"For countries with fixed exchange rates, payments deficits would be self-correcting, if only governments would stop doing their darnedest to prevent correction." Comment, and include how counterbalancing monetary policy (sterilization) can prevent self-adjustment from occurring.

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The Answer of "For countries with fixed exchange rates, payments deficits would be self-correcting, if only governments would stop doing their darnedest to prevent correction." Comment, and include how counterbalancing monetary policy (sterilization) can prevent self-adjustment from occurring.

"For Countries with Fixed Exchange Rates, Payments Deficits Would Be