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A growing number of countries are adopting flexible exchange rate regimes because flexibility offers more protection against external shocks and greater monetary independence. Other countries have made the transition under disorderly conditions, with the sharp depreciation of their currency during a crisis. Regardless of the reason for adopting a flexible exchange rate, a successful transition depends on the effective management of a number of institutional and operational issues. The authors of this Economic Issue describe the necessary ingredients for moving to a flexible regime, as well as the optimal pace and sequencing under different conditions.
A growing number of countries are adopting flexible exchange rate regimes because flexibility offers more protection against external shocks and greater monetar
Volatile exchange rates and how to manage them are a contentious topic whenever economic policymakers gather in international meetings. This book examines the b
Many countries have moved towards more flexible exchange rate regimes over the last decade to take advantage of greater monetary policy autonomy and flexibility
A growing number of countries are adopting flexible exchange rate regimes because flexibility offers more protection against external shocks and greater monetar
This paper identifies the institutional and operational requisites for transitions to floating exchange rate regimes. In particular, it explores key issues unde