Comments on ‘Monetary Theory and Policy in a Global Context with a Large International Debt’ by Paul Davidson
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A theoretical part contrasting monetarist and Keynesian approaches to monetary policy and exchange rate regimes;
A mathematical model comparing the effect on inflation of domestic and export-led growth strategies; and
A proposed solution to the so-called debt crises of the LDCs.
KeywordsExchange Rate Monetary Policy Central Banker Real Exchange Rate Exchange Rate Regime
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- 1.See, for example, the proposal by James D. Robinson III, ‘A Comprehensive Agenda for LDC Debt and World Trade Growth,’ The AMEX Bank Review, Special Papers, no. 13, March 1988.Google Scholar