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A Theory of Optimum Currency Areas
It is patently obvious that periodic balance-of-payments crises will remain an integral feature of the international economic system as long as fixed exchange rates and rigid wage and price levels
Inflation and Real Interest
  • R. Mundell
  • Economics
    Journal of Political Economy
  • 1 June 1963
THE theory of interest under inflation needs further investigation. Irving Fisher's analysis, which concluded that the money rate of interest rises by the anticipated rate of inflation or falls by
The Monetary Dynamics of International Adjustment under Fixed and Flexible Exchange Rates
I. Introduction, 227. — II. The static system, 229. — III. The dynamic systems, 233. — IV. The crucial role of capital movements, 237. — V. Foreign exchange reserves, 242. — VI. Speculation, 246. —
The Appropriate Use of Monetary and Fiscal Policy for Internal and External Stability
Cette A©tude traite des problA¨mes que pose la rA©alisation de la stabilitA© intA©rieure et de l'A©quilibre de la balance des paiements dans un pays qui estime inopportun de modifier le taux de
American Economic Association A Theory of Optimum Currency Areas
It is patently obvious that periodic balance-of-payments crises will remain an integral feature of the international economic system as long as fixed exchange rates and rigid wage and price levels
The Appropriate Use of Monetary and Fiscal Policy under Fixed Exchange Rates
This paper deals with the problem of achieving internal stability and balance-of-payments equilibrium in a country that considers it inadvisable to alter the exchange rate or to impose trade
Flexible Exchange Rates And Employment Policy
The theory of employment that grew out of the Great Depression was not long in influencing government policy-makers and revolutionizing older concepts of fiscal policy. The most important of Keynes's
The international disequilibrium system
SUMMARY Most of the important generalizations of international trade theory that owe their origin to the classical school are long-run and static in nature, implicitly assuming that disequilibrium
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