Currency depreciation and the monetary adjustment process: Reconsidering Lord King's contributions

Salerno, JT and Dorobat, CE (2018) Currency depreciation and the monetary adjustment process: Reconsidering Lord King's contributions. Oxford Economic Papers, 70 (3). pp. 699-718. ISSN 0030-7653

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Abstract

© Oxford University Press 2018, All rights reserved. This paper investigates Lord King's contributions in light of the renewed debate on international monetary policy coordination. We argue that King's work contains refined bullionist insights concerning currency depreciation, exchange rate determination, and balance of payments adjustment. We show how King's analysis of the monetary process under different currency regimes can help elucidate the effects of unconventional monetary policy on a global scale, concerning monetary spillovers, currency wars, business cycles, and the distribution of wealth.

Item Type:	Article
Peer-reviewed:	Yes
Date Deposited:	17 Jan 2020 10:29
Publisher:	Oxford Academic
Additional Information:	This is an Author Accepted Manuscript of a paper accepted for publication in Oxford Economic Papers, published by and copyright Oxford Academic.
Divisions:	Faculties > Business and Law
Subject terms:	Social Sciences, Economics, Business & Economics, POLICY, DOCTRINE, SMITH,A, MISES, 14 Economics, Economics
URI:	https://e-space.mmu.ac.uk/id/eprint/624735
DOI:	https://doi.org/10.1093/oep/gpx044
ISSN	0030-7653
e-ISSN	1464-3812

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