„Fixed Exchange“

1. When Governments or their Central Banks administratively set the exchange rate for their currency.

2. An administratively set exchange rate where no rate fluctuations are permitted.

Frankel, Jeffrey A., and Andrew K. Rose. “An Estimate of the Effect of Common Currencies on Trade and Income.” The Quarterly Journal of Economics, vol. 117, no. 2, 2002, pp. 437-466.

Stein, Jerome L. “The Optimal Debt and Fiscal Policy in the Open Economy.” Economics Letters, vol. 37, no. 2, 1991, pp. 133-137.