But because countries no longer are obligated to peg their exchange rates in a system overseen by the IMF, they need a sound basis for selecting the regime best suited to their needs—be it fixed, ...

but the road to that system has been tumultuous, shaped by a series of mistrials In 1944, a mechanism for fixed exchange rates was established with the appointment of the US dollar as the ...

Under the gold standard, a country’s monetary policy was ... officials at the 1944 Bretton Woods conference to establish a system of “fixed but adjustable” exchange rates so that the turmoil of the ...