Frankel, Jeffrey A. - In: CESifo economic studies : CESifo, a joint initiative of … 52 (2006) 2, pp. 246-275
Fixed and flexible exchange rates each have advantages, and a country has the right to choose the regime suited to its circumstances. Nevertheless, several arguments support the view that the de facto dollar peg may now have outlived its usefulness for China. (i) Although foreign exchange...
