What to do about the over-valued dollar

HOP 1. What to do about the over-valued dollar

Ronald McKinnon

In 1985 the US dollar was over-valued by as much as 30 to 40 percent when measured against European currencies and about 20 percent against the Japanese yen. This imposed undue competitive pressure and great distress across a broad spectrum of American farming, mining and manufacturing activities and pressure to restrict imports is rapidly increasing. Professor McKinnon explores what can be done about it.