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Policy Issues in the Evolving International Monetary System

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  • Mark P. Taylor
  • Peter Isard
  • Morris Goldstein
  • Paul R Masson

Abstract

How can international monetary stability be promoted? This study looks at ways to bolster economic policies and coordination among the industrial countries serving as nominal anchors for the world economy. It also assesses the operation of monetary unions and common currency areas. The authors conclude that problems with the world monetary system reflect weaknesses outside the exchange rate arena, and that exchange rate commitements must be tailored to individual country characteristics.

Suggested Citation

  • Mark P. Taylor & Peter Isard & Morris Goldstein & Paul R Masson, 1992. "Policy Issues in the Evolving International Monetary System," IMF Occasional Papers 96, International Monetary Fund.
  • Handle: RePEc:imf:imfocp:96
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    Cited by:

    1. Mussa, Michael, 1995. "The evolving international monetary system and prospects for monetary reform," Journal of Policy Modeling, Elsevier, vol. 17(5), pages 493-512, October.
    2. George S. Tavlas, 1993. "The ‘New’ Theory of Optimum Currency Areas," The World Economy, Wiley Blackwell, vol. 16(6), pages 663-685, November.
    3. Østrup, Finn, 2005. "Fiscal Policy and Welfare under Different Exchange Rate Regimes," Working Papers 2005-1, Copenhagen Business School, Department of Finance.
    4. Benjamin J. Cohen, 1993. "Beyond Emu: The Problem Of Sustainability," Economics and Politics, Wiley Blackwell, vol. 5(2), pages 187-203, July.

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