International Monetary System Developments and Prospects

This paper addresses several fundamental issues raised by recent developments in the world economy and considers their implications for the design and functioning of the international monetary system. We do not make any proposals. The four issues examined in the paper are: (1) Can the exchange rate...

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Bibliographic Details
Corporate Author: International Monetary Fund
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1988
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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300 |a 26 pages 
651 4 |a Germany 
653 |a International finance 
653 |a Government and the Monetary System 
653 |a Payment Systems 
653 |a Exchange rate arrangements 
653 |a Regimes 
653 |a Monetary economics 
653 |a Fiscal Policy 
653 |a Currency 
653 |a Fiscal policy 
653 |a Money 
653 |a Foreign Exchange 
653 |a Standards 
653 |a Monetary Systems 
653 |a Macroeconomics 
653 |a Real exchange rates 
653 |a Exchange rates 
653 |a Public Finance 
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653 |a Foreign exchange 
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520 |a This paper addresses several fundamental issues raised by recent developments in the world economy and considers their implications for the design and functioning of the international monetary system. We do not make any proposals. The four issues examined in the paper are: (1) Can the exchange rate regime do much to discipline fiscal policy?; (2) What are the extent and costs of reduced monetary independence under greater fixity of exchange rates?; (3) How can the equilibrium exchange rate best be determined?; and (4) Does a well functioning international monetary system require a clearly defined set of rules, an acknowledged leader, and an explicit anchor?