Comments on Robert Z. Aliber’s Paper ‘Structural Change, Monetary Policy and the Foreign Exchange Value of the Pound’

Kate Phylaktis

A chapter in Monetarism in the United Kingdom, 1984, pp 233-237 from Palgrave Macmillan

Abstract: Abstract In these comments on Robert Aliber’s paper it will be argued that ‘overvaluation’, as defined and examined by Robert Aliber, is an erroneous and misleading concept. On the basis of that, his paper is reduced to an examination of the determination of the value of the pound during the period 1976–80. As such he produces evidence which is not based on a rigorous understanding of the theory underlying the determination of exchange rates.

Date: 1984
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DOI: 10.1007/978-1-349-06284-3_17

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