Turbulence in the Foreign Exchange Markets and Macroeconomic Policies

  • Jacob A. Frenkel
Part of the Studies in Banking and International Finance book series (SBIF)

Abstract

I would like to open my lecture by saying that I am greatly honoured and privileged to have been invited to deliver the Henry Thornton Lecture this year. Henry Thornton was born on 10 March 1760 and died in his 55th year on 16 January 1815. He was an extraordinary man, and a distinguished economist and the series of lectures established in his memory have performed the important function of paying tribute to this great man. As an MP he could have been honoured for his contributions to the development of the British political system; as a dedicated philanthropist who followed the tenets of Evangelism and who associated himself with the Clapham Sect he could have been honoured for his contributions to religious and social causes; and of course as an economist he is being honoured this evening for his contributions to the development of fundamental concepts and analyses in political economics.

Keywords

Exchange Rate Monetary Policy Asset Price Foreign Exchange Real Exchange Rate 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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References

  1. Frenkel, Jacob A. (1981a) ‘US Inflation and the Dollar’. National Bureau of Economic Research, conference paper no. 106, March. Forthcoming in a volume edited by Robert E. Hall, University of Chicago Press.Google Scholar
  2. Frenkel, Jacob A. (1981b) ‘Flexible Exchange Rates, Prices and the Role of “News”: Lessons from the 1970s’, Journal of Political Economy, vol. 89, no. 4 (August) pp. 665–705.Google Scholar
  3. Frenkel, Jacob A. (1981c) ‘The Collapse of Purchasing Power Parities During the 1970s’, European Economic Review, vol. 16, no. 1 (May) pp. 145–65.Google Scholar
  4. Frenkel, Jacob A. and Michael L. Mussa (1980) ‘The Efficiency of Foreign Exchange Markets and Measures of Turbulence’, American Economic Review, vol. 70, no. 2 (May) pp. 374–81.Google Scholar
  5. Frenkel, Jacob A. (1981) ‘Monetary and Fiscal policies in an Open Economy’, American Economic Review, vol. 71, no. 2 (May) pp. 253–8.Google Scholar
  6. Mill, John S. (1871) Principles of Political Economy 7th edition (London: Longmans, Green).Google Scholar
  7. Simons, Henry C. (1948) Economic Policy for a Free Society (University ol Chicago Press).Google Scholar
  8. Thornton, Henry (1939) An Enquiry into the Nature and Effects of the Paper Credit of Great Britain, London 1802, with his speeches on the Bullion Report, 1811. Edited with an Introduction by Friedrich A. von Hayek (London: George Allen & Unwin).Google Scholar
  9. Viner, Jacob (1924) Canadas Balance of International Indebtedness: 1900–1913 (Harvard University Press).Google Scholar

Copyright information

© Forrest Capie and Geoffrey E. Wood 1989

Authors and Affiliations

  • Jacob A. Frenkel

There are no affiliations available

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