Exorbitant Privilege
Author: Barry Eichengreen
Publisher: Oxford University Press
Published: 2011-01-07
Total Pages: 224
ISBN-13: 0199753784
DOWNLOAD EBOOKIt is, as a critic of U.S.
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Author: Barry Eichengreen
Publisher: Oxford University Press
Published: 2011-01-07
Total Pages: 224
ISBN-13: 0199753784
DOWNLOAD EBOOKIt is, as a critic of U.S.
Author: Michael Kandiah
Publisher:
Published: 2001
Total Pages: 52
ISBN-13: 9781871348699
DOWNLOAD EBOOKAuthor: Benn Steil
Publisher: Princeton University Press
Published: 2013-02-24
Total Pages: 480
ISBN-13: 0691149097
DOWNLOAD EBOOKRecounts the events of the Bretton Woods accords, presents portaits of the two men at the center of the drama, and reveals Harry White's admiration for Soviet economic planning and communications with intelligence officers.
Author: Dennis Pfeiffer
Publisher:
Published: 2012
Total Pages: 30
ISBN-13: 9783656165408
DOWNLOAD EBOOKProject Report from the year 2011 in the subject Economics - Monetary theory and policy, grade: 1,0, Heilbronn University, language: English, abstract: The international monetary system is the framework that unifies individual economies in the modern world. Its function is to guarantee regulation and stability, to settle financial embarrassment and to provide international monetary resources in case of economic disruptions within the system. (Eichengreen, 2000) Without understanding how the international monetary order works it is impossible to comprehend the mechanisms of the world economic system. This term paper therefore describes the history of the international monetary system from 1870 up to 1973. Additionally it examines the advantages and disadvantages of an alternative floating exchange rate system, as well as the phenomenon of the so called Bretton Woods II between China and the USA.
Author: Jeffry A. Frieden
Publisher: W. W. Norton & Company
Published: 2020-07-21
Total Pages: 807
ISBN-13: 1324004207
DOWNLOAD EBOOK"One of the most comprehensive histories of modern capitalism yet written." —Michael Hirsh, New York Times An authoritative, insightful, and highly readable history of the twentieth-century global economy, updated with a new chapter on the early decades of the new century. Global Capitalism guides the reader from the globalization of the early twentieth century and its swift collapse in the crises of 1914–45, to the return to global integration at the end of the century, and the subsequent retreat in the wake of the financial crisis of 2008.
Author: Michael D. Bordo
Publisher: University of Chicago Press
Published: 2007-12-01
Total Pages: 692
ISBN-13: 0226066908
DOWNLOAD EBOOKAt the close of the Second World War, when industrialized nations faced serious trade and financial imbalances, delegates from forty-four countries met in Bretton Woods, New Hampshire, in order to reconstruct the international monetary system. In this volume, three generations of scholars and policy makers, some of whom participated in the 1944 conference, consider how the Bretton Woods System contributed to unprecedented economic stability and rapid growth for 25 years and discuss the problems that plagued the system and led to its eventual collapse in 1971. The contributors explore adjustment, liquidity, and transmission under the System; the way it affected developing countries; and the role of the International Monetary Fund in maintaining a stable rate. The authors examine the reasons for the System's success and eventual collapse, compare it to subsequent monetary regimes, such as the European Monetary System, and address the possibility of a new fixed exchange rate for today's world.
Author: Michael D. Bordo
Publisher: University of Chicago Press
Published: 2013-06-28
Total Pages: 545
ISBN-13: 0226066959
DOWNLOAD EBOOKControlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.
Author: Jane Sneddon Little
Publisher: University Press of the Pacific
Published: 1999
Total Pages: 304
ISBN-13:
DOWNLOAD EBOOKAccording to a recent World Bank study, the Asian crisis led to a significant rise in poverty and sharp declines in middle-class living standards in the countries most affected. Real public spending on health and education fell, with poor households experiencing the largest declines in access to these services. The impact of decreased investment in human capital will have consequences for individuals and whole societies for years to come. Because these external shocks occurred very shortly after these countries had liberalized their capital markets, they have engendered a growing distrust of globalization in many parts of the world. We owe it to the people of the developing countries, as well as to ourselves, to consider how institutional or policy changes could moderate such setbacks in the future. For all these reasons, this conference seemed a good time to pause and consider the implications of recent events, institutional changes, and new research for the evolution of the international monetary system. Representing frontline countries and frontline institutions, many of the conference participants had struggled firsthand with the dilemmas posed by the recent crises. Thus, they brought unique perspectives on the issues and offered thoughtful observations and useful ideas that could improve the workings of the international monetary system. It is our hope that this publication of their views will stimulate further discussion, research and, more than partial implementation.
Author: Alfred E. Eckes
Publisher: University of Texas Press
Published: 2014-07-03
Total Pages: 370
ISBN-13: 0292772238
DOWNLOAD EBOOKDiverted by the dramatic military and political events of July 1944, few Americans realized the significance of an international conference taking place at Bretton Woods, a mountain resort in New Hampshire, far from the battle zones. There United Nations experts were completing plans for a world monetary and financial system that they hoped would create a prosperous, efficient global economy and avert economic tensions that might lead to another world war. Until the dollar crisis of 1971, decisions made at Bretton Woods provided the institutions and rules for international finance. The conference ushered in an era of unprecedented expansion of world trade and prosperity. Based on extensive research in previously unavailable sources, A Search for Solvency relates intriguing and often complicated issues of economic analysis and diplomatic history. It offers a succinct and comprehensive survey of international monetary development from the collapse of the pre–World War I gold standard to the devaluation of the dollar in 1971. In effect, it explains the origins of late twentieth-century global inflation and currency problems. The author details how the ghost of the Great Depression, the failure of monetary reconstruction efforts after World War I, and the memory of the nineteenth-century gold standard guided efforts to construct the Bretton Woods system. This preoccupation with the past, as well as political constraints, produced a monetary system protected against past dangers—fluctuating currencies, controls, and deflation—but dangerously vulnerable to inflationary pressures. The weaknesses of Bretton Woods, a system geared to an era in which economic power was concentrated in the United States, became visible in the 1960s and painfully apparent by the mid-1970s.
Author: Eric Monnet
Publisher: International Monetary Fund
Published: 2019-07-24
Total Pages: 32
ISBN-13: 1498326773
DOWNLOAD EBOOKWhy 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.