Elusive Stability: Essays in the History of International Finance, 1919-1939 (Studies in Macroeconomic History)

This volume provides a new interpretation of the operation and macroeconomic repercussions of the international monetary system during the interwar years. Each of the eleven essays is explicitly concerned with the role of exchange rates in macroeconomic fluctuations from the American and European perspective. The final essay examines interwar experience from a long-run perspective.