This paper uses historical data from the Bretton Woods era to analyze the effectiveness of devaluation-based adjustment programs in the developing countries. Forty eight major devaluations undertaken between 1954 and 1971 are investigated in detail in an effort to understand the circumstances...

This paper uses historical data from the Bretton Woods era to analyze the effectiveness of devaluation-based adjustment programs in the developing countries. Forty eight major devaluations undertaken between 1954 and 1971 are investigated in detail in an effort to understand the circumstances...

Mexiko adopted a floating exchange rate regime in December 1994. In this paper the authors pursue an empirical investigation on the effect of the term structure of interest rates on the exchange rate for Mexico. This information could be useful to understand the operation of the Mexican floating...