The Exchange Rate System: Lessons of the Past and Options for the Future

International Monetary Fund

No 1984/003, IMF Occasional Papers from International Monetary Fund

Abstract: The last few years have witnessed a resurgence of calls for a re-examination, or perhaps even a reform, of the international monetary system. This paper contributes to the ongoing debate on that subject in three ways: 1 it suggests a set of criteria for evaluating alternative exchange rate systems; 2 it provides a comprehensive appraisal of a decade of experience with the present exchange rate system in terms of those criteria; and 3 it selects some key issues as a basis for discussion on how the evolution of the exchange rate system might best be managed over the medium term.

Keywords: OP; exchange rate system; rate; exchange rate; system option; adjustable peg; exchange rate variability; exchange rate movement; system in terms; Exchange rates; Exchange rate arrangements; Exchange rate adjustments; Current account; Currencies; Global; Europe (search for similar items in EconPapers)
Pages: 71
Date: 1984-07-08
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Citations: View citations in EconPapers (10)

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