Exchange Rate Regimes: the future
{"Image DocumentName": "Exchange Rate Regimes: the future?", "Image ImageDescription": "All exchange rate regimes must deal with the tradeoff between rules and freedom (vertical axis), as well as between cooperation and independence (horizontal axis) (see Exhibit 3.9) Rules. Freedom. Cooperation. independence. The pre WWI Gold Standard required adherence to rules and allowed independence. The Bretton Woods agreement (and to a certain extent the EMS) also required adherence to rules in addition to cooperation. The present system is characterized by no rules, with varying degrees of cooperation. The pre WWI Gold Standard required adherence to rules. The Bretton Woods agreement also required adherence to rules in addition to cooperation. The present system is characterized by no rules, with varying degrees of cooperation. Many believe that a new international monetary system could succeed only if it combined cooperation among nations with individual discretion to pursue domestic social, economic, and financial goals.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}