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| Author: | Wulff, M. |
| Title: | Kreditmarkttheoretische Erklaerung der Zins-und Zahlungsbilanzentwicklung in einer offenen Volkswirtschaft mit festen Wechselkursen /The development of interest rates and the balance of payments in an open economy with fixed exchange rates in the framework of credit market theory/ |
| Journal: | Jahrbücher für Nationalökonomie und Statistik
1988 : VOL. 205:3, p.209-228 |
| Index terms: | INTERNATIONAL MONETARY SYSTEM BALANCE OF PAYMENTS CREDIT MARKETS |
| Language: | ger |
| Abstract: | In case of a free flow of goods and capital between countries with fixed exchange rates the credit market balance will be achieved through the flow of payments which is temporarily related to disequilibriums in the balance of payments. This means an international redistribution of the money stock. The adjustment processes differentiate between perfect and imperfect capital mobility between the countries. Monetary consequences are also discussed. |
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