The Adjustment Mechanism
收藏NBER1991-12-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w3943
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资源简介：
This paper studies the mechanisms of international payments adjustment at work under the Bretton Woods system of fixed exchange rates, 1945 to 1971. I argue that two market failures, imperfect international capital mobility and imperfect wage-price flexibility, are central to understanding the
提供机构：
美国国家经济研究局
创建时间：
1991-12-01
