IDEAS home Printed from https://ideas.repec.org/a/fip/fedbcp/y1999ijunp1-31n43.html
   My bibliography  Save this article

Rethinking the International Monetary System: an overview

Author

Listed:
  • Jane Sneddon Little
  • Giovanni P. Olivei

Abstract

When the Federal Reserve Bank of Boston chose "Rethinking the International Monetary System" as the topic for its 43rd Economic Conference, it was clear that the worst international financial crisis in decades had caused tremors within the economics profession and the policymaking establishment. The miracle countries of Asia had suffered sharp currency devaluation and deep economic downturns, the turmoil had spilled over into Russia and Latin America, and a severe liquidity crisis had briefly threatened banking systems in the advanced countries. Not surprisingly, then, the events of the 1990s provoked many proposals for reform. But these proposals reflected differing, even contradictory views about the underlying problems and their solutions, and they did not always reveal a systemic approach to reform. ; In hopes of clarifying some of these issues, the Bank asked conference participants to examine key parts of current international arrangements: the eclectic exchange rate system, international capital markets, the international lender of last resort, and policy coordination. We also asked them to consider how these critical components interact. We hoped that adopting a systemic approach would help to narrow the differences among economic policymakers and identify priorities for reform. Our ultimate goal was to define ways to enhance the benefits of global integration, while limiting its costs. This article summarizes the participants' answers to our questions.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Jane Sneddon Little & Giovanni P. Olivei, 1999. "Rethinking the International Monetary System: an overview," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 43(Jun), pages 1-31.
  • Handle: RePEc:fip:fedbcp:y:1999:i:jun:p:1-31:n:43
    as

    Download full text from publisher

    File URL: http://www.bostonfed.org/economic/conf/conf43/1p.pdf
    Download Restriction: no

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Richard N. Cooper & Jane Sneddon Little, 2001. "U.S. monetary policy in an integrating world: 1960 to 2000," New England Economic Review, Federal Reserve Bank of Boston, pages 33-56.
    2. Michael W. Klein & Giovanni Olivei, 1999. "Capital Account Liberalization, Financial Depth and Economic Growth," NBER Working Papers 7384, National Bureau of Economic Research, Inc.

    More about this item

    Keywords

    Monetary policy ; International finance;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedbcp:y:1999:i:jun:p:1-31:n:43. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Catherine Spozio). General contact details of provider: http://edirc.repec.org/data/frbbous.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.