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
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."
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