FLEXIBLE EXCHANGE RATES AND THE STABILIZATION POLI CY flexible exchange rates and stabilization pol i

The shift to greater exchange-rate fiexibity during the early 1970s has created a need to strengthen the theory of flexible exchange rates and to improve its integration with macro theory and stabilization policy analyis. Front Matter....Pages i-vii Approaches To Exchange Rate Analysis—An Introduction....Pages 1-13 Monetary Theory and Policy in an Open Economy....Pages 14-31 Comment on R. N. Cooper, “Monetary Theory and Policy in an Open Economy”....Pages 32-33 Comment on R. N. Cooper, “Monetary Theory and Policy in an Open Economy”....Pages 34-36 Experiences of Flexible Exchange Rates in Earlier Periods: Theories, Evidence and a New View....Pages 37-64 Comment on J. Myhrman, “Experiences of Flexible Exchange Rates in Earlier Periods: Theories, Evidence and a New View”....Pages 65-67 A Monetary Approach To The Exchange Rate: Doctrinal Aspects And Empirical Evidence....Pages 68-92 Comment on J. A. Frenkel, “A Monetary Approach To The Exchange Rate: Doctrinal Aspects and Empirical Evidence”....Pages 93-96 The Exchange Rate, The Balance Of Payments and Monetary and Fiscal Policy Under A Regime of Controlled Floating....Pages 97-116 Comment On M. Mussa, “The Exchange Rate, The Balance of Payments and Monetary and Fiscal Policy Under a Regime of Controlled Floating”....Pages 117-122 The Theory of Flexible Exchange Rate Regimes and Macroeconomic Policy....Pages 123-143 Comment on R. Dornbusch, “The Theory of Flexible Exchange Rate Regimes and Macroeconomic Policy”....Pages 144-147 The Exchange Rate And The Balance of Payments In The Short Run and in The Long Run: A Monetary Approach....Pages 148-172 Comment on P. J. K. Kouri, “The Exchange Rate and the Balance of Payments in The Short Run and in The Long Run: A Monetary Approach”....Pages 173-176 The Firm Under Pegged and Floating Exchange Rates....Pages 177-190 Comment on R. Z. Aliber, “The Firm Under Pegged And Floating Exchange Rates”....Pages 191-194 Exchange-Rate Flexibility and Reserve Use....Pages 195-207 Comment on J. Williamson, “Exchange Rate Flexibility and Reserve Use”....Pages 208-213 World Inflation Under Flexible Exchange Rates....Pages 214-233 Comment on E.-M. Claassen, “World Inflation Under Flexible Exchange Rates”....Pages 234-237 Inflation and the Exchange Rate Regime....Pages 238-251 Comment on W. M. Corden, ‘Inflation and the Exchange Rate Regime’....Pages 252-253 General Discussion: What Have We Learned? Where are the Fundamental Conflicts of Opinion?....Pages 254-280