A Structural Case for International Cooperation

We recommend a Bretton Woods system along structural lines. A key component of the case is the substitution of the money transmission mechanism by the credit transmission mechanism. We suggest that the real exchange rate be the variable of cooperation between countries that are free to set interest rates to pursue domestic policy objectives.

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Year of publication:	2003
Authors:	Correa, Romar ; Correa, Amelia
Published in:	Journal of Economic Integration. - Department of Economics and Trade. - Vol. 18.2003, p. 406-419
Publisher:	Department of Economics and Trade
Subject:	Bretton woods system \| Money transmission mechanism

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Type of publication:	Article
Classification:	E12 - Keynes; Keynesian; Post-Keynesian ; F41 - Open Economy Macroeconomics ; F42 - International Policy Coordination and Transmission
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009318922