世界经济教学资料 international policy coordination [终稿].pptVIP

;Case; The foreign exchange crisis ——failure in international policy coordination;ERM Purpose: limit or narrow the fluctuation of foreign exchange rate;1990 German reunion The tremendous inflation pressure Improve its rate (betray ERM); German: implement the inflation policy to decrease its rate. ;German bank : the purpose of is to restrain the currency inflation never decrease its rate. ;international speculators sold out pound vastly bought mark;Pros of ERM : internalize exchange policy externalities, get the most out of a limited number of policy ins