THE RELEVANCE OF PAUL KRUGMAN’S REVELATIONS ON EXCHANGE RATE EXPERIENCES: A REVIEWD Sambandhan The Icfai Journal of Applied Economics, 2006, vol. V, issue 4, pages 67-72 Abstract: This article attempts to capture the essential flavor of the third Lionel Robbins Memorial Lecture (1989) rendered by Paul Krugman (of the MIT), currently a leading figure in the field of international trade and finance. The paper draws attention to the fresh insights shown by Krugman into the intricacies of the functioning of floating exchange rates during the 1980s, which is quite at variance with the earlier perception of Ronald McKinnon and R A Mundell, steeped in the framework of the perfectly integrated world economy. Paul Krugman’s emphasis on the relevance of old Keynes-Meade Model has got a contemporary policy significance and the failure to ignore his economic prescription by the US would prove to be as disastrous to itself as it would to the world economy. There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Access Statistics for this article More articles in The Icfai Journal of Applied Economics from ICFAI Press |
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