Asici, Ahmet; Wyplosz, Charles - Volkswirtschaftliche Fakultät, … - 2003
arrangements are happy. Most countries hesitate to leave the peg when it is working properly, and consider exit option only when … that need to be satisfied to ensure an exit without significant economic costs. Historical record of exchange rate …, efficient and deep financial markets do not help with exits. Countries encouraged to exit pegs before they fully liberalize …