Maintaining and Restoring Balance in International Trade

Maintaining and Restoring Balance in International Trade


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Fourteen leading economists analyze the problem of imbalance in international payments and suggest corrective measures. Three general appraisals by William Fellner, Fritz Machlup, and Robert Triffin are followed by shorter technical papers on special issues by Fellner, Gottfried Haberler, Sir Roy Harrod, Harry G. Johnson, Peter B. Kenen, Alexandre Lamfalussy, Friedrich A. Lutz, Machlup, Jürg Niehans, Walters S. Salant, Tibor Scitovsky, James Tobin, Triffin, and Robert L. West.

Originally published in 1966.

The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Product Details

ISBN-13: 9780691623856
Publisher: Princeton University Press
Publication date: 12/08/2015
Series: Princeton Legacy Library , #2268
Pages: 272
Product dimensions: 6.10(w) x 9.10(h) x 0.70(d)

Table of Contents

  • Frontmatter, pg. i
  • Foreword, pg. v
  • Preface, pg. vii
  • The contributors, pg. x
  • Contents, pg. xi
  • 1. Introduction, pg. 1
  • 2. Rules of the Game, Vintage 1966, pg. 11
  • 3. In Search of Guides for Policy, pg. 33
  • 4. The Balance-of-Payments Seesaw, pg. 85
  • 5. On Limited Exchange-rate Flexibility, pg. 111
  • 6. Adjustment, Employment, and Growth, pg. 123
  • 7. The Speed of Adjustment, pg. 137
  • 8. The Objectives of Economic Policy and the Mix of Fiscal and Monetary Policy Under Fixed Exchange Rates, pg. 145
  • 9. Financing and Adjustment: The Carrot and the Stick, pg. 151
  • 10. Limitations of Monetary and Fiscal Policy, pg. 157
  • 11. Money Rates of Interest, Real Rates of Interest, and Capital Movements, pg. 161
  • 12. The Capital Account in the Balance of Payments, pg. 167
  • 13. Wage-and-Price Guideposts in the Context of Balance-of-Payments Adjustment, pg. 171
  • 14. Capital Markets and the Balance of Payments of a Financial Center, pg. 177
  • 15. Alternative Methods of Restoring Balance, pg. 197
  • 16. Adjustment Responsibilities of Surplus and Deficit Countries, pg. 201
  • 17. A Statistical Framework for Monetary and Income Analysis, pg. 213
  • 18. Impact of the Adjustment Process on Developing Countries, pg. 223
  • Notes on Terminology, pg. 243
  • Index, pg. 255

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