France and the Bretton Woods International Monetary System, 1960 to 1968
France and the Bretton Woods International Monetary System, 1960 to 1968

Author: Michael D. Bordo

Publisher:

Published: 1994

Total Pages: 56

ISBN-13:

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We reinterpret the commonly held view in the U.S. that France, by following a policy from 1965 to 1968 of deliberately converting their dollar holdings into gold helped perpetuate the collapse of the Bretton Woods International Monetary System. We argue that French international monetary policy under Charles de Gaulle was consistent with strategies developed in the interwar period and the French Plan of 1943. France used proposals to return to an orthodox gold standard as well as conversions of its dollar reserves into gold as tactical threats to induce the United States to initiate the reform of the international monetary system towards a more symmetrical and cooperative gold-exchange standard regime.

France and the Bretton Woods International Monetary System
France and the Bretton Woods International Monetary System

Author: Eugene White

Publisher:

Published: 1996

Total Pages:

ISBN-13:

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We reinterpret the commonly held view in the U.S. that France, by following a policy from 1965 to 1968 of deliberately converting their dollar holdings into gold helped perpetuate the collapse of the Bretton Woods International Monetary System. We argue that French international monetary policy under Charles de Gaulle was consistent with strategies developed in the interwar period and the French Plan of 1943. France used proposals to return to an orthodox gold standard as well as conversions of its dollar reserves into gold as tactical threats to induce the United States to initiate the reform of the international monetary system towards a more symmetrical and cooperative gold-exchange standard regime

France and the Breakdown of the Bretton Woods International Monetary System
France and the Breakdown of the Bretton Woods International Monetary System

Author: Ms.Dominique Simard

Publisher: International Monetary Fund

Published: 1994-10-01

Total Pages: 58

ISBN-13: 1451935366

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The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.

Do Old Habits Die Hard? Central Banks and the Bretton Woods Gold Puzzle
Do Old Habits Die Hard? Central Banks and the Bretton Woods Gold Puzzle

Author: Eric Monnet

Publisher: International Monetary Fund

Published: 2019-07-24

Total Pages: 32

ISBN-13: 1498326773

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Why did monetary authorities hold large gold reserves under Bretton Woods (1944–1971) when only the US had to? We argue that gold holdings were driven by institutional memory and persistent habits of central bankers. Countries continued to back currency in circulation with gold reserves, following rules of the pre-WWII gold standard. The longer an institution spent in the gold standard (and the older the policymakers), the stronger the correlation between gold reserves and currency. Since dollars and gold were not perfect substitutes, the Bretton Woods system never worked as expected. Even after radical institutional change, history still shapes the decisions of policymakers.

International Monetary Policy
International Monetary Policy

Author: W. M. Scammell

Publisher:

Published: 1975

Total Pages: 280

ISBN-13:

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Monograph on international monetary policy trends and the international monetary system since 1944 - covers the planning and implementation of the bretton woods system, the IMF, problems of balance of payments adjustment, exchange rate management and international liquidity, etc., and considers plans for international monetary reform. References.