Improving the International Monetary System: Constraints and Possibilities

Morris Goldstein, Donald Mathieson, Tamim Bayoumi, Michael Mussa and Peter Clark

No 1995/001, IMF Occasional Papers from International Monetary Fund

Abstract: This study addresses major policy issues associated with the future of the international monetary system. It focuses on whether there is a need for fundamental reform of this system, defined as systematic and sustained effort on the part of the three major industrial countries (United States, Japan, and Germany) to maintain their exchange rates within agreed ranges. It then discusses less rar-reaching reforms that could strengthen and improve the system.

Keywords: OP; exchange rate; market; country; nominal exchange rate; IMF surveillance; market participant; sterilized exchange market intervention; pound sterling; objectives vis-à-vis; U.S. dollar; Exchange rates; International monetary system; Exchange rate arrangements; Managed exchange rates; International capital markets; Global; Europe; Middle East; Western Hemisphere (search for similar items in EconPapers)
Pages: 44
Date: 1995-01-27
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