Paul Einzig and the International Monetary Regulations

Dominique Torre ()

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Abstract: Paul Einzig was born in 1897 in Brasov and came to London in 1919. From 1920, he began to write articles for scientific reviews, especially The Economic Journal, and became a regular contributor to The Financial News, The Financial Times and The Banker. Up to the time of his death in 1973, he had written many books, on diverse subjects but mostly related to monetary analysis and international finance. This paper discusses one of the most interesting topics in Einzig's monetary writings: what in practice are the respective properties of different possible external exchange regimes? Einzig offers a life's work of historical and analytical arguments to the reader interested in this question. He observes and comments regularly and in detail on the crises in and failures of different monetary arrangements. These observations and analyses are still useful at a time when, after many years of trust in the corner solutions (free flotation and monetary unions) the international community is finding it necessary to elaborate regulations for the Eurozone policy-mix and to control excessive instability in international capital flows.

Keywords: Paul Einzig; Gold Exchange Standard; Free Flotation; Romania; Etalon de change or; Changes flexibles; Roumanie (search for similar items in EconPapers)
Date: 1993
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Published in National Bank of Romaniap. Monetary Policies and Banking Institutions in South-Eastern Europe between National Objectives and European Patterns - a Historical and Comparative Perspective, Publishing House Oscar Print, pp. 131-150, 1993, 978-973-668-346-6

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00856479

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