Comment on R. N. Cooper, “Monetary Theory and Policy in an Open Economy”

  • Stanley W. Black


Since Professor Meinich has given us such a good summary of Dick Cooper’s paper, I will confine myself to making several points that either were omitted in the paper or that I think require some further discussion and clarification. Let me say in the beginning that the paper is a very useful introduction to one of the basic problems with which this Conference is dealing: the theoretical analysis of macro-economic behavior under flexible exchange rates. My critical remarks are intended mainly to sharpen Cooper’s discussion of the analytical questions.


Exchange Rate Monetary Policy Current Account Money Supply Money Demand 
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Copyright information

© The Scandinavian Journal of Economics 1977

Authors and Affiliations

  • Stanley W. Black
    • 1
    • 2
  1. 1.Vanderbilt UniversityNashvilleUSA
  2. 2.Institute for International Economic StudiesStockholmSweden

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