Contents
PRESENT FOREIGN PAYMENTS PRACTICES IN THE UNITED STATES
Alfred H. Von Klemperer
RECENT DEVELOPMENTS IN THE U.S. BALANCE OF PAYMENTS
H. K. Zassenhaus and F. C. Dirks
EFFECTS OF A DEVALUATION ON A TRADE BALANCE
Sidney S. Alexander
EMPLOYMENT, PRODUCTION, AND THE NATIONAL SECURITY PROGRAM IN THE UNITED STATES
Ta-Chung Liu
THE MODERN COLONIAL STERLING EXCHANGE STANDARD
H.A. Shannon
STAFF PAPERS
Edited by Allan G. B. Fisher and a Staff Committee
Assisted by Dorothy Wescott
These papers are prepared by members of the staff of the International Monetary Fund. Three numbers constitute a volume. Subscriptions may be entered with any current number at a rate of US$3.50 for three numbers or the approximately equivalent price in the currencies of most countries. Single copies may be purchased at US$1.50. Subscriptions and orders should be sent to:
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From the Foreword to the first issue:
“Among the responsibilities of the International Monetary Fund, as set forth in the Articles of Agreement, is the obligation to ‘act as a center for the collection and exchange of information on monetary and financial problems,’ and thereby to facilitate ‘the preparation of studies designed to assist members in developing policies which further the purposes of the Fund.’ The publications of the Fund are one way in which this responsibility is discharged.
“Through the publication of Staff Papers, the Fund is making available some of the work of members of its staff. The Fund believes that these papers will be found helpful by Government officials, by professional economists, and by others concerned with monetary and financial problems. Much of what is now presented is quite provisional. On some international monetary problems, final and definitive views are scarcely to be expected in the near future, and several alternative, or even conflicting, approaches may profitably be explored. The views presented in these papers are not, therefore, to be interpreted as necessarily indicating the position of the Executive Board or of the officials of the Fund.”
The authors of the papers in this issue have received considerable assistance from their colleagues on the staff of the Fund. This general statement of indebtedness may be accepted in place of a detailed list of acknowledgments.