This book is a synthesis of the author's ideas and research concerning the monetary consequences of trade flows, and the relevance of conventional balance of pa

This paper addresses analytical aspects of exchange rate policy and emphasizes the relationship among exchange rate flexibility, financial discipline, and inter

The Balance of Payments Adjustment Process in Developing Countries deals with the manner in which the burden of adjustment to balance of payments disequilibrium

The paper develops and tests a model of a developing economy that incorporates trade and capital restrictions, illegal transactions, a parallel foreign exchange

'...the most definitive study of the subject, assembling an all-star cast to address the many outstanding questions and succeeding beyond expectations in combin