International Liquidity and the Balance of Payments of a Reserve-Currency Country

Peter Kenen

The Quarterly Journal of Economics, 1960, vol. 74, issue 4, 572-586

Abstract: I. The framework of a simpre gold-exchange standard, 572. — II. The system's response to changes in the gold content of reserves, 573. — III. The stability of the system, 579. — IV. Implications for policy, 582. —Appendix: piivate balances and the stability of the system, 583.

Date: 1960
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