Dia 1

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Figure 23.1 Alfred Marshall (1842-1924)
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Figure 23.2 The exchange rate and current account
equilibrium
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Figure 23.3 The Marshall Lerner condition and
stability
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Figure 23.4 Fixed exchange rates and intervention
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Figure 23.5 The J-curve
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Figure 23.6 Estimated price elasticities for
trade in manufactured goods
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Figure 23.7 USA Plaza, Louvre, and J-curve
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Figure 23.8 Domestic equilibrium
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Figure 23.9 External equilibrium
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Figure 23.10 The Swan diagram
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Figure 23.11 Violation of the Tinbergen rule two
objectives one instrument
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Figure 23.12 The assignment problem
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Figure 23.13 Italian adjustments, 1986-1993