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The International Monetary System - Peter B. Kenen

The International Monetary System

By: Peter B. Kenen (Editor), Fabrizio Saccomanni (Editor), Francesco Papadia (Editor)

Paperback Published: 12th December 1994
ISBN: 9780521467292
Number Of Pages: 366

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In the last two decades international monetary relations have been characterised 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 policy makers 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.

Industry Reviews

."..the book is extremely stimulating, well written, and well coordinated in presenting the discussion on major issues of the international monetary system. Students of the subject will benefit immensely from this volume." Sumitra Chishti, International Studies

Foreword Carlo A. Ciampi
Introduction Peter B. Kenen, Francesco Papadia and Fabrizio Saccomanni
Overview of the Issues: Retrospects and Prospects
The international monetary issues of the Bretton Woods era Jacques
Significant episodes in the evolution of the international monetary system
International Liquidity
The rise and fall of international liquidity John Williamson
The role of market and official channels in the supply of international liquidity
High world interest rates: shortage of saving or liquidity?
Exchange Rates
Floating exchange rates reconsidered: the influence of new ideas, priorities and problems
Discussion Giancarlo
The credibility of adjustable parities: the experience of the European Monetary System Zhaohui Chen and Alberto Giovannini
Concerted interventions and the dollar: an analysis of daily data Pietro Catte
The Framework for International Economic Policy
Economic performance under alternative exchange rate regimes: some historical evidence
Improving economic policy coordination: evaluating some new and some not-so-new proposals
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521467292
ISBN-10: 0521467292
Audience: Professional
Format: Paperback
Language: English
Number Of Pages: 366
Published: 12th December 1994
Country of Publication: GB
Dimensions (cm): 22.86 x 15.24  x 2.54
Weight (kg): 0.52