IDEAS home Printed from https://ideas.repec.org/p/rut/rutres/199420.html
   My bibliography  Save this paper

An Overplayed Hand: France and the Bretton Woods International Monetary System

Author

Listed:
  • Eugene N. White

    () (Rutgers University and NBER)

  • Michael D. Bordo

    () (Rutgers University)

  • Dominique Simard

    () (Rutgers University)

Abstract

We reinterpret the commonly held view in the U.S. that France, by following a policy from 1965 to 1968 of deliberately converting their dollar holdings into gold helped perpetuate the collapse of the Bretton Woods International Monetary System. We argue that French international monetary policy under Charles de Gaulle was consistent with strategies developed in the interwar period and the French Plan of 1943. France used proposals to return to an orthodox gold standard as well as conversions of its dollar reserves into gold as tactical threats to induce the United States to initiate the reform of the international monetary system towards a more symmetrical and co-operative gold-exchange standard regime.

Suggested Citation

  • Eugene N. White & Michael D. Bordo & Dominique Simard, 1996. "An Overplayed Hand: France and the Bretton Woods International Monetary System," Departmental Working Papers 199420, Rutgers University, Department of Economics.
  • Handle: RePEc:rut:rutres:199420
    as

    Download full text from publisher

    File URL: http://www.sas.rutgers.edu/virtual/snde/wp/1994-20.pdf
    Download Restriction: no

    References listed on IDEAS

    as
    1. Kathryn M.E. Dominguez, 1993. "The Role of International Organizations in the Bretton Woods System," NBER Chapters,in: A Retrospective on the Bretton Woods System: Lessons for International Monetary Reform, pages 357-404 National Bureau of Economic Research, Inc.
    2. Matthew B. Canzoneri & Dale W. Henderson, 1991. "Monetary Policy in Interdependent Economies: A Game-Theoretic Approach," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262031787, October.
    Full references (including those not matched with items on IDEAS)

    Citations

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


    Cited by:

    1. Michael Bordo, 2014. "Tales from the Bretton Woods," Open Economies Review, Springer, vol. 25(5), pages 981-991, November.

    More about this item

    Keywords

    Bretton Woods; France; international monetary system;

    JEL classification:

    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

    Lists

    This item is featured on the following reading lists or Wikipedia pages:
    1. Diskussion:Bretton-Woods-System in Wikipedia German ne '')

    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:rut:rutres:199420. 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: (). General contact details of provider: http://edirc.repec.org/data/derutus.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.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with 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.