NDLI: Why markets in foreign exchange are different from other markets

Content Provider	Semantic Scholar
Author	Wallace, Neil
Copyright Year	1979
Abstract	This paper, originally published in the fall 1979 Quarterly Review, explains why unfettered markets cannot determine a price at which the currency of one country exchanges for that of another. In effect, any price will work--something which is not true in other markets. The paper then argues that the only feasible regimes for these special markets are floating exchange rates with capital controls or fixed exchange rates with monetary and budget policy coordination. ; Originally published in Quarterly Review, Fall 1979.
Starting Page	12
Ending Page	18
Page Count	7
File Format	PDF HTM / HTML
DOI	10.21034/qr.1412
Alternate Webpage(s)	http://research.mpls.frb.fed.us/research/qr/QR341.pdf
Alternate Webpage(s)	https://www.minneapolisfed.org/research/QR/QR1412.pdf
Alternate Webpage(s)	https://www.minneapolisfed.org/research/qr/qr341.pdf
Alternate Webpage(s)	http://www.mpls.frb.org/research/qr/QR341.pdf
Alternate Webpage(s)	http://minneapolisfed.org/research/qr/QR341.pdf
Alternate Webpage(s)	https://www.minneapolisfed.org/research/qr/it141.pdf
Alternate Webpage(s)	http://www.minneapolisfed.org/research/qr/QR341.pdf
Alternate Webpage(s)	https://doi.org/10.21034/qr.1412
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article

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Why markets in foreign exchange are different from other markets