| 000 | 02536cam a22003257 4500 | ||
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| 001 | w9654 | ||
| 003 | NBER | ||
| 005 | 20211020113017.0 | ||
| 006 | m o d | ||
| 007 | cr cnu|||||||| | ||
| 008 | 210910s2003 mau fo 000 0 eng d | ||
| 100 | 1 |
_aBordo, Michael D. _96595 |
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| 245 | 1 | 0 |
_aExchange Rate Regime Choice in Historical Perspective / _cMichael D. Bordo. |
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_aCambridge, Mass. _bNational Bureau of Economic Research _c2003. |
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_a1 online resource: _billustrations (black and white); |
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| 490 | 1 |
_aNBER working paper series _vno. w9654 |
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| 500 | _aApril 2003. | ||
| 520 | 3 | _aExchange rate regime choice has evolved considerably in the past 100 years. At the beginning of the twentieth century the choice was obvious - - join the gold standard, all the advanced countries have done it. Floating exchange rates and fiat money are only for profligate countries. At the beginning of the twenty-first century, the choice is also becoming more obvious - - go to floating exchange rates, all the advanced countries have done it. Moreover in both eras, the emerging markets of the day tried to emulate the advanced countries but in many cases had great difficulties in doing so. What happened in the past century to lead to this tour de force? In this paper I survey the issue of exchange rate regime choice from the perspective of both the advanced countries and the emergers taking an historical perspective. I first survey the theoretical issues beginning with a taxonomy of regimes. I then examine the empirical evidence on the delineation of regimes and their macro performance. The penultimate section provides a brief history of monetary regimes in advanced and emerging countries. The conclusion considers the case for managed float for today's emergers. | |
| 530 | _aHardcopy version available to institutional subscribers | ||
| 538 | _aSystem requirements: Adobe [Acrobat] Reader required for PDF files. | ||
| 538 | _aMode of access: World Wide Web. | ||
| 588 | 0 | _aPrint version record | |
| 690 | 7 |
_aN20 - General, International, or Comparative _2Journal of Economic Literature class. |
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| 690 | 7 |
_aF33 - International Monetary Arrangements and Institutions _2Journal of Economic Literature class. |
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| 710 | 2 | _aNational Bureau of Economic Research. | |
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_aWorking Paper Series (National Bureau of Economic Research) _vno. w9654. |
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| 856 | 4 | 0 | _uhttps://www.nber.org/papers/w9654 |
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_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w9654 |
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_2ddc _cW-PAPER |
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_c338521 _d297083 |
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