I

Introductory Essay

1

The Monetary Approach to the Balance of Payments: Essential Concepts and Historical Origins

Jacob A. Frenkel and Harry G. Johnson

II

Basic Articles

2

Towards a General Theory of the Balance of Payments

Harry G. Johnson

3

Barter Theory and the Monetary Mechanism of Adjustment

Robert A. Mundell

III

Further Developments

4

The International Distribution of Money in a Growing World Economy

Robert A. Mundell

5

A Dynamic Analysis of the Balance of Payments in a Model of Accumulation

Jacob A. Frenkel

6

The Monetary Approach to Balance-of-Payments Theory

Harry G. Johnson

7

Devaluation, Money, and Non-Traded Goods

Rudiger Dornbusch

8

Tariffs and the Balance of Payments: A Monetary Approach

Michael Mussa

9

Money and Wealth in an Open Economy Income-Expenditure Model

Carlos A. Rodriguez

10

Monetary Policy under Fixed Exchange Rates: Effectiveness, the Speed of Adjustment, and Proper Use

Alexander K. Swoboda

11

The Monetary Theory of Balance-of-Payments Policies

Harry G. Johnson

IV

Case Studies

12

Monetary Equilibrium and International Reserve Flows in Australia

J. Richard Zecher

13

Aspects of the Monetary Approach to Balance-of-Payments Theory: An Empirical Study of Sweden

A. Hans Genberg

14

International Reserve Flows and Money Market Equilibrium: The Japanese Case

Donna L. Bean

15

The Balance of Payments as a Monetary Phenomenon: Empirical Evidence, Spain 1955–71

Manuel Guitian

V

Application to Economic History

16

How the Gold Standard Worked, 1880–1913

Donald N. McCloskey and J. Richard Zecher

Index