Date of Original Version

1982

Type

Response or Comment

Abstract or Description

Jacob Frenkel's paper assesses the operation of the international monetary system, after almost a decade of floating, Frenkel studies the performance of three exchange rates the dollar-pound, dollar-French franc, and dollar-mark rates-in the years of turbulence that followed the closing of the U.S. gold window. The period includes the two oil shocks and ends with the institutionalization of chaos in Iran.

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Published In

Exchange Rate Policy, (eds.) R.A. Batchelor and G.E. Wood, Macmillan, London.