Chapter organization The Case for Floating Exchange rates The Case Against Floating Exchange rates Macroeconomic Interdependence Under a Floating Rate What Has been Learned since 1973? Are Fixed Exchange Rates Even and Option for most Countries? Directions for reform Summary Appendix: International Policy Coordination Failures Copyright C 2003 Pearson Education, Inc Slide 19-2Copyright © 2003 Pearson Education, Inc. Slide 19-2 Chapter Organization ▪ The Case for Floating Exchange Rates ▪ The Case Against Floating Exchange Rates ▪ Macroeconomic Interdependence Under a Floating Rate ▪ What Has Been Learned Since 1973? ▪ Are Fixed Exchange Rates Even and Option for Most Countries? ▪ Directions for Reform ▪ Summary ▪ Appendix: International Policy Coordination Failures