This paper describes how the changed conditions in the international monetary system have undermined the role originally envisaged for the SDR. It argues that the concept of a global stock of international liquidity, which was fundamental to the creation of the SDR, is now no longer relevant....

This paper describes how the changed conditions in the international monetary system have undermined the role originally envisaged for the SDR. It argues that the concept of a global stock of international liquidity, which was fundamental to the creation of the SDR, is now no longer relevant....

This paper reviews the development over the past fifty years in the IMF of research on, and policy attitudes toward, exchange rate matters. Three successive phases are noted. In the first ten to fifteen years, within the confines of the par value system, research was mainly focused on achieving...

The new provisions on the valuation of the special drawing right (SDR) in the Second Amendment to the Articles of Agreement; the new basket introduced on July 1, 1978; the increases in the SDR interest rate; and the introduction by the Bank for International Settlements and some commercial banks of...

Le présent article a été préparé pour une réunion de la Société économique des Pays Bas du 9 Décembre 1961. Il est fondé sur la liste des problèmes à étudier (reproduite page 149) qui établit une distinction très nette entre un certain nombre d'objectifs déterminés de la...