r 1983
DOI: 10.20955/r.65.5-15.nhd
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Abstract: ORE than a decade has passed since the demise of the Bretton Woods system of fixed exchange rates. 1 Because ofits demonstrated inability to provide for the institutional adjustment of exchange rates necessary to incorporate change, there is general agreement that the Bretton Woods system, under which world trade was organized from 1945 to 1971, could not have been maintained. 2 Moreover, the viability of the system of floating exchange rates is buttressed by both a massive

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Cited by 14 publications
(7 citation statements)
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“…in turn, produce changes in the [(.5. demand for foreign currencies and, as a consequence, changes in the foreign exchange 'See, for example, Korteweg (1980) and Pigoff (1981). 4 For a more detailed discussion, see Batten and Ott (1983).…”
Section: Money Growth and Nominal Exchange Rate Changesmentioning
confidence: 99%
“…in turn, produce changes in the [(.5. demand for foreign currencies and, as a consequence, changes in the foreign exchange 'See, for example, Korteweg (1980) and Pigoff (1981). 4 For a more detailed discussion, see Batten and Ott (1983).…”
Section: Money Growth and Nominal Exchange Rate Changesmentioning
confidence: 99%
“…In between these extremes, other models allow for some link between the exchange rate and goods prices, but vary greatly on such issues as the role of domestic factors in import price‐setting, the extent and speed of pass‐through, the relative importance of intermediate and consumer good imports, and the degree to which the monetary policy reaction function governs the response of the aggregate price level and inflation to an exchange rate depreciation (see e.g. Wilson, 1976; Batten and Ott, 1983; Engel, 1993, 2002; McCallum and Nelson, 2000; Allsopp, 2001; Batini, Harrison and Millard, 2001; Burstein, Eichenbaum and Rebelo, 2002; Campa and Goldberg, 2002; Galí and Monacelli, 2002; Smets and Wouters, 2002).…”
Section: Introductionmentioning
confidence: 99%
“…For example, after a changc in the money supply, the exchange rate will react quickly. since cxchange rates are determined in 'highly organized, internationally integrated and efficient markets' (Batten and Ott, 1983), followed by the change in the price level. This leads one to believe that thc exchange rate causes thc price Icvel: although both may respond to changcs in the money supply.…”
Section: T H E M O D E Lmentioning
confidence: 99%