A common feature of the countries that have adopted inflation targets is the relatively poor inflation record over the last 30 years compared with other industrial countries such as Germany, Switzerland, Japan and the United States.
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A discussion of a range of problems in international economics. It analyzes economic problems in stabilization policy, exchange rate regimes and international trade policy and taxation, and also examines the problems in international economics in the 1980s and 1990s. The first part of the work deals with anti-inflation policies in open economies, where exchange rate regimes play a crucial role. The monetary analysis is combined in the second part with a discussion of advances in real trade theory and its applications.
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