Publication
Aug 2006
This paper examines institutional arrangements for exchange rate systems. The author discusses the foreign exchange market, different balance of payment situations in which countries find themselves and the necessary exchange rate adjustments. Moreover, he studies the options that are available to countries in choosing their exchange rate system and reviews the historical experience for multilateral options. He holds that the actual system is a fragile low-inflation central bank dominated arrangement and that options for the future rest on a few idealistic ideas.
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English (PDF, 46 pages, 642 KB) |
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Author | Horst Siebert |
Series | Kiel Institute Working Papers |
Issue | 1288 |
Publisher | Kiel Institute for the World Economy |
Copyright | © 2006 Kiel Institute for the World Economy |