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From the Bretton Woods to the European Monetary System
Exchange Rate Changes and the International Monetary Fund
Disillusionment with the FloatingRate Regime
7 other sections not shown
accepted adjustment Annual appreciation arrangement assets balance of payments become billion Bretton Woods capital capital movements cause central banks Community continued costs countries currencies current account decline deficit demand depreciation despite determined Deutsche Bundesbank Deutsche mark devaluation developments dilemma disequilibria divergence dollar domestic economic policies effect engage especially establishment European Monetary System exchange rate changes exist expected exports external Federal finance flexible exchange rates float flows fluctuations force foreign exchange markets franc Germany Germany's goals greater growth higher important increase indicator inflation rates inflationary influence interest rate differentials International Monetary interventions Italy latter longer lower major March margins ment monetary policy move nominal October operations pegged percent period political position possible pressures realignment reasons reduce relative Report reserve result sector short snake stability supply surplus Swiss tion trade transactions unemployment United weakness