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Balance of Payments Adjustment - Macro Facets of International Finance Revisited (Hardcover)
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Balance of Payments Adjustment - Macro Facets of International Finance Revisited (Hardcover)
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The five parts of this collection of essays systematically and
thoroughly examine the two competing theories of balance of
payments and adjustment, namely the Keynesian and the Monetary
approaches. Each part deals with specific aspects of the two
approaches. Part I surveys the theories behind these two
approaches, looking at the presuppositions, main theory, and policy
recommendations which they include. Part II examines the empirical
literature and describes the numerous models which have been
proposed. Part III critiques the two theories on their assumptions,
policy advice and empirical modeling. Part IV compares and
contrasts the two views, both theoretically and empirically.
Empirical studies on different countries are performed to emphasize
the differing set of accounts and variables of the two approaches.
Part V considers the approaches in a regime of flexible exchange
rates. Scholars, students and researchers will find this collection
of great help in understanding the two approaches to balance of
payments and adjustment.
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