Word: pegged
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Shorn of Britches. Those fortunate enough to catch Lisagor in print (his features and weekend columns are syndicated in 90 cities but seldom appear in D.C. or New York) find Pete hanging on no ideological peg. An apolitical anomaly in a highly partisan town, he is praised by Bill Buckley's National Review and quoted by the liberal New Republic. "An old editor once told me to walk down the middle of the street and shoot windows out on both sides," he says. "I guess that's about what I try to do." He will agonize for hours...
Anne zips around London at a royal clip in her own dark blue Rover 2000, dances till dawn at various London nightspots (Mother never waits up for her), rides in horse trials all over the country, buys many of her clothes off the peg in London's King's Road boutiques and wears severe Stetson-style hats instead of the flowery horrors that crown so many royal heads. Last year she sent Britons into paroxysms of one sort or another when she jumped onstage for the finale of the rock musical Hair and spent ten wild minutes dancing...
This rise of 8.5%* is more than the 6.25% proposed by Economics Minister Karl Schiller last spring. It is also more than the 7.25% revaluation carried out by market forces in the four weeks since the mark was cut loose from its old peg. Schiller called the new rate "the golden mean-courageous but not foolhardy." It was clearly a compromise. Schiller wanted a change large enough to anticipate a continuing higher inflation rate outside Germany, but German industrialists argued for a lower figure. By making German exports more expensive and foreign countries' exports more competitive, the change should...
...Road Ahead. At its September meeting in Washington, the International Monetary Fund is expected to appoint a committee to study the many peg plans. IMF Executive Director Pierre-Paul Schweitzer has invited official discussion of the peg and a companion plan for greater exchange-rate flexibility, the "wider band." Under this plan, currencies would be allowed to swing 2% to 3% above or below their official parity. A wider band would give the crawling peg more room in which to crawl, and would lessen the frequency with which central banks have to intervene in world money markets to support...
France's Giscard d'Estaing believes that a peg system could be operating a year or two after a decision to go ahead. Other economists recall that Special Drawing Rights-so-called "paper gold"-took five years to move from the status of a radical academic idea to a reform that the 111 IMF nations are actually about to institute. However long reform may take, more and more moneymen regard the crawling peg as an idea whose time has come...