The Comparative Performance of Fixed and Flexible Exchange Rate Regimes : Interwar Evidence
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https://www.nber.org/papers/w3097
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This paper reports evidence on the characteristics of fixed and flexible exchange rate regimes. It contrasts experience under three interwar exchange rate regimes: the free float of the early 1920s, the fixed rates of 1927-31, and the managed float of the early 1930s. A number of important
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美国国家经济研究局创建时间：
1989-09-01
