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Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/3859
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| Title: | | International exchange rate systems: Where do we stand?  |
| Authors: | | Siebert, Horst |
| Issue Date: | | 2006 |
| Series/Report no.: | | Kieler Arbeitspapiere 1288 |
| Abstract: | | This paper analyzes institutional arrangements for exchange rate systems and reviews what we know. It looks at the foreign exchange market, different balance of payment situations in which countries find themselves and the necessary exchange rate adjustments. It studies the options that are available to countries in choosing their exchange rate system (type of nominal anchor, nominal anchor versus real target and the degree of sovereignty to be given up) and reviews the historical experience for multilateral options. The actual system is a fragile low-inflation central bank dominated arrangement. Options for the future rest on quite a few idealistic ideas. In addition to choosing the exchange rate system, adopting the right exchange rate is also addressed. |
| Subjects: | | Exchange rate systems Balance of payments situations External and internal equilibrium Choosing the exchange rate system |
| JEL: | | E42 F31 F32 E F33 E5 E58 E61 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des IfW Economists Online Kieler Arbeitspapiere, IfW
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| kap1288.pdf | | 636.5 kB | Adobe PDF |
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