SDRs were created in 1969 to support the Bretton Woods fixed exchange rate system.
If a country does not improve its fiscal policy, a fixed-rate system may simply store up trouble.
An era of austerity, which the floating-rate system was designed to avoid, is going to occur after all.
ECONOMIST: The link between exchange rates and asset markets
Like any fixed exchange-rate system, a currency board offers the prospect of a stable exchange rate, which can promote both trade and investment.
The balance of payments and exchange rates were making news, and the slow break-up of the Bretton Woods fixed-exchange rate system was under way.
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But then, President Nixon took the dollar off that fixed exchange rate system, and it's very hard to imagine how we could go back there now.
But that's the collateral damage from a multitiered tax-rate system.
But a floating-rate system is not a free lunch either.
ECONOMIST: The link between exchange rates and asset markets
Do away with the current seven tax rate system applied to individual taxpayers, which currently ranges from 10% to 39.6%, and replace it with only two rates: 10% and 25%.
FORBES: Tax Aspects Of Paul Ryan's FY 2014 Republican Budget Proposal
In the 433 months since trading freely following 1973's demise of the Bretton Woods exchange-rate system, gold has had a 7.1% average annual return, achieved solely from six relatively brief spikes.
The three key elements of this policy remained the adoption of a floating exchange rate system, the anchoring of monetary policy to the inflation target and the acceleration of banking sector reforms, he said.
That manipulated, pegged, or fixed-rate system worked well in the early postwar years when there was apparently an unlimited demand for dollar reserves, which we were happy to provide to the world in the form of external deficits.
Clearly, a two-rate system of 10% and 25% would be a radical departure from the seven-tier system we find ourselves stuck in today, and a major step towards a system where every American can quickly estimate their federal tax liability.
FORBES: Tax Aspects Of Paul Ryan's FY 2014 Republican Budget Proposal
Though Denmark achieved a measure of stability in the 1970s by joining the European Community (now Union) and its exchange-rate system, in the other Nordic countries inflationary bubbles swelled, then burst in the late 1980s, toppling banks in Sweden, Finland and Norway.
Argentina, Latin America's fastest-growing economy last year, has the most rigid exchange-rate system of all, with a currency board that fixes by law the value of the peso at parity with the dollar, and thus limits the money supply to the level of foreign currency reserves.
That financial crisis, in the course of which the Italian lira was ejected from Europe's pre-euro exchange-rate system (along with Britain's pound sterling) coincided with a huge political crisis, as corruption investigations brought crashing down the parties that had dominated Italian politics for the past 40 years.
No Republican, not even Ron Paul, is going beyond the status quo to insist that top marginal tax rates must be cut by at least a third (ideally scrapping the current income-tax system altogether and replacing it with a pro-growth, low-single-rate tax system that does not punish saving, investing and entrepreneurial risk-taking as the current progressive income tax does).
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So, this cumbersome and costly exchange rate management system either keeps investors sidelined or requires them to attach a hefty premium to any new undertaking.
Instead, the U.S. had a basically Keynesian interest-rate targeting system.
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And the most notable thing about the introduction of that system there, down from the almost impenetrable Soviet tax system, is that revenue collection went up when this low rate and simple system came in.
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The government has given the review into how the Libor rate-setting system works two weeks to publish its initial proposals.
Now work is being carried out to improve the system's detection rate and to make the whole system easy to use.
The majority of analysts (76.9%) rate Northeast Utilities System as a buy.
The majority of analysts (58.3%) rate Northeast Utilities System as a buy.
Japan may be better prepared for earthquakes and tsunamis than any other country, with stringent building codes and widespread use of advanced seismic dampening technology, as The New York Times describes, a population well-drilled on how to respond to disasters and a first-rate public health system.
The "Oneplace" website divides England into 152 areas and uses a coloured flags system to rate performance.
Capital gains are taxed at a lower rate in our tax system today to recognize and encourage people to put their money to work.
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Under today's system the rate at which firms pay unemployment tax on their wage bill varies only slightly with the companies' history of lay-offs.
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