Foreign exchange systems in a model of asset accumulation
This thesis is a theoretical study of the stability, growth and optimality properties of alternative foreign exchange regimes in a dynamic model of asset accumulation. The central objective is to evaluate exchange systems from the viewpoint of their stability properties and also their consistency with various short-run and long-run macroeconomic policy objectives. At times these aspects overlap: in particular the analysis pays close attention to the stability properties of exchange...[Show more]
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