A Guide To International Monetary Economics: Exchange Rate Theories, Systems And Policies
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H. Visser, «A Guide To International Monetary Economics: Exchange Rate Theories, Systems And Policies»
Edward Elgar Publishing | ISBN: 1843765950 | 2005 | PDF | 259 pages | 3.36 MB
“
When the Bretton Woods system of fi xed-but-adjustable exchange rates foundered in March 1973, exchange rates apparently went their own merry way, independent of differences in infl ation rates between countries or of the current account of the balance of payments. A decisive factor was that capital movements developed to such an extent that they soon seemed totally to swamp international payments on account of trade in goods and services.
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