Devaluation-bias and the Bretton Woods system

The exchange-rate system established at Bretton Woods was intended to combine a fixity of the par-value of each member’s currency in the short run with a flexibility of the parity in the longer-run. Because of this emphasis on the fixity of the spot rates and of the parity in the short run, the Fund...

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Bibliographic Details
Main Author: S.I. KATZ
Format: Article
Language:English
Published: Associazione Economia civile 2013-11-01
Series:PSL Quarterly Review
Subjects:
Online Access:https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/11133

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