An explicit UK policy for a lower exchange rate will not boost economic growth as some have suggested.
British Politics and Policy at LSE
(27 Apr 2012)
Philip Booth argues that lower exchange rates is not the solution for the problem of stimulating economic growth in the UK. It is real exchange rates that determine the cost of exports and imports relative to alternatives, and, since the UK can only control nominal rather than real exchange rates, there is not much by way of policy that can actually be done in this respect.
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