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I Introduction

I Introduction »

Source: Policy Issues in the Evolving International Monetary System

Series: Occasional Papers

Author(s): Mark Taylor , Peter Isard , Morris Goldstein , and Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 1992

ISBN: 9781557752345

Keywords: exchange rate, exchange rates, inflation, monetary fund, monetary union

The purpose of this part of the study is to consider the prospects for achieving greater stability in the international monetary system. In line with a number of other recent studies,...

I Introduction

I Introduction »

Source: Policy Issues in the Evolving International Monetary System

Series: Occasional Papers

Author(s): Mark Taylor , Peter Isard , Morris Goldstein , and Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 1992

ISBN: 9781557752345

Keywords: exchange rate, exchange rates, inflation, monetary fund, monetary union

Monetary, or exchange rate unions can be defined as areas within which exchange rates bear a permanently fixed relationship to each other. Without capital controls, only one monetary policy can...

II Developments in World Economy and Implications for the International Monetary System

II Developments in World Economy and Implications for the International Monetary System »

Source: Policy Issues in the Evolving International Monetary System

Series: Occasional Papers

Author(s): Mark Taylor , Peter Isard , Morris Goldstein , and Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 1992

ISBN: 9781557752345

Keywords: exchange rate, exchange rates, inflation, monetary fund, monetary union

Changes in Relative Economic Size One of the most important developments in the world economy over the past 30 years has been the trend toward greater symmetry in economic size among...

II Monetary Policy Issues

II Monetary Policy Issues »

Source: Policy Issues in the Evolving International Monetary System

Series: Occasional Papers

Author(s): Mark Taylor , Peter Isard , Morris Goldstein , and Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 1992

ISBN: 9781557752345

Keywords: exchange rate, exchange rates, inflation, monetary fund, monetary union

Facilitating Transactions and Ensuring Price Stability A key role of money is to facilitate transactions and thereby to increase economic efficiency relative to a situation of barter...

III Problems with Present System

III Problems with Present System »

Source: Policy Issues in the Evolving International Monetary System

Series: Occasional Papers

Author(s): Mark Taylor , Peter Isard , Morris Goldstein , and Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 1992

ISBN: 9781557752345

Keywords: exchange rate, exchange rates, inflation, monetary fund, monetary union

Against the background shaped by developments in the world economy, some of the main problem areas of the international monetary system are now considered under four headings: (1) undisciplined...

III Traditional Criteria for Successful Currency Unions

III Traditional Criteria for Successful Currency Unions »

Source: Policy Issues in the Evolving International Monetary System

Series: Occasional Papers

Author(s): Mark Taylor , Peter Isard , Morris Goldstein , and Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 1992

ISBN: 9781557752345

Keywords: exchange rate, exchange rates, inflation, monetary fund, monetary union

Factor Mobility The superiority of monetary exchange over barter is enhanced by widening the domain over which any single currency can be utilized. Nevertheless, as Mundell (1961) po...

IV Fiscal Policy Within Currency Areas

IV Fiscal Policy Within Currency Areas »

Source: Policy Issues in the Evolving International Monetary System

Series: Occasional Papers

Author(s): Mark Taylor , Peter Isard , Morris Goldstein , and Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 1992

ISBN: 9781557752345

Keywords: exchange rate, exchange rates, inflation, monetary fund, monetary union

Though a currency union makes the monetary policy independence of member countries impossible, it is not obvious that the same is true of fiscal policies. 37 If a wel...

IV What Can Be Done?

IV What Can Be Done? »

Source: Policy Issues in the Evolving International Monetary System

Series: Occasional Papers

Author(s): Mark Taylor , Peter Isard , Morris Goldstein , and Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 1992

ISBN: 9781557752345

Keywords: exchange rate, exchange rates, inflation, monetary fund, monetary union

The previous section identified four problem areas in the international monetary system: (1) undisciplined or ineffective national policies, (2) excessive swings in real exchange rates, (3) limi...

Part I: Mechanisms for Promoting Global Monetary Stability

Part I: Mechanisms for Promoting Global Monetary Stability »

Source: Policy Issues in the Evolving International Monetary System

Series: Occasional Papers

Author(s): Mark Taylor , Peter Isard , Morris Goldstein , and Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 1992

ISBN: 9781557752345

Keywords: exchange rate, exchange rates, inflation, monetary fund, monetary union

References Aghevli Bijan B., and others,...

Part II Issues in the Operation of Monetary Unions and Common Currency Areas

Part II Issues in the Operation of Monetary Unions and Common Currency Areas »

Source: Policy Issues in the Evolving International Monetary System

Series: Occasional Papers

Author(s): Mark Taylor , Peter Isard , Morris Goldstein , and Paul Masson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 1992

ISBN: 9781557752345

Keywords: exchange rate, exchange rates, inflation, monetary fund, monetary union

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