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This paper analyzes the behavior of the current account and the exchange rate in the British economy during the 1970's, and discusses the outlook, as influenced by the availability of oil revenues, for exchange rate developments during the 1980's.Both trade and exchange rate behavior are...
Persistent link: https://www.econbiz.de/10012478822
An analogy has been made between the collapse of the Bretton Woods system in 1971 and the recent Eurozone crisis. The build up of TARGET balances in the Eurosystem of Central Banks after 2007 with the GIPS (deficit countries having large liabilities) and Germany (a surplus country) with large...
Persistent link: https://www.econbiz.de/10012458395
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instrument and target variables. The time spans examined are 1962-1998 for the U.S. and U.K., and 1972-1998 for Japan. In …
Persistent link: https://www.econbiz.de/10012471025
empirical characterization of price and wage changes over the last century in the U.S., U.K., and Japan, in order to demonstrate … phenomenon rather than the universal fact implied by Okun. The results for the U.K. and Japan com- pound the conflict with Okun … particularly flexible in the U.S. during World War I and its aftermath, in Japan since 1914, and in the U.K. since the mid-1950s …
Persistent link: https://www.econbiz.de/10012478264
.K. and Japan are between three and 15 times more flexible than in the U.S. during the postwar period. Corresponding to … similar to that in Britain and Japan. The contrast between the prewar data and the postwar data, where the U.S. is a definite …
Persistent link: https://www.econbiz.de/10012478304