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Strained Relations: US Foreign-Exchange Operations and Monetary Policy the Twentieth Century

Strained Relations: US Foreign-Exchange Operations and Monetary Policy the Twentieth Century in Bloomington, MN

Current price: $105.00
Get it at Barnes and Noble
Strained Relations: US Foreign-Exchange Operations and Monetary Policy the Twentieth Century

Strained Relations: US Foreign-Exchange Operations and Monetary Policy the Twentieth Century in Bloomington, MN

Current price: $105.00
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Size: Hardcover

Get it at Barnes and Noble
During the twentieth century, foreign-exchange intervention was sometimes used in an attempt to solve the fundamental trilemma of international finance, which holds that countries cannot simultaneously pursue independent monetary policies, stabilize their exchange rates, and benefit from free cross-border financial flows. Drawing on a trove of previously confidential data,
Strained Relations
reveals the evolution of US policy regarding currency market intervention, and its interaction with monetary policy. The authors consider how foreign-exchange intervention was affected by changing economic and institutional circumstances—most notably the abandonment of the international gold standard—and how political and bureaucratic factors affected this aspect of public policy.
During the twentieth century, foreign-exchange intervention was sometimes used in an attempt to solve the fundamental trilemma of international finance, which holds that countries cannot simultaneously pursue independent monetary policies, stabilize their exchange rates, and benefit from free cross-border financial flows. Drawing on a trove of previously confidential data,
Strained Relations
reveals the evolution of US policy regarding currency market intervention, and its interaction with monetary policy. The authors consider how foreign-exchange intervention was affected by changing economic and institutional circumstances—most notably the abandonment of the international gold standard—and how political and bureaucratic factors affected this aspect of public policy.

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