Abstract

The main paper for the penultimate session of the seminar was by Barry Eichengreen and Jeffrey A. Frankel, who were asked to look ahead to see how the role of the SDR might be affected by future changes in the international monetary system. How, for example, would the monetary character of the SDR be affected by the establishment of a single currency in Europe? Would the SDR be more likely to fulfill the role originally envisaged for it if the major industrial countries undertook to more firmly stabilize their exchange rates? That paper and the more general issues were discussed by Fabrizio Saccomanni (whose paper was co-authored by Tommaso Padoa-Schioppa), Onno Ruding, and Wendy Dobson.

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