This paper reviews the impact of liberalization of intra-European trade in the framework of the Organization for European Economic Cooperation (OEEC). Commercial relations have been most intensive between the industrialized countries of Western Europe, which have carried on a considerable trade...

This paper outlines the payment agreements and trade agreements. Resident inconvertibility in relation to other inconvertible countries is largely organized on the basis of bilateral trade agreements establishing quotas for imports, exports, and invisibles, and of the Organization for European...

This paper focuses on the IMF's credit policy and the balance of payments. The attempts at simplicity in the construction of the IMF's models have necessarily involved recognizing the fact that models for different types of countries had to bring out different main features. In models for...

This paper discusses the implications for credit policy of changes in the income velocity of money; it neglects other policy elements of financial programs unless they have a direct bearing on velocity changes. Control over credit expansion by domestic banks is used to influence expenditure...

The purpose of the present study is to review these concepts and to estimate consistent series of potential output in manufacturing for Canada, the United States, Japan, France, the Federal Republic of Germany, Italy, the United Kingdom, and Sweden for the period 1955-1975. Potential output...

This chapter focuses on the impact of monetary and fiscal policy under the flexible exchange rates and alternative expectations structures. Several economists have argued that, to understand recent exchange rate movements, one must examine the process by which exchange rate expectations are...

This paper provides an analysis of attempts at international coordination of national policies leads to the conclusion that true international action that has a good chance to succeed for specific measures, such as changes in exchange rates, customs tariffs, and perhaps discount rates. There is,...

This paper explains contribution of the September 1949 devaluations to the solution of Europe's dollar problem. After the devaluations, the dollar value of exports to the United States from the devaluing countries in Europe recovered from the low levels of the second and third quarters of 1949,...

This paper discusses various foreign payments practices in the United States. Most foreign payments in the United States are, therefore, done along traditional lines in whatever manner. Several nontraditional practices, however, have developed in recent years as the result of trade and payments...

This paper focuses on current issues on the transmission process of monetary policy. The main process by which monetary forces influence the real economy in Keynesian income/expenditure models is through the cost-of-capital channel. In addition to the cost-of-capital channel, post-Keynesians...