Put simply, exchange rates compare the value of one currency to another. They measure how much of one currency it takes to purchase a unit of another. Exchange rates are ultimately determined in ...

Abstract: This paper draws together some lessons and questions about exchange rate systems and attempts to state what is known and what is not known about them. It begins by revisiting the bipolar ...

The economic crises of the 1990s forced many countries to reexamine their choice of exchange rate regimes and to move away from more crisis-prone arrangements. This resulted in a shift from soft ...

Purchase or sale of the currencies of other nations by a central bank for the purpose of influencing foreign exchange rates or maintaining orderly foreign exchange markets. Also called ...

Many economists argue that a flexible exchange rate regime is preferable to a fixed exchange rate regime because it helps to insulate the domestic economy from adverse external shocks. For example, ...

Robert Kelly is managing director of XTS Energy LLC, and has more than three decades of experience as a business executive. He is a professor of economics and has raised more than $4.5 billion in ...