Short-Run Equilibrium in the Balance of Payments

The field of foreign exchange, of all the branches of economics, has probably been most radically transformed by the events of the past two years. Not only have blocking restrictions and other limitations on capital movements become almost universal but the whole mechanism of exchange rates has been...

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Bibliographic Details
Published in:Southern economic journal 1942-01, Vol.8 (3), p.366-379
Main Author: Bell, Harry H.
Format: Article
Language:English
Subjects:
American dollar
Arbitrage
Balance of payments
Balance of trade
Bank accounts
Capital account
Capital income
Capital mobility
Central banks
Currency
Economic fluctuations
Equilibrium
Financial transactions
Foreign exchange rates
Forward exchange
International finance
International trade
Treasuries
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Summary:The field of foreign exchange, of all the branches of economics, has probably been most radically transformed by the events of the past two years. Not only have blocking restrictions and other limitations on capital movements become almost universal but the whole mechanism of exchange rates has been changed by the institution of an official monopoly of exchange dealings in most countries of the world. Thus, for example, the international movement of gold has ceased to be associated primarily with gold-shipping-point...
ISSN:0038-4038
2325-8012
DOI:10.2307/1052615