Transatlantic policy coordination with sticky labour markets : the reality of the real side / A.J. Hughes Hallett and Yue Ma -- Discussion / Nouriel Roubini -- Foreign exchange intervention and international policy coordination : comparing the G3 and EMS experience / Axel A. Weber -- Discussion...

This paper analyzes Krugman's contention that there is a "gold standard paradox" in the speculative attack literature. The paradox occurs if a country's currency appreciates after it runs out of gold or equivalently if a speculative attack can happen only after the country "naturally" runs out...