157.

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Date of creation: 2002
Date of revision:
Handle: RePEc:unc:dispap:157
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  1. Reinhart, Carmen & Calvo, Guillermo, 2002. "Fear of floating," MPRA Paper 14000, University Library of Munich, Germany.
  2. Dilip K. DAS, 2000. "Asian Crisis: Distilling Critical Lessons," UNCTAD Discussion Papers 152, United Nations Conference on Trade and Development.
  3. Guillermo A. Calvo & Carmen M. Reinhart, 2000. "Fixing for Your Life," NBER Working Papers 8006, National Bureau of Economic Research, Inc.
  4. Maurice Obstfeld, 2003. "International Macroeconomics: Beyond the Mundell-Fleming Model," International Finance 0303006, EconWPA.
  5. Barry Eichengreen & Ricardo Hausmann, 1999. "Exchange rates and financial fragility," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 329-368.
  6. Maurice Obstfeld & Kenneth S. Rogoff, 1996. "Foundations of International Macroeconomics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262150476, June.
  7. Fama, Eugene F, 1970. "Efficient Capital Markets: A Review of Theory and Empirical Work," Journal of Finance, American Finance Association, vol. 25(2), pages 383-417, May.
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