Exchange rates are relative prices of national currencies, and under a floating rate regime they may naturally be viewed as being determined by the interplay of supply and demand in foreign exchange markets. This proposition is uncontroversial, but it provides no more than a starting point for...

<OL><LI>Exchange rates are relative prices of national currencies, and under a floating rate regime they may naturally be viewed as being determined by the interplay of supply and demand in foreign exchange markets. This proposition is uncontroversial, but it provides no more than a starting point for...</li></ol>

The recent book by James R. Vreeland, The International Monetary Fund: Politics of Conditional Lending, is meant to provide “a definitive guide to the organizationâ€. This review article argues that it falls well short of this ambitious aim. It is already somewhat dated. It is almost...

A personal memoir from Christopher Dow, an influential British economist and a key player in the banking establishments of the post-war era. Contains insights and revelations into the issues and protagonists shaping British economic policy in the late 20th Century.

The period since the introduction of generalized floating has been marked by wide variation in the extent of official intervention in foreign exchange markets. This, and the scope for different strategies under international agreements, has made evaluation of these policies difficult. The...