The Unending Search For A New Global Monetary And Financial Architecture
After the 2007–2009 economic deluge, the policy and theoretical case for a New Global Monetary and Financial Architecture gained momentum. This article analyzes some key features of the global crisis that severely limited the range of action of modern central banking. Earlier episodes of concerted institutional or implicit collective efforts to "anchor" a global system and the search for a stable international key currency in a cooperative atmosphere have, in general, failed. The incentives to reinvent a new Gold Standard or Bretton Woods are always inversely related to the international business cycle. Questions regarding the heterodox political open economy stance of the new emerging economies during the contemporaneous crisis are also discussed.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 03 (2011)
Issue (Month): 01 ()
|Contact details of provider:|| Web page: http://www.worldscinet.com/medj/medj.shtml|
|Order Information:|| Email: |
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Obstfeld, Maurice & Shambaugh, Jay C & Taylor, Alan M., 2008.
"Financial Stability, the Trilemma, and International Reserves,"
CEPR Discussion Papers
6693, C.E.P.R. Discussion Papers.
- Maurice Obstfeld & Jay C. Shambaugh & Alan M. Taylor, 2010. "Financial Stability, the Trilemma, and International Reserves," American Economic Journal: Macroeconomics, American Economic Association, vol. 2(2), pages 57-94, April.
- Maurice Obstfeld & Jay C. Shambaugh & Alan M. Taylor, 2008. "Financial Stability, the Trilemma, and International Reserves," NBER Working Papers 14217, National Bureau of Economic Research, Inc.
- Douglas W. Diamond & Philip H. Dybvig, 2000.
"Bank runs, deposit insurance, and liquidity,"
Federal Reserve Bank of Minneapolis, issue Win, pages 14-23.
- Barry Eichengreen & Michael D. Bordo, 2002.
"Crises Now and Then: What Lessons from the Last Era of Financial Globalization,"
NBER Working Papers
8716, National Bureau of Economic Research, Inc.
- Barry Eichengreen & Michael D. Bordo, 2003. "Crises now and then: what lessons from the last era of financial globalization?," Chapters, in: Monetary History, Exchange Rates and Financial Markets, chapter 3 Edward Elgar Publishing.
- Maurice Obstfeld & Alan M. Taylor, 2002.
"Globalization and Capital Markets,"
NBER Working Papers
8846, National Bureau of Economic Research, Inc.
- Guillermo A. Calvo, 1998. "Capital Flows and Capital-Market Crises: The Simple Economics of Sudden Stops," Journal of Applied Economics, Universidad del CEMA, vol. 1, pages 35-54, November.
When requesting a correction, please mention this item's handle: RePEc:wsi:medjxx:v:03:y:2011:i:01:p:11-28. 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: (Tai Tone Lim)
If references are entirely missing, you can add them using this form.