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International Finance Discussion Papers
The International Finance Discussion Papers logo links to the International Finance Discussion Papers home page International Economic Policy: The Role of Exchange Rates
Edwin M. Truman
1989-356  (July 1989)

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.

Full paper(122 KB PDF)

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