01622cas a2200241 a 4500 AALejournalIMF002495 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451977769 1018-5941 BD-DhAAL BD-DhAAL Mundell, Robert. Do Exchange Rates Work? : Another View / Robert Mundell. Washington, D.C. : International Monetary Fund, 1991. 1 online resource (58 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper investigates the role of exchange rates in balance of payments theories. It explores the sixteen approaches to the balance of payments, the concept of an 'equilibrium' trade balance and sequential 'stages' of the current account. It examines fiscal and demographic influences on the U.S. deficit. The final section considers the breakdown of the international monetary system after World Wars I and II; an evaluation of alternative proposals to correct the defects of the system; and an examination of the extent to which deficits of reserve countries have their origins in systemic problems. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1991/037 Full text available on IMF http://elibrary.imf.org/view/journals/001/1991/037/001.1991.issue-037-en.xml IMF e-Library