The Latest Macroeconomic Analysis of International Payments

Andrea Carrera () and Alvaro Cencini ()
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Andrea Carrera: Complutense University of Madrid and Complutense Institute for International Studies
Alvaro Cencini: Università della Svizzera italiana

Chapter Chapter 9 in National and International Monetary Payments, 2024, pp 219-249 from Palgrave Macmillan

Abstract: Abstract International economics theories, from the classical to the present ones, are an invaluable source of clues to find the missing pieces required for a full comprehension of international monetary disorders, clearly manifest in today’s world. All of them contribute to the development of the latest macroeconomic analysis of international payments. Dipping into Triffin’s and Rueff’s contributions, this chapter starts with an assessment of the shortcomings of the gold-exchange standard regime adopted following the Bretton Woods agreements. The chapter then deals with the pathology of the present system of international payments, delving into cross-border payments as a cause of inflation, the double charge of external debt servicing and the formation of countries’ sovereign debt. The chapter ends with Schmitt’s proposals for the reform of the international monetary system.

Keywords: Gold-exchange standard; External debt servicing; External debt formation; International clearing and settlement (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pshchp:978-3-031-51737-2_9

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DOI: 10.1007/978-3-031-51737-2_9

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