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Further Thoughts on Official Support of the Forward Exchange Rate

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  • Henry N. Goldstein

Abstract

I. The rationale for official intervention, 443. — II. Aliber's rebuttal of the common-sense view that intervention is unwise if the authorities themselves believe parities may be changed, 445. — III. The case of a nonreserve-currency country, 446. — IV. Losses to speculators vs. the devaluation profit, 451.—V. The special case of the dollar, 452. — VI. Summary and conclusion, 454.

Suggested Citation

  • Henry N. Goldstein, 1966. "Further Thoughts on Official Support of the Forward Exchange Rate," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 80(3), pages 443-455.
    • Handle: RePEc:oup:qjecon:v:80:y:1966:i:3:p:443-455.
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