Exchange Rate Regime Choice in Historical Perspective

28 Pages Posted: 15 Feb 2006

See all articles by Michael D. Bordo

Michael D. Bordo

Rutgers University, New Brunswick - Department of Economics; National Bureau of Economic Research (NBER)

Multiple version iconThere are 2 versions of this paper

Date Written: August 2003

Abstract

In this paper, I survey the issue of exchange rate regime choice from the perspective of both the industrial and emerging economies taking an historical perspective. I first survey the theoretical issues beginning with a taxonomy of regimes. I then examine the empirical evidence on the delineation of regimes and their macroeconomic performance. The penultimate section provides a brief history of monetary regimes in industrial and emerging economies. The conclusion considers the case for a managed float regime for today`s emerging economies.

Keywords: Gold standard Bretton Woods system exchange rate regimes

JEL Classification: E42 F31 F33

Suggested Citation

Bordo, Michael D., Exchange Rate Regime Choice in Historical Perspective (August 2003). IMF Working Paper, Vol. , pp. 1-28, 2003. Available at SSRN: https://ssrn.com/abstract=879236

Michael D. Bordo (Contact Author)

Rutgers University, New Brunswick - Department of Economics ( email )

New Brunswick, NJ
United States

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

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