There has been considerable interest in recent years in the possibility of hardening the SDR, motivated by the desire for an international yardstick of monetary stability. This paper explores various ideas aimed at hardening the SDR in the light of the previous debate on the valuation of the...

The most widely used specification of the import demand function is that in which the quantity of imports is explained by the price level of imports, the price level of domestically produced goods, and the level of income. This paper contends that this formulation of import functions, although...

There has been considerable interest in recent years in the possibility of hardening the SDR, motivated by the desire for an international yardstick of monetary stability. This paper explores various ideas aimed at hardening the SDR in the light of the previous debate on the valuation of the...