formal evidence that pegged exchange rates impede—and floating exchange rates facilitate—external adjustment is surprisingly scant and contradictory. For example, in a large cross-country study, Chinn ...

Many countries have moved towards more flexible exchange rate ... The institutional and operational requirements needed to support a floating exchange rate, as well as difficulties in assessing the ...

In many countries, many exchange rates were out of equilibrium ... known that between the concepts of eternally fixed rates and freely floating rates there is a set of interesting solutions ...

A country also needs a domestic anchor for its monetary policy. After trying a number of different approaches, we have now settled on a monetary policy framework based on inflation targeting and a ...

The government homegrown economic reform clearly indicates that the ongoing liberalization will be consolidated.Among others the measures like privatization, forex floating, allowing foreign banks ...

However, the Bretton Wood System also collapsed between 1971 and 1973 due, mainly, to the inflationary monetary policy that was inappropriate for the key currency country. This collapse led to the ...

What is a reserve currency? How did the dollar come to dominate global trade and finance? And why might some countries prefer ...

The Jamaica Agreement abolished gold as a reserve asset and formalised the floating exchange rate system that survives to this day. Countries around the world have since chosen their own method of ...

A floating exchange rate system was adopted in 1973 ... and the U.S. and other countries operate on fiat currencies. With the elimination of the gold standard, the dollar has become the currency ...

ITAR-TASS/. Russia's economy is not ready for a floating ruble exchange rate given the threat of excessive volatility and high interest rates which had already slowed growth, presidential aide ...

This was down from 6.5 per US dollar at the start of the year, under the floating exchange rate system. Shops began to quote prices in US dollars and refused to accept Hong Kong dollar notes.

Alfaro, Laura, and Sarah Jeong. "Floating the Exchange Rate: In Pursuit of the Chinese Dream." Harvard Business School Case 320-039, November 2019.