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He was one of the first to advocate floating exchange rates for small countries.
No, problems of this sort can only be solved by floating exchange rates.
Chile and Mexico, with their floating exchange rates, are doing well.
Finally let us see what happens when money supply changes in an open economy with floating exchange rates.
Such fluctuations are inevitable in a floating exchange rate system.
The currencies of most developed countries have floating exchange rates.
On February 27, 1980, efforts were initiated to lead to a floating exchange rate.
This is how we have discussed matters since the establishment of the floating exchange rate system.
Changes in money supply from this source are likely to be much greater under a fixed than a floating exchange rate.
Under a floating exchange rate system, equilibrium would have been achieved at e.
But he added, "We're committed to this regime of floating exchange rates."
It trades against other major currencies at floating exchange rates.
Although a number of the officials complained about the floating exchange rate system, they presented only a few ideas on how to improve it.
"For many years, everybody in America thought floating exchange rates were the answer, but now there's a sense that this exacerbates the problem."
Since 1970, Canada has had a floating exchange rate, which means that the market, not the government, determines the currency's value.
On December 24, 1997, free floating exchange rate was adopted to support liberalization of the capital market.
The example of Britain shows that a floating exchange rate does not automatically result in higher competitiveness.
In floating exchange rate correct term would be appreciation.
The consequence was that a government had to choose between either fixed or fully floating exchange rate systems.
Nixon moved us into a very different monetary universe of floating exchange rates, something we are still coping with today.
Therefore continuous current account adjustment via a floating exchange rate may not always be successful.
A free floating exchange rate would increase foreign exchange volatility.
Such a plan has received attention here recently because, even more than a floating exchange rate, it would presumably eliminate opportunities for speculation.
Alas, Brazil is not a good candidate for a permanent floating exchange rate scheme.
But floating exchange rates and a tax on surpluses would help adjust the imbalances.