The Crawling Peg in Historical Perspective

John Williamson

Chapter 1 in Exchange Rate Rules, 1981, pp 3-37 from Palgrave Macmillan

Abstract: Abstract This paper is intended to provide a guide to the evolution of thought about the crawling peg, with a view to furnishing a base from which renewed discussion of the topic can proceed fruitfully. It starts with a brief consideration of certain terminological issues. This is followed by what is in effect a survey article of the academic literature on the crawling peg. There is then a parallel account of the history of discussions at the official level, followed by an enumeration of those cases in which the crawling peg has been adopted. The final section contains a reformulation of the proposal suggested by the preceding discussion, aimed at providing a basis for discussion during the conference.

Keywords: Exchange Rate; Monetary Policy; Real Exchange Rate; Purchase Power Parity; Exchange Rate Regime (search for similar items in EconPapers)
Date: 1981
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-05166-3_1

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DOI: 10.1007/978-1-349-05166-3_1

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