Money, Trade, and Competition

by Giersch, Herbert

• ISBN13: 9783642772696
• ISBN10: 3642772692
• Edition: Reprint
• Format: Paperback
• Copyright: 2011-12-08
• Publisher: Springer Verlag

Summary

This volume examines key aspects of international economictheory and policy. Six papers deal with money and exchangerates. They discuss historical evidence on free banking, thequestion whether speculation in foreign exchange markets isstabilizing or destabilizing, the insulation properties offlexible exchange rates, the economics of the Louvre Accord,some basic issues of the German Monetary Union and themerits offinancial liberalization in developing countries.Five papers deal with international trade. They focus on theintegration of fiscal policy into thetheory ofinternational trade, theoretical aspects of internationalfactor flows, the relation between trade restrictions andexchange rates, the recent shift of the United States' tradepolicy toward agressive unilateralism and the theory andpractice of commercial policies since 1945. Of the remainingtwo papers, one discusses basic concepts of welfareeconomies while the other reassesses the vital link betweencompetition and economic growth. The contributors includeinternationally renowned scholars. The volume is dedicatedto the memory of Egon Sohmen, who was one of the prominentearly advocates of flexible exchange rates.