International Currency Regimes, Capital Mobility, and Macroeconomic Policy

James Tobin

No 993, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: The structure of the international monetary system is once again a topic of great interest and controversy -- among economists, business managers, financiers, and government leaders. Many members of all these groups are acutely dissatisfied with the floating exchange rate regime that succeeded the Bretton Woods system two decades ago. Within the European Community, the Exchange Rate Mechanism has re-established a regime of "adjustable pets." After 1992 financial markets and institutions will cover the entire Community. The further step of issuing a common European currency is under serious consideration, and beyond that the more drastic step of replacing national currencies with a single European currency. These measures would still leave exchange rates among Japan, America, and the European Community free to float in currency markets.

Keywords: International monetary system; exchange rate; currency (search for similar items in EconPapers)
JEL-codes: F31 F33 F36 (search for similar items in EconPapers)
Pages: 20 pages
Date: 1991-10
Note: CFP 895.
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Published in Greek Economic Review (Autumn 1993), 15(1): 1-14

Downloads: (external link)
https://cowles.yale.edu/sites/default/files/files/pub/d09/d0993.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found

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:cwl:cwldpp:993

Ordering information: This working paper can be ordered from
Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA
The price is None.

Access Statistics for this paper

More papers in Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University Yale University, Box 208281, New Haven, CT 06520-8281 USA. Contact information at EDIRC.
Bibliographic data for series maintained by Brittany Ladd ().