Exchange-rate Instability

Přední strana obálky
MIT Press, 1989 - Počet stran: 122
In an intriguing synthesis of current theories of international finance, trade, and industrial organization, Paul Krugman presents a provocative analysis of the extraordinary volatility of exchange rates in the 1980s.

Krugman focuses on imperfect integration of the world economy, showing how this has become both a cause and effect of exchange rate instability. He outlines the costs and benefits of recent flexible-exchange rate policies and offers fresh insight into why the models that worked in the first half of the 1980s don't work in the growing uncertainty of the latter half. Krugman's analysis is succinct and accessible, with technical appendixes that offer powerful backing to his ideas.

Exchange Rate Instability contains a surprising reevaluation of the author's own work on exchange rates. Krugman questions the need for further devaluation of the dollar, arguing that uncertainty - rather than the lack of cost­competitiveness explains the failure of current policies to reduce the United States trade deficit. He proposes an eventual return to fixed exchange rates.

Paul R. Krugman is Professor of Economics at MIT Exchange Rate Instability inaugurates the Lionel Robbins Lectures series.

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O autorovi (1989)

Paul Krugman was born on February 28, 1953. He received a B.S. in economics from Yale University in 1974 and a Ph.D from MIT in 1977. From 1982 to 1983, he worked at the Reagan White House as a member of the Council of Economic Advisers. He taught at numerous universities including Yale University, MIT, UC Berkeley, the London School of Economics, and Stanford University before becoming a professor of economics and international affairs at Princeton University in 2000. He has written over 200 scholarly papers and 20 books including Peddling Prosperity; International Economics: Theory and Policy; The Great Unraveling; and The Conscience of a Liberal. Since 2000, he has written a twice-weekly column for The New York Times. He received the 1991 John Bates Clark Medal and the 2008 Nobel Memorial Prize in Economic Sciences. His title End This Depression Now! made The New York Times Best Seller List for 2012.

Paul Krugman is Professor of Economics and International Affairs at Princeton University and a New York Times columnist. He was awarded the Nobel Prize for Economics in 2008.

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