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What Three Economists Taught Us About Currency Regimes

Today, freely floating exchange rates suit most large countries better than the late economists Richard Cooper, Robert Mundell, and John Williamson thought. But some countries do well with firmly fixed exchange rates, while at least half of the world’s countries fall in between.

CAMBRIDGE – A generation of great international economists is passing from the scene. Richard Cooper died on December 23, Robert Mundell on April 4, and John Williamson on April 11.