Floating Exchange Rates and the State of World Trade and Payments

David Bigman is currently professor of development economics at the Netherlands University of Wageningen and holds the Chair for Global Food Security and International Trade, served until recently as Senior Research Officer at the International Service for National Agricultural Research, ISNAR, a Future Harvest center of the Consultative Group on International Agricultural Research (CGIAR). Chapter 1 3 Monetary Policy Under Exchange Rate Flexibility -- Rudiger Dornbusch, Massachusetts Institute of Technology Chapter 2 33 Floating as Seen from the Central Bank -- Henry C. Wallich, Member, Board of Governors of the Federal Reserve System Chapter 3 43 Analysis of Short-Run Exchange Rate Behavior: March 1973 to November 1981 -- Michael P. Dooley, International Monetary Fund -- Jeffrey Shafer, Federal Reserve Bank of New York Chapter 4 71 Exchange Rate Determination: Some Old Myths and New Paradigms -- David Bigman, The Hebrew University of Jerusalem Chapter 5 101 The J-Curve, Stabilizing Speculation, and Capital Constraints on Foreign Exchange Dealers -- Ronald I. McKinnon, Stanford University Chapter 6 127 Monetary Policy, the Balance of Payments, and the Exchange Rate -- Pentti J.K. Kouri, New York University and Yale University Chapter 7 161 The Demand for International Reserves under Pegged and Flexible Exchange Rate Regimes and Aspects of the Economics of Managed Float -- Jacob A. Frenkel, University of Chicago and National Bureau of Economic Research Chapter 8 189 Exchange Rate -- Price Causality in the Recent Floating Period -- Masahiro Kawai, The Johns Hopkins University Chapter 9 213 Exchange Rate Instability and Capital Controls: The Japanese Experience, 1978-1981 -- Ichiro Otani, International Monetary Fund Chapter 10 241 The Causes of Export Instability: Comparing the Experience of Two Decades -- Odin Knudsen, World Bank -- Lloyd Harbert, U.S. Department of Agriculture Chapter 11 259 Exchange Rates and the Adjustment Process -- J. de Larosiere, Managing Director of the International Monetary Fund Chapter 12 267 The Exchange Rate as an Instrument of Policy -- Otmar Emminger, President, Deutsche Bundesbank Chapter 13 285 On the Efficiency of the Generalized Floating System -- Hideo Suzuki, Advisor to the President, the Nomura Securities, Co., Ltd. and former Special Advisor to the Minister of Finance, Japan Chapter 14 291 Floating Exchange Rates: A Practical Lesson on the Automaticity of Adjustment Mechanisms -- Guido Carli, President, Confederazione Generale dell'Industria Italiana and former Governor of the Bnak of Italy Name Index 301 Subject Index 305 Epilogue 311 Any views and/or opinions expressed by the Editors in this books are purely their own and do not necessarily represent the views and/or opinions held by any institution that they are presently associated with or have been associated with in the past.Bigman, David is the author of 'Floating Exchange Rates and the State of World Trade and Payments' with ISBN 9781587981296 and ISBN 1587981297.