International Transmission Afloat
Money, History and International Finance, 1987
46 Pages Posted: 8 Nov 2004
Almost eleven years ago to the day, Anna Schwartz and we began a detailed study of inflation under the Bretton Woods System and in the year that immediately followed its breakdown. At the time, the consensus view among economists and in a sizeable portion of the financial community was that floating exchange rates, though perhaps not a panacea, certainly were to be welcomed rather than avoided.
Suggested Citation: Suggested Citation