The Purchasing Power Parity Criterion for Stabilizing Exchange Rates.
The use of purchasing power parity as a basis of fixing exchange rates among industrial countries, as proposed by McKinnon, is discussed and contrasted with alternative interpretations of the PPP doctrine. Major policy implications of such a regime are emphasized. Furthermore, a new technique for es...
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| Format: | Journal |
| Language: | English |
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Washington, D.C. :
International Monetary Fund,
1989.
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| Series: | IMF Working Papers; Working Paper ;
No. 1989/052 |
| Online Access: | Full text available on IMF |