The Effects of Exchange-rate Changes on Domestic Prices, Trade and Employment in the US, European Community and Japan

  • Alan Deardorff
  • Robert M. Stern
Part of the International Economic Association Series book series (IEA)


Following the advent of floating rates in 1973, there have been some sizeable swings in exchange rates involving the US dollar and other major currencies. Most recently, the dollar has appreciated sharply with respect to many other currencies. This appreciation has been a cause for concern to US policy-makers because, coming at a time of recession, it might aggravate the already painful process of adjusting domestically to the changing pattern of comparative advantage in both import-competing and export industries.


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Copyright information

© International Economic Association 1985

Authors and Affiliations

  • Alan Deardorff
    • 1
  • Robert M. Stern
    • 1
  1. 1.University of MichiganUSA

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