Towards a New Bretton Woods?

Jacques Riboud

Chapter 18 in The Case for a New ECU, 1989, pp 171-175 from Palgrave Macmillan

Abstract: Abstract Beryl Sprinkel, the former United States Treasury Under-Secretary and now Chairman of the President’s Council of Economic Advisers, is a tough man who fought in the Second World War as a gunner in a tank regiment. During his time at the Treasury he used to arrive at his office each morning at eight o’clock and, as he was responsible for monetary affairs, he would instantly sit down at his office computer terminal and press a button on the keyboard. Immediately, the latest exchange rates for the dollar in terms of the Deutschemark, the Yen, the pound, etc. would flash up on the screen. In other finance ministries around the world Sprinkel’s counterparts would set to work straight away on the basis of identical information and decide whether to carry out purchases or sales of their currencies in order to even out exchange market fluctuations. Sprinkel, on the other hand, would most usually do nothing.

Keywords: Exchange Rate; Central Bank; International Currency; Float Exchange Rate; Exchange Rate Equilibrium (search for similar items in EconPapers)
Date: 1989
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-09730-2_18

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349097302

DOI: 10.1007/978-1-349-09730-2_18

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().