Whither Macro-economic Policy Co-ordination?

John Williamson

Chapter 2 in Evolution of the International and Regional Monetary Systems, 1991, pp 10-25 from Palgrave Macmillan

Abstract: Abstract One of the major professional accomplishments of Robert Triffin was his success in propagating the concept of a managed reserve system as an instrument for exerting a stabilising influence on the behaviour of the global economy. That vision inspired the work of the Committee of Twenty. As we all know, and at least some of us regret, the C-20 did not succeed in reaching agreement on a reformed international monetary system. Instead, the regime degenerated into what could only be described as a non-system, which reached its extreme form with the aggressive unilateralism practised by the first Reagan administration.

Keywords: Exchange Rate; Interest Rate; Monetary Policy; Current Account; Fiscal Policy (search for similar items in EconPapers)
Date: 1991
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DOI: 10.1007/978-1-349-11061-2_2

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