A modest step towards fixed parities

Authors

  • R. OSSOLA

DOI:

https://doi.org/10.13133/2037-3643/10726

Keywords:

Floating exchange rates, inflation, balance of payments, monetary zones

Abstract

Many authors welcomed the shift to floating exchange rates as they expected it to result in lower inflation, unemployment and balance of payments disequilibria. However, the new system exhibits two sharp daily fluctuations of exchange rates, imposing unwelcome risks on enterprises. Thus, the urge towards more stable exchange rates is becoming intense. The paper analyses the gradual stabilisation of exchange rates through the establishment of monetary zones.


JEL: F32, E31, F33

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Published

2013-10-11

How to Cite

OSSOLA, R. (2013). A modest step towards fixed parities. PSL Quarterly Review, 34(136). https://doi.org/10.13133/2037-3643/10726

Issue

Vol. 34 No. 136 (1981)

Section

Editorial

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