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The Crawling Peg in Historical Perspective

In: Exchange Rate Rules

Author

Listed:
  • John Williamson

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.

Suggested Citation

  • John Williamson, 1981. "The Crawling Peg in Historical Perspective," Palgrave Macmillan Books, in: John Williamson (ed.), Exchange Rate Rules, chapter 1, pages 3-37, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-05166-3_1
    DOI: 10.1007/978-1-349-05166-3_1
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    Cited by:

    1. Calvo, Guillermo A. & Reinhart, Carmen M. & Vegh, Carlos A., 1995. "Targeting the real exchange rate: theory and evidence," Journal of Development Economics, Elsevier, vol. 47(1), pages 97-133, June.
    2. Roberto Frankel & Martín Rapetti, 2010. "A Concise History of Exchange Rate Regimes in Latin America," CEPR Reports and Issue Briefs 2010-11, Center for Economic and Policy Research (CEPR).
    3. Calvo, Guillermo A. & Reinhart, Carmen M. & Vegh, Carlos A., 1995. "Targeting the real exchange rate: theory and evidence," Journal of Development Economics, Elsevier, vol. 47(1), pages 97-133, June.
    4. Jaroslava Durčáková & Martin Mandel, 2002. "Exchange rate, inflation and real economic growth in transitive economies," Prague Economic Papers, Prague University of Economics and Business, vol. 2002(2), pages 135-147.

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