Towards a consistent comparison of alternative exchange rate systems

Elhanan Helpman; Assaf Razin

doi:10.1016/0165-1765(78)90100-3

Towards a consistent comparison of alternative exchange rate systems

Elhanan Helpman^*, Assaf Razin

^*Corresponding author for this work

School of Economics

Research output: Contribution to journal › Article › peer-review

Abstract

Equilibrium allocations of alternative exchange rate regimes are compared in an intertemporal framework. When money serves only as a store of value, the same real allocations are attainable under all regimes. However, if money also serves other functions, there are equilibria under the fixed rate system that eliminate those under floating rates, and vice versa.

Original language	English
Pages (from-to)	77-80
Number of pages	4
Journal	Economics Letters
Volume	1
Issue number	1
DOIs	https://doi.org/10.1016/0165-1765(78)90100-3
State	Published - 1978

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Towards a consistent comparison of alternative exchange rate systems

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