Monetary theory not only provides the tools to analyse monetary arrangements, it also shapes them in an essential way. The selected papers gathered together in this book deal with a variety of topics concerning both aspects of this twofold relationship. A number of controversial issues regarding...

The Bretton Woods agreements set up the post-war monetary order on the basis of fixed exchange rates and autonomous national economic policy. Changes in parity were allowed in the case of fundamental disequilibrium, but this concept was not defined, promoting a lengthy but sterile debate. This...

The Bretton Woods agreements set up the post‐war monetary order on the basis of fixed exchange rates and autonomous national economic policy. Changes in parity were allowed in the case of fundamental disequilibrium, but this concept was not defined, promoting a lengthy but sterile debate. This...