NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

The Adjustment Mechanism

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Maurice Obstfeld

Chapter in NBER book A Retrospective on the Bretton Woods System: Lessons for International Monetary Reform (1993), Michael D. Bordo and Barry Eichengreen, editors (p. 201 - 268)*
Published in January 1993

This chapter first appeared as NBER working paper w3943, The Adjustment Mechanism, Maurice Obstfeld

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