Large dollar reserves in Asian EMEs accompany large US fiscal and current account deficits. Analysis of strategic sales by Asian EMEs suggests that an attack on the dollar is not certain but is possible. A unique equilibrium where Asian EMEs sell their reserves does not exist but there are...

The endogeneity of exchange-rate regimes / Barry Eichengreen -- Exchange-rate behavior under alternative exchange-rate arrangements / Mark P. Taylor -- Panel : one money for how many? / Richard N. Cooper, Ronald I. McKinnon, Michael Mussa -- Exchange rates, prices, and external adjustment in the...

Cover -- Half Title -- Title -- Copyright -- Contents -- List of Boxes, Figures, and Tables -- Acknowledgments -- Introduction -- I. The Role of the International Monetary Fund -- 1. The Essence of Bretton Woods: Monetary Cooperation -- 2. The International Monetary Issues of the Bretton Woods...