The Monetary Approach to International Adjustment
Putman, Bluford / Wilford, D.
?Topics apply monetarism to novel aspects of international economy, such as the use of portfolio theory for explaining tendencies for investors to hold a mix of currencies, rather than just their own, why floating rates can be expected to overshoot' their longer-run level, and how the money illusion and expectations can either help or hinder the adjustment processes. The empirical applications would be of interest to these concerned with parti...