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Journal Article
Rethinking the International Monetary System: an overview
When the Federal Reserve Bank of Boston chose "Rethinking the International Monetary System" as the topic for its 43rd Economic Conference, it was clear that the worst international financial crisis in decades had caused tremors within the economics profession and the policymaking establishment. The miracle countries of Asia had suffered sharp currency devaluation and deep economic downturns, the turmoil had spilled over into Russia and Latin America, and a severe liquidity crisis had briefly threatened banking systems in the advanced countries. Not surprisingly, then, the events of the ...
Conference Paper
Reconsidering the international monetary system.
Conference Paper
View from the International Monetary Fund
Journal Article
The international monetary system--retrospect and prospect
During Hayes' tenure as president, the dollar-centered Bretton Woods system of fixed exchange rates matured, then collapsed, prompting a transition to floating exchange rates. In this address, Hayes discusses the development of international cooperation in foreign exchange market intervention and the prospects for reform of the international monetary system. He recommends that countries work together to ensure exchange rate stability, orderly balance-of-payments adjustment, and the financing of imbalances resulting from the first energy crisis.
Conference Paper
Proposals and IMF actions to reduce the frequency of crises
Conference Paper
International lender of last resort? what are the alternatives?
Journal Article
The International Monetary Fund 50 years after Bretton Woods
In July 1944 at Bretton Woods, New Hampshire, delegates from 44 nations agreed upon an international monetary system to be established following World War II. At the heart of the system was the International Monetary Fund, which was to foster economic prosperity by promoting international monetary cooperation, orderly exchange-rate arrangements, restriction-free multilateral payments, and efficient balance-ofpayments adjustment. ; This article surveys the functioning of the IMF, focusing on recent experience. The article discusses the means and methods the IMF has employed to achieve its ...