An analysis of the operation and consequences of exchange rate regimes in an era of increasing international interdependence. The exchange rate is sometimes cal

An analysis of the operation and consequences of exchange rate regimes in an era of increasing international interdependence. The exchange rate is sometimes cal

This paper reviews recent experience with the choice of floating or fixed (“anchor”) exchange regimes in industrial and developing countries. It concludes t

Using recent advances in the classification of exchange rate regimes, this paper finds no support for the popular bipolar view that countries will tend over tim

This paper identifies the institutional and operational requisites for transitions to floating exchange rate regimes. In particular, it explores key issues unde