scholarly journals The Theory and Practice of Commercial Policy: Departures from Unified Exchange Rates, par JAGDISH BHAGWATI. Une brochure, 6 po. x 9, 74 pages. — INTERNATIONAL FINANCE SECTION, Princeton University, Princeton, New Jersey, 1968

1968 ◽  
Vol 44 (1) ◽  
pp. 171
Keyword(s):  
New Jersey ◽  
Exchange Rates ◽  
International Finance ◽  
Theory And Practice ◽  
Commercial Policy ◽  
Princeton University

The Theory and Practice of Commercial Policy: Departures from Unified Exchange Rates by Jagdish Bhagwati. International Finance Section, Depart¬ment of Economics, Princeton University, 1968.

1969 ◽  
Vol 9 (2) ◽  
pp. 224-226
Author(s):  
Frank C. Child
Keyword(s):  
Exchange Rates ◽  
Classical Tradition ◽  
International Finance ◽  
Small Volume ◽  
Theory And Practice ◽  
External Trade ◽  
Commercial Policy ◽  
Princeton University ◽  
Competitive Model

In this small volume, Bhagwati paints a broad canvas but is sparing in detail. He defines "unified exchange rates" to include not only the existence of a single rate of exchange applicable to all external transactions but also the absence of any taxes, subsidies, premia, quotas, or, administered prices in both internal and external markets. In short, a "departure from unified exchange rates" is any policy or circumstance which departs from the conditions of the perfectly competitive model. Bhagwati writes in the neo-classical tradition. However, as the argument progresses, it is clear that he is concerned about policies of interference with external trade.

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