coexist along side national currencies and for the establishment of a new international clearing union (NICU). These … principles remain timely because the fundamental causes of the instability of the international monetary system are as valid … today as they were in the early Forties. The new international money would be created against domestic earning assets of the …

variety of transition strategies. Whether a country with a currency convertible into specie operated a gold, silver or … development, as proxied by the level of per capita incomes, and possession of a convertible currency.Most countries went onto the …

This paper analyses the architecture of the international monetary system which preceded the international gold …, substitutability of money market instruments, choice of the correct monetary standard reference, and currency liquidity are tested … point to a trend towards increasing multipolarism in the international monetary system before 1870. …

currency and adopted a timetable for decisions and actions that must be taken before and after the 1999 deadline. Nevertheless …

rate stability and the volume of international capital flows. Capital controls, which were considerably more prevalent …

In this paper we speculate about the evolution of the international monetary system in the last two-thirds of the … established. Instead, an unreformed gold-exchange standard of pegged exchange rates and unlimited international capital mobility … 1971 in our counterfactual. We construct a model of the international monetary system from 1928–71 and simulate its …

This paper examines the international monetary system between the Wars. It confirms the generality of several widely … the `rules of the game'; inadequate international economic leadership by the United States; inadequate cooperation among … exchange. It concludes by assessing the role of the international monetary system in the Great Depression. …

the classical gold standard. The international gold-based fixed exchange rate regime that surfaced during the 1870s has … sufficiently robust to closer scrutiny. We build a model of the pre-1870 international monetary system which allows us to formally …