IDEAS home Printed from https://ideas.repec.org/h/pal/intecp/978-1-349-11570-9_10.html
   My bibliography  Save this book chapter

The Comparative Performance of Fixed and Flexible Exchange-Rate Regimes

In: Business Cycles

Author

Listed:
  • Barry Eichengreen

    (University Of California)

Abstract

The behaviour of floating exchange rates over the past 15 years has surprised and dismayed the proponents of flexibility. Nominal exchange rates have displayed a strikingly high degree of variability. The rise in nominal exchange-rate variability has been accompanied by a rise in real exchange-rate variability. Many observers believe that the connection is causal: that nominal exchange-rate movements have been a source of costly swings in relative prices. Exchange-rate flexibility does not seem to have provided the insulation from foreign disturbances or the autonomy for domestic policy predicted by early models. The implication is that exchange-rate flexibility may have larger costs and smaller benefits than forecast in 1973.

Suggested Citation

  • Barry Eichengreen, 1991. "The Comparative Performance of Fixed and Flexible Exchange-Rate Regimes," International Economic Association Series, in: Niels Thygesen & Kumaraswamy Velupillai & Stefano Zambelli (ed.), Business Cycles, chapter 10, pages 229-275, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-11570-9_10
    DOI: 10.1007/978-1-349-11570-9_10
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Maurice Obstfeld & Alan M. Taylor, 1998. "The Great Depression as a Watershed: International Capital Mobility over the Long Run," NBER Chapters, in: The Defining Moment: The Great Depression and the American Economy in the Twentieth Century, pages 353-402, National Bureau of Economic Research, Inc.
    2. Barry Eichengreen., 1992. "Three Perspectives on the Bretton Woods System," Economics Working Papers 92-191, University of California at Berkeley.
    3. Susanto Basu & Alan M. Taylor, 1999. "Business Cycles in International Historical Perspective," Journal of Economic Perspectives, American Economic Association, vol. 13(2), pages 45-68, Spring.
    4. Amuedo-Dorantes, Catalina & Pozo, Susan, 2001. "Prewar and Postwar Macroeconomic Uncertainty: An International Perspective," Journal of Macroeconomics, Elsevier, vol. 23(4), pages 615-631, October.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:intecp:978-1-349-11570-9_10. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.