B. Kenen / Francesco Papadia / Fabrizio Saccomanni (eds.)

The International Monetary System

Herausgeber: Kenen, Peter B.; Saccomanni, Fabrizio; Papadia, Francesco

• Broschiertes Buch

Produktbeschreibung

In the last two decades international monetary relations have been characterized by latent instability, and more recently by severe tensions. Yet the issue of reforming the international monetary system does not appear on the agenda of the policymakers of the major countries involved. The International Monetary System tries to analyse this apparent contradiction. It brings together contributions from some of the most authoritative academic economists and monetary officials, and examines each of the fundamental functions of the international monetary system. There is broad support for improving present monetary arrangements with the aim of ensuring more stable conditions in monetary and financial markets and of promoting the orderly adjustment of payments disequilibria. For political reasons a fully fledged reform exercise is unlikely, but very few experts seem to like the status quo. This book provides the reader with a comprehensive account of the institutional and policy changes required to manage an increasingly integrated and interdependent global monetary and financial system.

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Produktdetails

• Verlag: Cambridge University Press
• Seitenzahl: 366
• Erscheinungstermin: 3. April 2012
• Englisch
• Abmessung: 229mm x 152mm x 22mm
• Gewicht: 594g
• ISBN-13: 9780521467292
• ISBN-10: 0521467292
• Artikelnr.: 21135498

Inhaltsangabe

Foreword Carlo A. Ciampi; Introduction Peter B. Kenen, Francesco Papadia
and Fabrizio Saccomanni; Part I. Overview of the Issues: Retrospects and
Prospects: 1. The international monetary issues of the Bretton Woods era
Jacques J. Polak; 2. Significant episodes in the evolution of the
international monetary system Guido Carli; Discussion Robert Z. Aliber and
Fred C. Bergsten; Part II. International Liquidity: 3. The rise and fall of
international liquidity John Williamson; Discussion Rainer S. Masera and
Robert A. Mundell; 4. The role of market and official channels in the
supply of international liquidity Andrew Crockett; Discussion Robert D.
Hormats and Stefano Micossi; 5. High world interest rates: shortage of
saving or liquidity? William H. Branson; Discussion Marcello de Cecco and
Alexandre Swoboda; Part III. Exchange Rates: 6. Floating exchange rates
reconsidered: the influence of new ideas, priorities and problems Peter B.
Kenen; Discussion Giancarlo Gandolfo and Ronald McKinnon; 7. The
credibility of adjustable parities: the experience of the European Monetary
System Zhaohui Chen and Alberto Giovannini; Discussion Luigi Spaventa and
Niels Thygesen; 8. Concerted interventions and the dollar: an analysis of
daily data Pietro Catte, Giampaolo Galli and Salvatore Rebecchini;
Discussion Giorgio Basevi, Jeffrey A. Frankel and Edwin M. Truman; Part IV.
The Framework for International Economic Policy: 9. Economic performance
under alternative exchange rate regimes: some historical evidence Tamim
Bayoumi and Barry Eichengreen; 10. Improving economic policy coordination:
evaluating some new and some not-so-new proposals Morris Goldstein;
Discussion Richard N. Cooper, Lamberto Dini, Leonhard Gleske, Toyoo Gyohten
and Jacques de Larosière.