Strained Relations: US Foreign-Exchange Operations and Monetary Policy in the Twentieth Century - Couverture rigide

Bordo, Michael D.; Humpage, Owen F.; Schwartz, Anna J.

Couverture rigide

ISBN 10 : 022605148X ISBN 13 : 9780226051482

Editeur : University of Chicago Press, 2015

Synopsis

During the twentieth century, foreign-exchange intervention was sometimes used in an attempt to solve the fundamental trilemma of international finance, which holds that countries cannot simultaneously pursue independent monetary policies, stabilize their exchange rates, and benefit from free cross-border financial flows. Drawing on a trove of previously confidential data, Strained Relations reveals the evolution of US policy regarding currency market intervention, and its interaction with monetary policy. The authors consider how foreign-exchange intervention was affected by changing economic and institutional circumstances--most notably the abandonment of the international gold standard--and how political and bureaucratic factors affected this aspect of public policy.

A propos du livre

À propos des auteurs

Michael D. Bordo is professor of economics at Rutgers, the State University of New Jersey, and a research associate of the NBER.

Owen F. Humpage is a senior economic advisor in the Research Department of the Federal Reserve Bank of Cleveland.

Anna J. Schwartz (1915 2012) was a research associate of the NBER.

Détails de l'édition

• Éditeur: University of Chicago Press
• Date d'édition: 2015
• Langue: anglais
• ISBN 10: 022605148X
• ISBN 13: 9780226051482
• Reliure: Relié
• Nombre de pages: 496
• Coordonnées du fabricant: The University of Chicago Press; https://press.uchicago.edu/index.html; ; 5801 S. Ellis Avenue; Chicago; IL; 60637; Etats-Unis
• Personne responsable: non disponible