IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-1-349-16863-7_2.html
   My bibliography  Save this book chapter

Floating Exchange Rates: the Lessons of Experience

In: Exchange Rate Policy

Author

Listed:
  • Roy A. Batchelor
  • Geoffrey E. Wood

Abstract

Economists often make bad predictions and hand out bad advice. As often, their excuse is that the world never stands still long enough to allow current theories to bear fruit in the fields of prediction and policy-making. This excuse can, however, hardly be advanced in discussions of exchange rate theory or policy; our experience of exchange rate regimes has been extraordinarily rich, and the changes in those regimes have followed a clearly discernible pattern: In the twentieth century alone, international trade and payments among developed nations have been conducted in three periods under fixed exchange rates—the pre-1914 gold standard, the resurrected gold standard of the late 1920s and early 1930s, and the de facto dollar standard of the 1950s and 1960s — and in the three succeeding periods of floating exchange rates — in the 1920s, the mid-1930s, and the 1970s.

Suggested Citation

  • Roy A. Batchelor & Geoffrey E. Wood, 1982. "Floating Exchange Rates: the Lessons of Experience," Palgrave Macmillan Books, in: Roy A. Batchelor & Geoffrey E. Wood (ed.), Exchange Rate Policy, chapter 1, pages 12-47, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-16863-7_2
    DOI: 10.1007/978-1-349-16863-7_2
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Terence C. Mills & Geoffrey E. Wood, 1993. "Does the exchange rate regime affect the economy?," Review, Federal Reserve Bank of St. Louis, issue Jul, pages 3-20.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-1-349-16863-7_2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.