ABSTRACT
In this chapter, we describe and analyze the evolution of the various exchange rate regimes over more than a century. Up to now, for the sake of clarity, the models developed in this textbook have been based primarily on the two extreme cases of fixed and flexible exchange rates. However, the list of exchange rate arrangements adopted by various countries now as well as in the past is extensive. Table 13.1 in Chapter 13 reproduces a table compiled by the IMF, cataloguing the various contemporary regimes.
