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Erschienen in:
1977 | OriginalPaper | Buchkapitel
Comment on R. Dornbusch, “The Theory of Flexible Exchange Rate Regimes and Macroeconomic Policy”
verfasst von : Stanley Fischer
Erschienen in: Flexible Exchange Rates and Stabilization Policy
Verlag: Palgrave Macmillan UK
Enthalten in: Professional Book Archive
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The paper by Rudiger Dornbusch first sets out a theory of the long run determination of the exchange rate and then discusses a number of issues connected with the operation of flexible exchange rate regimes over a shorter period characterized by expectational errors. Since the paper is admirably lucid, there is little for the discussant to do beyond expressing minor reservations at certain points and emphasizing some aspects of the analysis.