16. Adjustment Responsibilities of Surplus and Deficit Countries

Chapters in this book

1. Frontmatter i
2. Foreword v
3. Preface vii
4. The contributors x
5. Contents xi
6. 1. Introduction 1
7. PART I: Comprehensive Papers
8. 2. Rules of the Game, Vintage 1966 11
9. 3. In Search of Guides for Policy 33
10. 4. The Balance-of-Payments Seesaw 85
11. PART II: Papers on Special Issues
12. 5. On Limited Exchange-rate Flexibility 111
13. 6. Adjustment, Employment, and Growth 123
14. 7. The Speed of Adjustment 137
15. 8. The Objectives of Economic Policy and the Mix of Fiscal and Monetary Policy Under Fixed Exchange Rates 145
16. 9. Financing and Adjustment: The Carrot and the Stick 151
17. 10. Limitations of Monetary and Fiscal Policy 157
18. 11. Money Rates of Interest, Real Rates of Interest, and Capital Movements 161
19. 12. The Capital Account in the Balance of Payments 167
20. 13. Wage-and-Price Guideposts in the Context of Balance-of-Payments Adjustment 171
21. 14. Capital Markets and the Balance of Payments of a Financial Center 177
22. 15. Alternative Methods of Restoring Balance 197
23. 16. Adjustment Responsibilities of Surplus and Deficit Countries 201
24. 17. A Statistical Framework for Monetary and Income Analysis 213
25. 18. Impact of the Adjustment Process on Developing Countries 223
26. Notes on Terminology 243
27. Index 255