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The Behaviour of Exchange Rates

J. C. R. Dow and I. D. Saville

in A Critique of Monetary Policy: Theory and British Experience

Published in print:
1990
Published Online:
November 2003
ISBN:
9780198283195
eISBN:
9780191596186
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198283199.003.0005
Subject:
Economics and Finance, Macro- and Monetary Economics

The focus shifts from a closed economic environment to the effects of exogenous factors such as overseas trading, with exchange rates being key. To this end, the chapter is split into two main ... More


Resetting the International Monetary (Non)System

José Antonio Ocampo

Published in print:
2017
Published Online:
November 2017
ISBN:
9780198718116
eISBN:
9780191787478
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198718116.001.0001
Subject:
Economics and Finance, Macro- and Monetary Economics, Development, Growth, and Environmental

This book provides an analysis of the global monetary system and the necessary reforms that it should undergo to play an active role in the twenty-first century. As its title indicates, its basic ... More


Special Drawing Rights (SDRs): The First International Money

Christopher Wilkie

Published in print:
2011
Published Online:
January 2012
ISBN:
9780199606467
eISBN:
9780191731648
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199606467.001.0001
Subject:
Economics and Finance, Macro- and Monetary Economics

Following the Rio Agreement in 1967, the birth of the Special Drawing Right (SDR) was widely heralded as the first step towards a world international money. The SDR's intended purpose, though, was ... More


Introduction

Christopher M.D. Wilkie

in Special Drawing Rights (SDRs): The First International Money

Published in print:
2011
Published Online:
January 2012
ISBN:
9780199606467
eISBN:
9780191731648
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199606467.003.0001
Subject:
Economics and Finance, Macro- and Monetary Economics

Special Drawing Rights (SDRs) were announced to the world at the International Monetary Fund's annual meeting in Rio de Janeiro in 1967. Only a few years later, the IMF incorporated in its Articles ... More


The genesis of SDRs and the limitations of the Rio Agreement

Christopher M.D. Wilkie

in Special Drawing Rights (SDRs): The First International Money

Published in print:
2011
Published Online:
January 2012
ISBN:
9780199606467
eISBN:
9780191731648
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199606467.003.0002
Subject:
Economics and Finance, Macro- and Monetary Economics

Since the 1970s, conventional wisdom in both economic and international relations/political economy literature is that the clumsily‐named Special Drawing Rights were a compromise that doomed their ... More


The influence of US policy on the SDR under post‐Bretton Woods arrangements

Christopher M.D. Wilkie

in Special Drawing Rights (SDRs): The First International Money

Published in print:
2011
Published Online:
January 2012
ISBN:
9780199606467
eISBN:
9780191731648
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199606467.003.0004
Subject:
Economics and Finance, Macro- and Monetary Economics

SDRs could not prop up a Bretton Woods system without US support. And it is true that the SDR was no longer a priority for the US as post‐Bretton Woods arrangements consolidated themselves. ... More


Cognitive Dissonance: Postwar Economic Development Strategies and Bretton Woods International Financial Stability

Jan Kregel

in Macroeconomics and Development: Roberto Frenkel and the Economics of Latin America

Published in print:
2016
Published Online:
September 2016
ISBN:
9780231175081
eISBN:
9780231541213
Item type:
chapter
Publisher:
Columbia University Press
DOI:
10.7312/columbia/9780231175081.003.0017
Subject:
Economics and Finance, Macro- and Monetary Economics

the chapter offers a deep critique of the way the Bretton Woods framework addressed the simultaneous objectives of pursuing international financial stability and fostering growth in developing ... More


Good Years: The Preparation

John Kenneth Galbraith and James K. Galbraith

in Money: Whence It Came, Where It Went

Published in print:
2017
Published Online:
May 2018
ISBN:
9780691171661
eISBN:
9781400889082
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691171661.003.0018
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter examines the fiscal and monetary achievements of the period between 1948 and 1967. These two decades were without panic, crisis, depression or more than minor recession. It was during ... More


Strained Relations: US Foreign-Exchange Operations and Monetary Policy in the Twentieth Century

Michael D. Bordo, Owen F. Humpage, and Anna J. Schwartz

Published in print:
2015
Published Online:
September 2015
ISBN:
9780226051482
eISBN:
9780226051512
Item type:
book
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226051512.001.0001
Subject:
Economics and Finance, Macro- and Monetary Economics

Using the fundamental trilemma of international finance as a broad organizing principle, this book discusses the evolution of monetary and exchange-rate policies over the twentieth century. We start ... More


Leaves

Whitney Anne Trettien

Bill Maurer and Lana Swartz (eds)

in Paid: Tales of Dongles, Checks, and Other Money Stuff

Published in print:
2017
Published Online:
January 2018
ISBN:
9780262035750
eISBN:
9780262338332
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262035750.003.0013
Subject:
Economics and Finance, Macro- and Monetary Economics

In the early 18th century, the American colonials were awash with both paper currency and its twin: counterfeit bills. Benjamin Franklin became a proponent of using leafs prints in currency as an ... More


A Brief History of the International Monetary System since Bretton Woods

José Antonio Ocampo

in Resetting the International Monetary (Non)System

Published in print:
2017
Published Online:
November 2017
ISBN:
9780198718116
eISBN:
9780191787478
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198718116.003.0001
Subject:
Economics and Finance, Macro- and Monetary Economics, Development, Growth, and Environmental

The 1944 Bretton Woods Conference, which created the International Monetary Fund and the International Bank for Reconstruction and Development, was a major landmark in international cooperation. ... More


The World Bank and Development

in The Political Economy of the World Bank: The Early Years

Published in print:
2009
Published Online:
June 2013
ISBN:
9780804760652
eISBN:
9780804770798
Item type:
chapter
Publisher:
Stanford University Press
DOI:
10.11126/stanford/9780804760652.003.0001
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter examines the early years of the International Bank for Reconstruction and Development (IBRD), commonly known as the World Bank, in the 1940s and the 1950s. It explains that the IBRD was ... More


US Intervention during the Bretton Woods Era, 1962–1973

Michael D. Bordo, Owen F. Humpage, and Anna J. Schwartz

in Strained Relations: US Foreign-Exchange Operations and Monetary Policy in the Twentieth Century

Published in print:
2015
Published Online:
September 2015
ISBN:
9780226051482
eISBN:
9780226051512
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226051512.003.0004
Subject:
Economics and Finance, Macro- and Monetary Economics

In the early 1960s, as Bretton Woods became fully functional, outstanding foreign dollar claims began to exceed the US gold stock, implying that the United States could not convert all dollar claims ... More


Exchange Rates and Nominal Interest Rates

Harold L. Cole

in Finance and Financial Intermediation: A Modern Treatment of Money, Credit, and Banking

Published in print:
2019
Published Online:
May 2019
ISBN:
9780190941697
eISBN:
9780190949068
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780190941697.003.0010
Subject:
Economics and Finance, Macro- and Monetary Economics, Financial Economics

This chapter discusses exchanges and the different types of exchange rate regimes. It describes how exchange rates impact on real exchange rates, and how movements in the real exchange rate are ... More


Managing Flexibility: 1971–90

Shinji Takagi

in Conquering the Fear of Freedom: Japanese Exchange Rate Policy since 1945

Published in print:
2015
Published Online:
May 2015
ISBN:
9780198714651
eISBN:
9780191782893
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198714651.003.0004
Subject:
Economics and Finance, Financial Economics, Macro- and Monetary Economics

Chapter 4 reviews how Japanese authorities managed the flexible exchange rate for the yen in response to external and domestic developments. In particular, the chapter discusses policy actions taken ... More


Capital Controls: The Emergency Brakes

Louçã Francisco and Ash Michael

in Shadow Networks: Financial Disorder and the System that Caused Crisis

Published in print:
2018
Published Online:
October 2018
ISBN:
9780198828211
eISBN:
9780191866883
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198828211.003.0011
Subject:
Economics and Finance, Macro- and Monetary Economics, Financial Economics

Chapter 10 relates the fall and rise and fall of international capital mobility, a centerpiece of neoliberal policy. Immediately after World War II, the Bretton Woods System established fixed ... More


International Financial Liberalization

John Eatwell and Murray Milgate

in The Fall and Rise of Keynesian Economics

Published in print:
2011
Published Online:
April 2015
ISBN:
9780199777693
eISBN:
9780190261344
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780199777693.003.0007
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter explains the impact of international capital liberalization that is consistent with the deterioration of economic performance in the post-Bretton Woods era. It comprises of hypotheses on ... More


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