International economic equilibrium and foreign exchange rates
| Autor: | MOSSÉ, R. |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2014 |
| Předmět: | |
| DOI: | 10.13133/2037-3643/12669 |
| Popis: | The article takes up a decisively critical position with regard to monetary devaluations as a remedy for the disequilibrium of international payment accounts. The author makes a theoretical examination of the effects of exchange rate variations under a fully planned economy, in a socialist economy based on price mechanism, in a free or quasi-free economy, and under a mixed system; and in support of his thesis he discusses the practical results obtained, comparing the variations of exchange rates in Great Britain and France during the inter-war period. In his opinion, the favour still enjoyed by the system of currency devaluations - “undoubtedly a tempting method for the government” - is partly due to tenacious delusions still surviving on spontaneous automatism, and partly to vested interests that find in devaluation profit opportunities. JEL: F31, F32 PSL Quarterly Review, V. 3, N. 12 (1950) |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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