Korea’s Postcrisis Exchange Rate Policy

There are few areas about which there is a greater range of opinions among international monetary experts than the issue of exchange rate regimes. Eminent economists can be found who support almost any position. However, this range masks the substantial amount of agreement among a broad majority of serious students of international monetary economics. Even though economists might not agree on the exact content of optimal policy strategies, they often agree substantially about the wrong policies and the dimensions of the ballpark for appropriate policies.