Large and variable errors & omissions indicate inaccuracies in reported data. It follows that reported data constitute inaccurate and potentially unreliable information for policy formation. To the extent that successive data revisions involve substantial alterations in the reported statistics,...

Die Rolle der Wechselkurse: die Vereinbarkeit unterschiedlicher Standpunkte Die Gegensätze unterschiedlicher Auffassungen des Wechselkurses als der durch die Warenmärkte bestimmte, relative Preis des Sozialproduktes einerseits und als der durch die Märkte für Vermögenswerte bestimmte,...

Net international capital movements entail equivalent net resource transfers. Arbitrage in perfectly integrated finan-cial markets instantaneously eliminates yield differentials through valuation adjustments. But the stock adjustments that constitute the essence of net capital movements may also...

Net international capital movements entail equivalent net resource transfers. Arbitrage in perfectly integrated finan-cial markets instantaneously eliminates yield differentials through valuation adjustments. But the stock adjustments that constitute the essence of net capital movements may also...