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ECONOMIC THEORY AND FINANCIAL POLICY
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This two-volume set brings together Polak's papers over the last 50 years in the fields of economics, econometrics and finance. The collection begins with his work on international and national business cycles, problems of international trade and balance of payments adjustment. Later sections examine exhange rates and their effect on the balance of payments, inflation and hyperinflation; the monetary approach to the balance of payments, a subject which the author pioneered in the International Monetary Fund; and international liquidity, with reference to the special drawing right. The final section features the author's essays on the international monetary system itself, including: the international co-ordination of national economic policies, the changes over time in the objectives of national policy-making in the main industrial countries and reform of the system.
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