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Bluford Putnam

Titles by This Editor

In 1973, the world moved from fixed exchange rates, pegged to the gold standard or an agreed-upon currency, to the floating system of flexible exchange rates, constrained only by the occasional intervention of the central banks of various nations. The eighteen essays in this book explore what the shift has meant for world economic interdependence and seek to clarify what has become an extremely complex system. All but two are published here for the first time.Following Rudiger Dornbusch's Foreword, Jacob A. Frenkel reviews the history of flexible exchange rates.