Three Discussion Papers from the Symposium on Exchange Rates

Richard N. Cooper

RNC

Richard N. Cooper

Discussants: Rudiger Dornbusch and

RD

Rudiger Dornbusch

James Tobin

JT

James Tobin

I ENJOYED Jeffrey Frankel’s paper. He uses theory nicely to structure
the problem, and then with the aid of some reasonable guesstimates he
bounds the issues quantitatively. I will make two somewhat technical
remarks and three of a more general nature.