When Mr Mundell expounded his theory, in the early 1960s, most rich countries were tied to the Bretton Woods system of fixed exchange rates.

 
  • 二十世纪六十年代初,孟德尔先生阐述了他的理论,当时大部分的发达国家正受困于固定汇率的布雷顿森林体系。
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