The U.S. Dollar in International Markets: Mid-1970 to Mid-1976
One of the most controversial issues in the area of international trade and finance has been that of the relative desirability of fixed versus floating exchange rates. Disagreement on this issue is widespread and has been, in the recent past, the major stumbling block to a general agreement within the International Monetary Fund (IMF) regarding the future form of the international payments mechanism.
follow @stlouisfed