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| Author: | Rey, H. |
| Title: | International trade and currency exchange |
| Journal: | Review of Economic Studies
2001 : APR, VOL. 68:2(235), p. 443-464 |
| Index terms: | CURRENCY EXCHANGE CONTROL INTERNATIONAL TRADE |
| Language: | eng |
| Abstract: | On the international scene, away from national legal rules, the use of different currencies is largely due to the operation of the "Invisible Hand". The paper develops a three-country model of the world economy. This links real trade patterns with currency exchange structures in a general equilibrium framework which includes transaction costs on foreign exchange markets. |
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