Abstract
Through the use of alternative approaches these two papers come to different conclusions on the fixed versus floating exchange rate debate in 1980. Laidler presents a pragmatic and persuasive case for floating rates without stating the positive merits of the fixed rate alternative, while Sumner and Zis present a useful survey of the theoretical literature on the relationships between exchange rates and inflation, and by rectifying certain faults of the literature conclude that floating rates exhibit an inflation bias.
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References
Bilson, J. F. O. (1979) ‘The Vicious Circle Hypothesis’, International Monetary Fund Staff Papers, vol. 26.
Parkin, M. (1976) ‘Monetary Union and Stabilisation Policy in the European Community’, Banca Nazionale del Lavoro Quarterly Review, September, vol. 76, no. 118.
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© 1982 M. T. Sumner and G. Zis
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Dennis, G.E.J. (1982). Comments on Laidler and Sumner and Zis. In: Sumner, M.T., Zis, G. (eds) European Monetary Union. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-16781-4_12
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DOI: https://doi.org/10.1007/978-1-349-16781-4_12
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-16783-8
Online ISBN: 978-1-349-16781-4
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