The conference also provided a nicely balanced assessment of the choice between the extreme solutions for exchange rate regimes – that is, between flexible and very fixed exchange rate regimes. While the discussion clarified the problems and choices, it still left me still leaning towards flexible exchange rates. BIS Review 110/1999  12
To many observers, the coincidence of a large share of permanent job losses and sluggish job creation indicates a pronounced shift in the optimal allocation of workers across firms or industries that is, an elevated pace of economic restructuring.