Balance of Payments Adjustment by Expenditure Switching

  • J. Harvey
  • M. Johnson


In the previous two chapters we have seen that, where the exchange rate is fixed, balance of payments equilibrium can be achieved through variations in the economy’s level of income. Such variations, however, may be undesirable because they conflict with a full employment policy.


Exchange Rate Full Employment Home Market Export Earning Home Price 
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Copyright information

© J. Harvey and Janet Johnson 1973

Authors and Affiliations

  • J. Harvey
    • 1
  • M. Johnson
    • 2
  1. 1.University of ReadingUK
  2. 2.Hatfield PolytechnicUK

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