Macroeconomics 9th Edition by David Colander

Exercise 38

In an op-ed article, Paul Volcker, former chairman of the Board of Governors of the Federal Reserve, asked the following question: "Is it really worth spending money in the exchange markets, modifying monetary policy, and taking care to balance the budget just to save another percentage or two [of value of exchange rates] " What's your answer to this question (Difficult)