Macroeconomic Policy in Open Economies: A Reader October 2001 HKS Authors See citation below for complete author information. Jeffrey Frankel James W. Harpel Professor of Capital Formation and Growth Citation Frankel, Jeffrey A. "Recent Exchange Rate Experience and Proposals for Reform." Macroeconomic Policy in Open Economies: A Reader. Ed. Mehmet Ugur. Routledge, October 2001.