December 1, 1997
Toronto, Ontario
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May 30, 1997
Flexible Exchange Rates in a World of Low Inflation
There is a good deal of discussion these days about Economic and Monetary Union (EMU) in Europe - about the benefits and difficulties of organizing such a union. However, today I would like to examine a somewhat different issue, one that is at the other end of the spectrum; namely, How is the international system of flexible exchange rates working these days?