Ebook: Strained Relations: US Foreign-Exchange Operations and Monetary Policy in the Twentieth Century
- Tags: Macroeconomics Economics Business Money Monetary Policy International Foreign Exchange Psychology Counseling Adolescent Applied Child Creativity Genius Developmental Experimental Forensic History Medicine Mental Illness Neuropsychology Occupational Organizational Pathologies Personality Physiological Aspects Psychiatry Psychoanalysis Psychopharmacology Psychotherapy TA NLP Reference Research Sexuality Social Interactions Testing Measurement Health Fitness Dieting Africa Americas Arctic Antarctic
- Series: National Bureau of Economic Research Monograph
- Year: 2015
- Publisher: University Of Chicago Press
- Language: English
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During the twentieth century, foreign-exchange intervention was sometimes used in an attempt to solve the fundamental trilemma of international finance, which holds that countries cannot simultaneously pursue independent monetary policies, stabilize their exchange rates, and benefit from free cross-border financial flows. Drawing on a trove of previously confidential data, Strained Relations reveals the evolution of US policy regarding currency market intervention, and its interaction with monetary policy. The authors consider how foreign-exchange intervention was affected by changing economic and institutional circumstances—most notably the abandonment of the international gold standard—and how political and bureaucratic factors affected this aspect of public policy.
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