Exchange Rates, Wages, and International Adjustment: Japan and China versus the United States

February, 2005      Download this brief (PDF).

Ronald McKinnon Homepage (http://www.stanford.edu/~mckinnon/)

Ronald I. McKinnon is the William D. Eberle Professor of International Economics at Stanford University, where he has taught since 1961. He is also a SIEPR/SCID Senior Fellow. His fields of interest are international economics and development finance. McKinnon has written over 100 articles and several books, which include: Money and Capital in Economic Development (1973); Money in International Exchange:The Convertible-Currency System (1979);The Order of Economic Liberalization: Financial Control in the Transition to a Market Economy, 1993; The Rules of the Game: International Money and Exchange Rates, 1996;Dollar and Yen: Resolving Economic Conflict Between the United States and Japan (with KenichiOhno), 1997; and Exchange Rates under the East Asian Dollar Standard: Living with Conflicted Virtue, in 2005. His books have been translated into many European and Asian languages, and he has been a consultant to central banks and finance ministries the world overincluding international agencies such as the World Bank and International Monetary Fund.