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Exchange Rate Regime Choice in Historical Perspective | NBER
Source: nber.org
Article summary:
1. This article surveys the issue of exchange rate regime choice from an historical perspective, examining both advanced countries and emerging markets.
2. It provides a taxonomy of regimes and examines the empirical evidence on their macro performance.
3. It also provides a brief history of monetary regimes in advanced and emerging countries, concluding with the case for managed float for today's emergers.
Article analysis:
This article is generally reliable and trustworthy, as it provides a comprehensive overview of exchange rate regime choice from an historical perspective. The author has provided a taxonomy of regimes and examined the empirical evidence on their macro performance, as well as providing a brief history of monetary regimes in advanced and emerging countries. The author has also presented both sides of the argument fairly, noting potential risks associated with managed float for today's emergers. However, there are some areas where the article could be improved upon; for example, it does not explore counterarguments to its conclusions or provide any additional evidence to support its claims. Additionally, there is no discussion of potential biases or sources of partiality that may have influenced the author's conclusions. In conclusion, this article is generally reliable but could benefit from further exploration into potential biases and counterarguments to its conclusions.