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POLI 354 (32)

The political Economy of Exchange Rates Bonz & Frieden

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McGill University
Political Science
POLI 354
Mark Brawley

The political Economy of Exchange RatesBonzFriedenThe exchange rate is the most important price in any economy it affects all other pricesThe political economy of currency policy focused on 2 sets of questions globalinternational monetary system and nationalnational policies and they interact with each otherThe International political economy of exchange rate policy2 types of ideal International monetary regimesthere are potential gradations in betweenoFix rate system currencies are tied to each other at publicly announced rates can link to gold or US dollaroFree floating national currency values vary with market conditions and national policiesGold standard before 1970s Bretton Wood monetary order currencies were fixed to US dollar and US dollar was fixed to goldMonetary refines can be regional as well as global countries fix their currency to that of a larger nationMonetary systems are the result of interaction among national exchange rate policies choosing whether or not to fix is choosing whether or not the participate in the reigning world monetary ord
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