International Monetary System. ALTERNATIVE EXCHANGE RATE SYSTEMS A BRIEF HISTORY OF THE INTERNATIONAL MONETARY SYSTEM THE EUROPEAN MONETARY SYSTEM Costs and benefits of a single currency. Alternative Exchange Rate Systems (Obvious but important point).
Fixed Rate System: Government maintains target rates and if rates threatened, central banks buy/sell currency. A fixed rate system is the ultimate good news bad news joke. The good is very good and the bad is very bad.
Bretton Woods System: 1945-1972
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