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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
    as

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    File URL: https://mpra.ub.uni-muenchen.de/15297/1/MPRA_paper_15297.pdf
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    References listed on IDEAS

    as
    1. Carmen M. Reinhart & Kenneth S. Rogoff, 2004. "The Modern History of Exchange Rate Arrangements: A Reinterpretation," The Quarterly Journal of Economics, Oxford University Press, vol. 119(1), pages 1-48.
    2. Michael D. Bordo, 2003. "Exchange Rate Regime Choice in Historical Perspective," IMF Working Papers 03/160, International Monetary Fund.
    3. 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.
    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. repec:hrv:faseco:34721963 is not listed on IDEAS
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    International monetary system; Bretton – Woods; foreign exchange rates; peg; floating;

    JEL classification:

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

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