Exchange Rate Rules and Macroeconomic Stability

Rüdiger Dornbusch

Chapter 3 in Exchange Rate Rules, 1981, pp 55-67 from Palgrave Macmillan

Abstract: Abstract This paper discusses exchange rate rules in their role as macroeconomic instruments. We abstract throughout from the trend part of exchange rate behaviour — a crawling peg necessitated by differences in trend inflation — and emphasise instead the implications of exchange rate rules in providing flexibility of real wages or in affecting the stability of output or prices.

Keywords: Exchange Rate; Real Exchange Rate; Real Wage; Trade Balance; Relative Prex (search for similar items in EconPapers)
Date: 1981
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Working Paper: Exchange Rate Rules and Macroeconomic Stability (1980)
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DOI: 10.1007/978-1-349-05166-3_3

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