Trade and Exchange Rates

  • Tim Hazledine


The biggest of the big numbers of economic performance are certainly unemployment and the inflation rate. But related to these two, and of considerable importance in their own right, are the numbers measuring the economy’s performance on foreign trade and in its public sector. We look at trade in this chapter, and the public sector in the next.


Exchange Rate Foreign Exchange Foreign Currency Full Employment Domestic Economy 
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  1. 6.
    R. F. Harrod, The Life of John Maynard Keynes (Penguin, 1972), p. 354–6.Google Scholar
  2. 10.
    See Nicholas Kaldor, ‘The effects of devaluation on trade in manufactures’, in Collected Economic Essays’ vol. 6 (Duckworth, 1978),Google Scholar
  3. and Wynne Godley, ‘Britain’s Chronic Recession — Can Anything be Done?’, in Wilfred Beckerman (ed), Slow Growth in Britain (Clarendon Press, 1979).Google Scholar

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© Tim Hazledine 1984

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  • Tim Hazledine

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