This paper presents a small simulation model that can be used to estimate the medium-run effects of exchange rate changes on the trade balance of a primary producing country. The model is applied to four copper producing countries, Chile, Peru, Zaire, and Zambia. The model can estimate the...

This study addresses major policy issues associated with the future of the international monetary system. It focuses on whether there is a need for fundamental reform of this system, defined as systematic and sustained effort on the part of the three major industrial countries (United States,...

This paper discusses the extent to which national capital markets have become linked, and identifies several of the more important consequences of that increased degree of integration. Alternative approaches to the measurement of capital market integration are reviewed, including deviations from...