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The need for international monetary stability: proposals for stabilizing exchange rates

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Author Info

  • Becker, Fernando
  • Fernandez, Pascual
  • Fontela, Emilio

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.

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File URL: http://mpra.ub.uni-muenchen.de/44624/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 44624.

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Date of creation: 1995
Date of revision: 1995
Publication status: Published in Futures 3.27(1995): pp. 273-285
Handle: RePEc:pra:mprapa:44624

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Related research

Keywords: Monetary stability. Exchange rates. Bretton Woods. Moving average cawling system. MAX.;

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