The Quarterly Journal of Economics · 1960 · 434 citations · 0 references
Social SciencesEconomicsInternational EconomicsMacroeconomicsMonetary EconomicsExchange Rate DeterminationExchange Rate PolicyExchange RatesForeign Exchange MarketsInternational Monetary SystemsMonetary PolicyDynamic Systems ApproachFlexible Exchange Rate SystemsFlexible Exchange RatesForeign Exchange AdjustmentForeign Exchange Reserve AccumulationMacroeconomic Adjustment Under Fixed Exchange RatesMonetary DynamicsMonetary Policy Dynamics
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. — VII. Concluding remarks, 249. — Appendix, 251.