Journal of Economic Literature: Vol. 50 No. 4 - Book Review

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Book(s) Reviewed

Flexible Exchange Rates for a Stable World Economy by Joseph E. Gagnon

Published By: With Marc Hinterschweiger. Washington, D.C.: Peterson Institute for International Economics
ISBN: 978-0-88132-627-7
Date of Publication: 2011


Book Review Detail

Reviewed by: David H. Papell of University of Houston
Review DOI: 10.1257/jel.50.4.1106.r3
Review Pages: 1114-15

Book Review Abstract

David H. Papell of University of Houston reviews, "Flexible Exchange Rates for a Stable World Economy" by Joseph E. Gagnon. The JEL annotation of this book begins: "Examines the broad parameters of exchange rate policy in light of both theory and real-world experience, focusing on the advanced economies and the leading emerging markets but including the low-income developing economies as well. Discusses a world of multiple monies; whether floating exchange rates are too volatile; whether volatile exchange rates reduce economic output; whether volatile exchange rates destabilize inflation and output; monetary policy with fixed and floating exchange rates; fiscal policy and exchange rate regimes; and exchange rate regimes in developing economies. Gagnon is Senior Fellow at the Peter G. Peterson Institute for International Economics. Index."


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Book Review Authors

David H. Papell of University of Houston


JEL Classifications

E23: Macroeconomics: Production
E31: Price Level; Inflation; Deflation
E52: Monetary Policy
E62: Fiscal Policy
F33: International Monetary Arrangements and Institutions
F40: Macroeconomic Aspects of International Trade and Finance: General
O24: Development Planning and Policy: Trade Policy; Factor Movement; Foreign Exchange Policy


Journal of Economic Literature


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