Becker, Fernando and Fernandez, Pascual and Fontela, Emilio (1995): The need for international monetary stability: proposals for stabilizing exchange rates. Published in: Futures , Vol. 27, No. 3 (April 1995): pp. 273-285.
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Abstract
With the end of the Cold War, the international economy is moving rapidly towards a framework of market economies. Parallels have been drawn with the end of World War II and there are growing calls for stabilization of exchange rates to promote economic integration. Stability is needed to allow for better long-term investment decisions by industries. However, flexibility is also needed to avoid permanent disequilibria. Moreover, in a framework of freedom of capital movements, speculative behavior must be discouraged. This article considers the lessons learned since Bretton Woods and new proposals for managing international exchange rates.
Item Type: | MPRA Paper |
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Original Title: | The need for international monetary stability: proposals for stabilizing exchange rates |
Language: | English |
Keywords: | Monetary stability. Exchange rates. Bretton Woods. Moving average cawling system. MAX. |
Subjects: | E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E52 - Monetary Policy F - International Economics > F3 - International Finance > F31 - Foreign Exchange F - International Economics > F6 - Economic Impacts of Globalization > F65 - Finance G - Financial Economics > G1 - General Financial Markets > G18 - Government Policy and Regulation |
Item ID: | 44624 |
Depositing User: | Pascual Fernandez |
Date Deposited: | 27 Feb 2013 13:02 |
Last Modified: | 27 Sep 2019 13:53 |
References: | The Group of Lisbon (Cambridge MA, MIT Press, forthcoming, 1995) J. Williamson ed. “Exchange Rate Rules” (London, Macmillan, 1981) F. Modigliani and H. Askari “The reform of international payment systems”. Princeton, Essay on International Finance, 89. 1971. E. Gordo and P. L’Hotellerie “La competitividad de las manufacturas españolas frente a la CE y la OCDE”. Papeles de Economía Española, 56, 1993. A. Buisan and E. Gordo “Recuperación económica, competitividad y saldo exterior”. Papeles de Economía Española, 56, 1993. |
URI: | https://mpra.ub.uni-muenchen.de/id/eprint/44624 |