×

Uh-oh, it looks like your Internet Explorer is out of date.

For a better shopping experience, please upgrade now.

The Exchange Rate System and the IMF: A Modest Agenda
     

The Exchange Rate System and the IMF: A Modest Agenda

by Morris Goldstein, Institute for International Economics
 

Global currency markets have remained unsettled. The dollar hit record lows against both the yen and the mark in 1995. The Mexican crisis led to a free fall of the peso. Renewed tensions in the European Monetary System required devaluations in Spain and Portugal. It is thus fortuitous that the world's major countries, starting with the G-7 summit in Italy in June

Overview

Global currency markets have remained unsettled. The dollar hit record lows against both the yen and the mark in 1995. The Mexican crisis led to a free fall of the peso. Renewed tensions in the European Monetary System required devaluations in Spain and Portugal. It is thus fortuitous that the world's major countries, starting with the G-7 summit in Italy in June 1994, have agreed to reexamine the world monetary system and the role of its chief institutional custodian the International Monetary Fund. Yet there is little agreement on what should be done. Sweeping change in the form of explicit, binding exchange rate targets for the United States, Japan, and Europe does not seem to be in the cards. More limited reforms might gain more acceptance. But what should be the nature of those reforms? Would they be worth the effort? This study sets out a modest agenda for managing the exchange rate system, improving the system's early warning capabilities, and strengthening the IMF s oversight responsibilities. It could help improve functioning of the world economy and global financial stability.

Product Details

ISBN-13:
9780881322194
Publisher:
Peterson Institute for International Economics
Publication date:
07/28/1995
Series:
Policy Analysis in International Economics Series
Pages:
64
Product dimensions:
6.02(w) x 9.03(h) x 0.26(d)
Age Range:
18 Years

Meet the Author

Morris Goldstein, nonresident senior fellow, has held several senior staff positions at the International Monetary Fund (1970–94), including Deputy Director of its Research Department (1987–94). From 1994 to 2010, he held the Dennis Weatherstone Senior Fellow position at the Peterson Institute. He has written extensively on international economic policy and on international capital markets.

Customer Reviews

Average Review:

Post to your social network

     

Most Helpful Customer Reviews

See all customer reviews