The “Kindleberger Spiral”, a graph of world trade between 1929 and 1933, looks like water circling a drain, or a small animal curling up into a ball. It was produced by Charles Kindleberger ...

This paper discusses the relationship between foreign currency deposits and money, and it shows that the indexation of part of the nominal money supply to the exchange rate, as a result of the ...

This paper explores a number of methodological issues that arise in the calculation of equilibrium exchange rates, which are identified in this paper as those real effective exchange rates consistent ...

He is a professor of economics and has raised more than $ ... with prices for the products rising or falling to maintain equilibrium. In a market failure, the balance is disrupted.

In macroeconomic models with dispersed information ... This paper revisits the model of Townsend (1983) to characterize how this mechanism affects equilibrium dynamics. The first part of the paper ...