The monetary approach to the balance of payments (under fixed exchange rates)

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Chapter 15 in The International Monetary System and the Theory of Monetary Systems, 2016, pp 128-136 from Edward Elgar Publishing

Abstract: The Keynesian approach to the balance of payments and the monetary approach to the balance of payments provide very different statements about the determination of the structure of the balance of payments. The monetary approach – initiated by Robert Mundell – is perfectly coherent with the well-established elements of monetary theory. As such, it has to be considered as the theory which allows understanding of the determination of the balance of payments (and, more generally, the determination of prices, monetary flows, and so on).

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2016
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