The switch to floating exchange rates during the 1970s has given economists the first comprehensive opportunity to assess the arguments for and against floating. Much new work has been done on various aspects of floating exchange rate behaviour. This article attempts a limited survey of the...

Oil price increases and the persistent OPEC current account surpluses were considered the main problems of economic development in many industrial and developing countries long after the first oil crisis. Since 1983, however, the OPEC surpluses have been completely absorbed and the official base...

The international competitiveness of German industry, so greatly dependent on exports, is in large measure determined both by fluctuations in the rate of exchange and by the level of its labour costs in relation to those of its competitors in the world market. Recent trends in these two factors...

Since the introduction of the system of floating exchange rates policy-makers have been troubled by uncertainties regarding the effects of this system on international trade. Do exchange rate changes affect trade flows? Can governments manipulate exchange rates? Have countries been “injured”...

The US-Dollar has inflated the world. Its vehicle is the present international monetary system of pegged exchange rates. This system which was introduced to stimulate International trade and division of labour between the different countries became an important promoter of world wide inflation.

Disagreement on appropriate policies to reduce the American balance of payments deficit has been a major source of friction between the US, on the one hand, and the Federal Republic of Germany and Japan, on the other. Against this background Professor Bronfenbrenner Presents a theoretical...

In the past, the protection of agriculture in the EU from exchange rate instability was accomplished at the cost of confusing regulations, welfare losses and the discrimination of other sectors. Will the 1993 reform of the Agri-Monetary System, combined with wide 15% European Monetary System...

The Swiss National Bank’s January 2015 decision to abandon the Swiss franc’s peg to the euro led to short-term chaos in exchange markets and had a dampening effect on the Swiss economy. Some economists suggested Switzerland was poised to enter a sustained period of stagnation à la Japan....