TY  - BOOK
AU  - Artus,Jacques R.
ED  - National Bureau of Economic Research.
TI  - Effects of U.S. Monetary Restraint on the DM-$ Exchange Rate and the German Economy
T2  - NBER working paper series
PY  - 1982///
CY  - Cambridge, Mass.
PB  - National Bureau of Economic Research
N1  - July 1982; Hardcopy version available to institutional subscribers
N2  - This paper assesses the quantitative effects of a shift to monetary restraint in the United States on the DM-$ exchange rate and the German economy. The results indicate that such effects are large. If Germany keeps its money growth unchanged, it will tend to experience a sharp and sustained depreciation of the deutsche mark and a significant increase in inflation and in unemployment. If it adopts an equivalent policy of monetary restraint, it will tend to benefit from a marked decline in inflation, but the cost in terms of lost output is extremely large
UR  - https://www.nber.org/papers/w0926
UR  - http://dx.doi.org/10.3386/w0926
ER  -