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The international monetary system : where are we and where do we need to go?

Mohan, Rakesh; Patra, Michael Debabrata; Kapur, Muneesh - 2013

Persistent link: https://www.econbiz.de/10010389956

Do old habits die hard? : central banks and the Bretton Woods gold puzzle

Monnet, Eric; Puy, Damien - 2019

Why did monetary authorities hold large gold reserves under Bretton Woods (1944-1971) when only the US had to? We argue that gold holdings were driven by institutional memory and persistent habits of central bankers. Countries continued to back currency in circulation with gold reserves,...

Persistent link: https://www.econbiz.de/10012102163

The Use of Foreign Exchange Swaps by Central Banks : A Survey

Hooyman, Catharina J. - 1993

The paper discussed the use of foreign exchange swaps by central banks. Such use has aimed at affecting domestic liquidity, managing foreign exchange reserves, and stimulating domestic financial markets. It discusses these different uses and present evidence for a selected group of countries....

Persistent link: https://www.econbiz.de/10014398232

The International Monetary System : Where Are We and Where Do We Need to Go?

Mohan, Rakesh - 2013

The North Atlantic financial crisis of 2008-2009 has spurred renewed interest in reforming the international monetary system, which has been malfunctioning in many aspects. Large and volatile capital flows have promoted greater volatility in financial markets, leading to recurrent financial...

Persistent link: https://www.econbiz.de/10014394532

Destabilizing the global monetary system : Germany's adoption of the gold standard in the early 1870s

Wiegand, Johannes - 2019

bimetallism, id est, a near-universal fixed exchange rate system in which (mostly) France stabilized the exchange value between … France, which would have severed the link between gold and silver currencies. Without reform, Germany would thus have risked … accommodation, however. Victory in the Franco-Prussian war of 1870/71 allowed Germany to force accommodation, but only until France …

Persistent link: https://www.econbiz.de/10012009318

France and the Breakdown of the Bretton Woods International Monetary System

Simard, Dominique - 1994

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and...

Persistent link: https://www.econbiz.de/10014395979

U.S. dollar currency premium in corporate bonds

Caramichael, John; Gopinath, Gita; Liao, Gordon Y. - 2021

We isolate a U.S. dollar currency premium by comparing corporate bonds issued in the dollar and the euro by firms o utside t he U .S. a nd e uro a rea. We make s everal empirical observations that dissect the perceived advantage of borrowing in the dollar. First, while the dollar dominates...

Persistent link: https://www.econbiz.de/10012605639

Lessons for monetary policy : what should the consensus be?

Issing, Otmar - 2011

Persistent link: https://www.econbiz.de/10009486309

Lessons for Monetary Policy : What Should the Consensus Be?

Issing, Otmar - 2011

This paper outlines important lessons for monetary policy. In particular, the role of inflation targeting, which was much acclaimed prior to the financial crisis and since then has not lost much of its endorsement, is critically reviewed. Ignoring the relation between monetary policy and asset...

Persistent link: https://www.econbiz.de/10014401288

The Fiscal Abuse of Central Banks

Fry, Maxwell J. - 1993

This paper reviews the fiscal activities that governments in a sample of 26 developing countries have obliged their central banks to undertake. In the main, these activities fall under five categories: (1) collecting seigniorage; (2) imposing financial restriction; (3) implementing selective...

Persistent link: https://www.econbiz.de/10014396498

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