This book addresses the growing debate over proposals for international monetary reform and the tentative attempts, for example at the Louvre and Plaza accords, to achieve greater coordination of macroeconomic policies. The first section draws lessons from the experience of the interwar Gold Standard, the Bretton Woods system, and the EMS. Four papers examine theoretical issues underlying the design of coordinated economic policies. Contributors explore the use of commodity prices as indicators of inflationary pressures and analyze exchange rate target bands using concepts first developed in the financial literature. The final chapters present empirical evaluations of the performance of alternative exchange rate regimes, adding to the existing literature on the design of gains from coordinated economic policies. The contributors, drawn from academic and policy circles, include leading advocates of exchange rate target zones and 'disciplined floating'. This book is of interest to students of international macroeconomics and policy coordination and to all those who have followed the debate on the evolution of the international monetary system.
- ISBN10 0124970605
- ISBN13 9780124970601
- Publish Date 28 November 1997 (first published 14 November 1991)
- Publish Status Out of Print
- Out of Print 18 July 2000
- Publish Country US
- Publisher Elsevier Science Publishing Co Inc
- Imprint Academic Press Inc
- Format Hardcover
- Pages 352
- Language English