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- Title
CURRENCY APPRECIATION AS AN ANTI-INFLATIONARY DEVICE.
- Authors
Hinshaw, Randall
- Abstract
The article examines the case for currency appreciation as an anti-inflationary device. It also discusses about the effectiveness of appreciation as a corrective measure for externally induced inflation. Possibilities in which appreciation may have an anti-inflationary effect in countries not characterized by an external surplus. The spectacular increase in the dollar prices of primary products since the outbreak of the Korean conflict has created serious difficulties both for the countries, which import such products, and for the countries which export them. One reaction to this development has been a strong wave of opinion in favor of currency appreciation in such widely dissimilar countries as Australia, Ceylon, India, Great Britain and countries of continental Western Europe. While the prevention or restraining of inflation is the primary objective sought by those who advocate appreciation at the present time, there appear to be wide differences of opinion as to precisely how appreciation exerts an anti-inflationary influence.
- Subjects
INTERNATIONAL trade; ECONOMIC policy; FOREIGN exchange; PRICE inflation; INTERNATIONAL finance; ECONOMICS
- Publication
Quarterly Journal of Economics, 1951, Vol 65, Issue 4, p447
- ISSN
0033-5533
- Publication type
Article
- DOI
10.2307/1882575