This book compares and contrasts flexible versus fixed exchange rate regimes. Beginning with their theoretical justifications, it showcases their observed advantages and disadvantages as they played out in the currency crises of the 1990s and early 2000s across Asia, Europe and Latin America. An analysis of the drivers and implications of these crises singles out fast-paced liberalization and globalization as having played central roles. Moreover it sheds light on some of the factors contributing to the 2008 financial crisis and the key monetary events in its aftermath. An accessible, yet rigorous discussion, supported by extensive evidence, helps readers reach their own conclusions regarding the respective merits of alternative exchange rate systems.
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Marin Muzhani has a Ph.D. in economics from the University of Florence, teaches at CDI College, and has been a post-doctoral researcher at the University of Florence. He has also worked as visiting scholar at different universities in Europe and North America. His interests and research are related mostly to growth economics, macroeconomics, and modern monetary theories such as optimum currency areas and monetary unions. Muzhani has participated in important international economic conferences, such as HES ('History of Economic Society'), ESHET ('European Society of Economic Thought'), AEA ('American Economic Association'), EEA ('European Economic Association'), etc. Apart from this new title, he is the author of two successful mono volumes: "Mainstream Growth Economists and Capital Theorists," published by 'McGill-Queen's University Press' (MQUP) in 2014, and "Fixed or Flexible Exchange Rates? History and Perspectives", published by 'Vernon Press', in 2018.
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