Abstract
Perhaps the most outstanding economic feature of the past years has been the enormous upheavals that have taken place in international financial markets. The growing instability of financial markets has not been confined to foreign exchange markets, but is also reflected in money, stock and bond markets. Events in the world economy in 1987 were dominated by recurrent exchange rate pressures, uncertainty in financial markets and the stock market crash of October.
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References
See R. Dornbusch, The dollar: how much further depreciation do we need?, in Economic Review, Federal Reserve Bank of Atlanta, September-October 1987, p. 7.
See in this context G. Haberler, Further thoughts of international policy coordination, in: Essays in honor of Henry C. Wallich, Essays in International Finance no. 169, December 1987, p. 23-24, Princeton University.
G. Haberler, Essays in International Finance, 1987, op.cit. p. 24.
See in this context, D. Morris, International policy coordination: popular misconceptions, in Economic and Financial Prospects, Swiss Bank Corporation, February-March, 1988, p. 4.
R. Triffin, The Paper-Exchange Standard: 1971-19??, in Essays in International Finance, no. 169, December 1987, p. 79–79, Princeton University.
A. Lamfalussy, Current-account imbalances in the industrial world: why they matter, in Essays in International Finance, no. 169, December 1987, P. 36–37, Princeton University.
See Time, 9 November, 1987, p. 5.
G. Haberler, Essays in International Finance, December 1987, op.cit. p. 28-29. See in this context the elucidated exposition of R. Dornbusch, External balance correction: depreciation or protection, Brookings Papers on Economic Activity, no. 1, 1987, p. 249-269 and Morgan Guaranty Trust Cy, World Financial Markets, November-December 1987.
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© 1989 Kluwer Academic Publishers
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Sijben, J. (1989). Introduction: External Disequilibria and the Burden of Economic Adjustment in the World Economy. In: Sijben, J.J. (eds) Financing the World Economy in the Nineties. Financial and Monetary Policy Studies, vol 18. Springer, Dordrecht. https://doi.org/10.1007/978-94-009-2261-7_1
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DOI: https://doi.org/10.1007/978-94-009-2261-7_1
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