| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26874 |
| 来源ID | Working Paper 26874 |
| Harry Johnson\u2019s \u201cCase for Flexible Exchange Rates\u201d \u2013 50 Years Later | |
| Maurice Obstfeld | |
| 发表日期 | 2020-03-23 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | Fifty years ago, Harry G. Johnson published “The Case for Flexible Exchange Rates, 1969,” its title echoing Milton Friedman’s classic essay of the early 1950s. Though somewhat forgotten today, Johnson’s reprise was an important element in the late 1960s debate over the future of the international monetary system. The present paper has three objectives. The first is to lay out the historical context in which Johnson’s “Case” was written and read. The second is to examine Johnson’s main points and see how they stand up to nearly five decades of experience with floating exchange rates since the end of the Bretton Woods system. The third is to review the most recent academic critiques of exchange-rate flexibility and ask how fatal they are to Johnson’s basic argument. I conclude that the essential case for exchange rate flexibility still stands strong. |
| 主题 | International Economics ; International Finance ; International Macroeconomics |
| URL | https://www.nber.org/papers/w26874 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/584547 |
| 推荐引用方式 GB/T 7714 | Maurice Obstfeld. Harry Johnson\u2019s \u201cCase for Flexible Exchange Rates\u201d \u2013 50 Years Later. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w26874.pdf（1155KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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