A Structural Case for International Cooperation

Romar Correa and Amelia Correa
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Amelia Correa: University of Mumbai, Postal: Departmant of Economics University of Mumbai, Vidyanagari Munbai 400 098 India

Journal of Economic Integration, 2003, vol. 18, 406-419

Abstract:

We recommend a Bretton Woods system along structural lines. A key component of the case is the substitution of the money transmission mechanism by the credit transmission mechanism. We suggest that the real exchange rate be the variable of cooperation between countries that are free to set interest rates to pursue domestic policy objectives.

Keywords: Bretton woods system; Money transmission mechanism (search for similar items in EconPapers)
JEL-codes: E12 F41 F42 (search for similar items in EconPapers)
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:ris:integr:0241

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