Quite obviously, a country with reckless monetary policy will not be able to keep its exchange rate fixed for long. Part of the argument for pegged rates is precisely that they result in greater ...

In recent years, fixed or pegged exchange rates have been a factor in every major emerging ... Proponents of the bipolar view—myself included—have perhaps exaggerated their argument for dramatic ...

Today’s system of exchange rates act as the lynchpin of the age of globalisation, but the road to that system has been tumultuous, shaped by a series of mistrials In 1944, a mechanism for fixed ...