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Bretton-Woodský měnový systém: Systém fixních nebo de-facto plovoucích kurzů?
[Bretton-Woods Monetary System: Was It Fixed or De-facto Floating?]

Author

Listed:
  • Bednarik, Radek

Abstract

International monetary system made by agreement in Bretton – Woods, is widely known to be the system of fixed exchange rates with allowed +/- 1% band of oscillation. As such, it is viewed as the period of exchange rates stability. However, our analysis of Reinhart – Rogoff’s (2004) database of exchange rates regimes shows, that most countries chose far more flexible exchange rates’ regimes. By the same token, the de – facto exchange rates varied very often and substantially from the officially declared ones.

Suggested Citation

  • Bednarik, Radek, 2009. "Bretton-Woodský měnový systém: Systém fixních nebo de-facto plovoucích kurzů? [Bretton-Woods Monetary System: Was It Fixed or De-facto Floating?]," MPRA Paper 15297, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:15297
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    References listed on IDEAS

    as
    1. Meissner, Christopher M. & Oomes, Nienke, 2009. "Why do countries peg the way they peg? The determinants of anchor currency choice," Journal of International Money and Finance, Elsevier, vol. 28(3), pages 522-547, April.
    2. Carmen M. Reinhart & Kenneth S. Rogoff, 2004. "The Modern History of Exchange Rate Arrangements: A Reinterpretation," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 119(1), pages 1-48.
    3. Michael D. Bordo, 2003. "Exchange Rate Regime Choice in Historical Perspective," NBER Working Papers 9654, National Bureau of Economic Research, Inc.
    4. Michael D. Bordo, 1993. "The Bretton Woods International Monetary System: A Historical Overview," NBER Chapters, in: A Retrospective on the Bretton Woods System: Lessons for International Monetary Reform, pages 3-108, National Bureau of Economic Research, Inc.
    5. Michael D. Bordo, 2003. "Exchange Rate Regime Choice in Historical Perspective," IMF Working Papers 2003/160, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    International monetary system; Bretton – Woods; foreign exchange rates; peg; floating;
    All these keywords.

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

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