ABSTRACT
By James Meade and David Vines. Meade presented an earlier version of this paper to the Centre for Economic Policy Research Conference on Exchange Rate Regimes, Money GDP Targets and Macro-economic Policy’ in Cambridge on 6 July 1987. It is included here since it represents Meade's current views on the ‘assignment problem’ in an open economy. This revised version of his paper was issued as Centre for Economic Policy Research Discussion Paper No. 246, June 1988.
