Since 2014
An analysis of the two-tier foreign exchange market
PSL Quarterly Review
View Archive Info| Field | Value | |
| Title |
An analysis of the two-tier foreign exchange market
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| Creator |
BARATTIERI, V.
RAGAZZI, G. |
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| Subject |
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Two-tier foreign exchange market, EEC, capital movements, Mundell, fiscal policy F31, F36, E62 |
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| Description |
This paper analyses the possible effects of the two-tier foreign exchange market. This system, which has been in operation in Belgium for over 15 years, has recently found new supporters, as is indicated by the fact that during the international monetary crisis of May 1971 the EEC Commission counselled its adoption. The author first analyses the reasons which may justify restrictions on the freedom of capital movements, both in the short run and in the longer term. Some of the technical characteristics of a two-tier foreign exchange market are then examined before the well-known Mundell analysis of the efficiency of monetary and fiscal policy in an open economy is extended to the case of a country with such a system. Finally, the author draws some conclusions and compares a two-tier system with other instruments designed to reduce the undesired repercussions of high capital mobility.
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| Publisher |
Economia civile
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| Contributor |
—
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| Date |
2014-10-02
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion — |
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| Format |
application/pdf
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| Identifier |
http://annalidibotanica.uniroma1.it/index.php/PSLQuarterlyReview/article/view/12878
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| Source |
PSL Quarterly Review; Vol 24, No 99 (1971)
PSL Quarterly Review; Vol 24, No 99 (1971) 2037-3643 ISSN 2037-3635 |
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| Language |
eng
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| Relation |
http://annalidibotanica.uniroma1.it/index.php/PSLQuarterlyReview/article/view/12878/12681
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| Rights |
Copyright (c) 2016 V. BARATTIERI, G. RAGAZZI
http://creativecommons.org/licenses/by-nc-nd/4.0 |
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