Trade and Payments Adjustment under Flexible Exchange Rates: Papers of the Second Annual Conference of the International Economics Study Group

Brussels Tariff Nomenclature constant elasticity of substitution prices including cost, insurance and freight exchange-rate elasticities of output foreign exchange free-on-board prices Front Matter....Pages i-xxiv Optimal Foreign Exchange Market Intervention with Rational Expectations....Pages 1-37 Rigid Real Wages and International Economic Policy....Pages 38-54 Asset-market Determination of Exchange Rates: Initial Empirical and Policy Results....Pages 55-85 Model of an Industrial Country under Fixed and Flexible Exchange Rates....Pages 86-119 The Sensitivity of Industrial Output and Employment to Exchange-rate Changes....Pages 120-151 A Two-parameter Purchasing- power-parity Measure of Arbitrage in International Goods Markets....Pages 152-173 Currency of Invoicing and Forward Covering: Risk-reducing Techniques in British Foreign Trade....Pages 174-196 International Money and Reserves in the World Economy....Pages 197-211 Reciprocity in Trade Negotiations under Flexible Exchange Rates....Pages 212-244 Back Matter....Pages 245-250