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

by Anna Jacobson Schwartz, Owen F. Humpage, Michael D. Bordo, et al.

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...

• Format: Hardcover
• Language: English
• ISBN: 022605148X
• ISBN13: 9780226051482
• Release Date: March 2015
• Publisher: University of Chicago Press
• Length: 496 Pages
• Weight: 1.70 lbs.
• Dimensions: 1.5" x 6.4" x 9.1"