The effect of an economy's growth on its balance of payments has been a subject which has received a good deal of attention in the recent literature in international economics. Much of this attention derives from general dissatisfaction with the theoretical and empirical aspects of the standard...

It is the purpose of the present paper to consider, in the context of a continuous time macroeconomic model, how the explicit consideration of the existence of adjustment costs(including foregone consumption) which preclude instantaneous changes in the level of certain stock variables modifies...

As the title suggests, the purpose of this paper is to present a broad survey of recent theoretical developments relating to exchange rate management and exchange rate systems, and to suggest some possible implications for the formulation of exchange rate policy.

In this essay I explore the implications of regional economic integration for the currency arrangements appropriate within and between regions. This topic is motivated by the recent rekindling of interest in fixed exchange rates which, in turn, has been due in part to disappointment in the...