The Young Robert Triffin’s Criticism of Purchasing Power Parity Theory

La critique de la théorie de la parité de pouvoir d’achat par le jeune Robert Triffin

Ivo Maes and Ilaria Pasotti
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Ivo Maes: UCL - Université Catholique de Louvain = Catholic University of Louvain

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Abstract: As a young economist, Robert Triffin made the calculations for the 1935 devaluation of the Belgian franc and in 1946 he was involved in the IMF's studies of the "initial par values". He was a sceptic of Cassel's purchasing power parity theory. His approach was based on the Louvain analyses of business cycles, with a distinction between sheltered and non-sheltered sectors and an emphasis on disequilibria, as well as his Harvard work on international trade, general equilibrium and imperfect competition theory.

Keywords: Robert Triffin; La théorie de la parité de pouvoir d’achat; Taux de changes; Commerce international; Théorie des cycles économiques; Louvain; Harvard; Purchasing power parity theory; Exchange rates; International economics; Business cycle theory (search for similar items in EconPapers)
Date: 2024-07-12
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Published in Revue d'histoire de la pensée économique, 2024, 2024-1 (17), pp.187-216. ⟨10.48611/isbn.978-2-406-17116-4.p.0187⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05000574

DOI: 10.48611/isbn.978-2-406-17116-4.p.0187

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