... . International Monetary Reform and the “Crawling Peg”—Comment. Federal Reserve Bank of St. Louis Review , July, 21 -25. Gafni, A., B-A. Zuckerman, and Z. Sussman. 1975 . Floating the Lira (Hebrew). Mimeo, Jerusalem. Gass, O. 1969 . Review of The Economic Development of Israel, by Nadav Halevi...

... and the “crawling peg.” Starting in the early 1970s, he favored a system characterized by fixed rates and no central banks. From that point on he argued that while flexible rates were the preferred option for advanced nations, they were the second-best solution for (most) developing countries. This article helps...

... with exchange rates” (Heckscher 1931a). He still imagined that exchange rates could be stabilized by intervention with a crawling peg arrangement: “The natu- ral compromise therefore seems to be to let the price system determine the stance of monetary policy over rather long periods, but so to speak...

... 1900 and 1914 had moved about seventy times. John Williamson’s (1983, 95) analogy of a crawling peg seems more appropriate. After the Tract, we have the beginnings of Keynes’s work on A Trea- tise on Money (1930), which coincided with Dennis Robertson’s exten- sion of his earlier ideas...

..., in a manner that is not different from the “crawling peg” exchange rate regime adopted in the 1960s by a num- ber of developing countries, including Brazil, Chile, and Colombia. The key in all these cases is that changes in E are small—as noted, Fisher himself thought that an upper bound for adjusting...

..., on the introduction of the crawling-peg (mini-devaluation) exchange rate regime, which was first suggested in 1966, but which was not adopted until 1975. The extent to which relatively junior levels can thus affect policy may be illustrated by the fact that the recent (1977-78) interde- partmental debate...

... the adjustable against the crawling peg regime. In his first version of the Clearing Union (September 1941), he denied the viability of the classical adjustment mechanism as “a doctrinaire delusion which disregards the lessons of historical experience without having behind it the support of sound theory...

... of Brazilian 1964 66 wage dynamics. In fact, esca- lator clauses started to be introduced gradually in 1964 (Fishlow 1974). It was only in the middle of 1965 that wage indexation laws were introduced (see Kafka 1967 and note 16 above); they were changed and fully imple- mented a year after that. The crawling...