The papers and comments in this volume were presented at a conference sponsored by the Federal Reserve Bank of Boston.

Contents

Entire Proceedings (10.1MB)

Foreword
  Frank E. Morris

The Transmission of Fluctuations in Economic Activity: Some Recent Evidence
  Duncan M. Ripley, with discussion by Robert E. Baldwin

The International Transmission of Inflation 
Norman S. Fieleke, with discussion by Robert M. Stern and response by Norman S. Fieleke

Further Results on the Efficiency of Markets for Foreign Exchange
  Richard M. Levich, with dicussions by Rimmer de Vries and Ronald I. McKinnon

Monetary Policy under Exchange-Rate Flexibility
  Rudiger Dornbusch, with discussion by William H. Branson

Monetary Policy under Alternative Exchange-Rate Regimes: Simulations with a Multi-Country Model
  Ernesto Hernandez-Cata, Howard Howe, Sung Y. Kwack, Guy Stevens, Richard Berner, and Peter Clark. With discussion by Charles Freedman

Alternative Approaches to International Surveillance of Exchange-Rate Policies
Thomas D. Willett, with discussions by Jacob A. Frenkel and Jacques R. Artus