1. But the system of fixed exchange rates established after the war and based on the dollar had already disintegrated by that time.

2. Indeed, permanently fixed exchange rates could be positively harmful since changing parities can act as a buffer to absorb economic shocks.

3. Insulation from external inflation With fixed exchange rates, inflation abroad is transmitted directly into higher import prices.

4. Once the system of fixed exchange rates had been abandoned there was no alternative but for currencies to float.

5. So, fixed exchange rates or narrow bands simply do not allow countries the flexibility to solve their internal economic troubles.

6. This uncertainty argument in favour of fixed exchange rates is based upon the apparent instability of capital flows.

7. Revaluation refers to fixed exchange rates.

8. Since the Bretton Woods system of fixed exchange rates collapsed in 1971, the average has been 3.3%.

9. It would be better fixed exchange rates ( or , better still, dollarisation ) and freely floating rates.

10. European nations, in particular, maintained a hankering for fixed exchange rates.

11. But he shares the view that fixed exchange rates would worsen matters.

12. We abandoned that after the war for the Bretton Woods system of fixed exchange rates.

13. Since the fundamentals are almost never equivalent,[/fixed exchange rates.html] a world of fixed exchange rates requires periodic exchange rate adjustments.

14. The meeting was prompted by the economic aftermath of the 1973 oil embargo and the collapse of the system of fixed exchange rates, according to the New York Times.

15. Several have talked grandly of a sequel to the 1944 Bretton Woods conference, which created the post-war system of fixed exchange rates and established the International Monetary Fund and World Bank.

16. That panicked America's trading partners and spelled the end of the Bretton Woods regime of fixed exchange rates.

17. The IMF would help nations with balance-of-payments problems and with difficulties maintaining reserves consistent with agreed upon fixed exchange rates defined in terms of gold.

18. After the breakdown of the Bretton Woods system of fixed exchange rates in 1973 the Deutschmark emerged as the benchmark currency in continental Europe.

19. Under the Bretton Woods arrangement currencies were pegged to the dollar at fixed exchange rates. The dollar in turn was tied to gold at a fixed price.

20. Under these arrangements, a gold standard, like a reserve currency system, results in fixed exchange rates between all currencies.