This book contains the papers, comments, and the discussion at a conference on "Flexible Exchange Rates and Stabilization Policy", held at Saltsjobaden, Stockholm, August 26–27, 1975. The papers integrate the flexible exchange rates theory with macro theory and stabilization policy analysis. .
1. Approaches to Exchange Rate Analysis-An Introduction 2. Monetary Theory and Policy in an Open Economy 3. Experiences of Flexible Exchange Rates in Earlier Periods: Theories, Evidence and a New View 4. A Monetary Approach to the Exchange Rate: Doctrinal Aspects and Empirical Evidence 5. The Exchange Rate, the Balance of Payments and Monetary and Fiscal Policy under a Regime of Controlled Floating 6. The Theory of Flexible Exchange Rate Regimes and Macroeconomic Policy 7. The Exchange Rate and the Balance of Payments in the Short Run and in the Long Run: A Monetary Approach 8. The Firm under Pegged and Floating Exchange Rates 9. Exchange-rate Flexibility and Reserve Use 10. World Inflation under Flexible Exchange Rates 11. Inflation and the Exchange Rate Regime 12. General Discussion