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The articles in this volume were written in honour of F. A. Hayek
and cover the whole scope of his thought. Many of the essays take
as a starting point Hayek's own writings. The list of distinguished
contributors include: Jacques Rueff, George Halm, Michael Polyani,
Gordon Tullock, Gunter Schmoelders, Friedrich Lutz, Gottfried von
Haberler, Frank Paish, Ludwig Lachmann, Peter Bauer, James
Buchanan, Fritz Machlup and Karl Popper.
The articles in this volume were written in honour of F. A. Hayek
and cover the whole scope of his thought. Many of the essays take
as a starting point Hayek's own writings. The list of distinguished
contributors include: Jacques Rueff, George Halm, Michael Polyani,
Gordon Tullock, Gunter Schmoelders, Friedrich Lutz, Gottfried von
Haberler, Frank Paish, Ludwig Lachmann, Peter Bauer, James
Buchanan, Fritz Machlup and Karl Popper.
Contents: Lecture I: Fundamentals? Exchange rates in the light of Schumpeter but not of Dioletian Lecture II: Preliminaries Friedman's case for flexible exchange rates versus random walks in theory and practice Lecture III: Equilibria? Interest parity and purchasing power parity - which kind of equilibria? Lecture IV: Divergence Process analysis of temporal exchange rate equilibria Lecture V: Stabilization Further results on process equilibria and countervailing forces making for mean reversion Lecture VI: Mere demand and supply Stabilization through bounded interest rates and exchange rate theory "Without the contrivance of macroeconomics" Lecture VII: Non-neutrality I On the nature of money - or: The story of Anacharsis the Scythian, Part I Lecture VIII: Non-neutrality II The story of Anacharsis the Scythian Part II
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