Monetary Theory And Bretton Woods

Author : Filippo Cesarano
Publisher : Cambridge University Press
Page : 5 pages
File Size : 40,8 Mb
Release : 2006-09-04
Category : Business & Economics
ISBN : 9781139459174

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Monetary Theory and Bretton Woods by Filippo Cesarano Pdf

Over the twentieth century monetary theory played a crucial role in the evolution of the international monetary system. The severe shocks and monetary gyrations of the interwar years interacted with theoretical developments that superseded the rigid rules of commodity standards and led to the full-fledged conception of monetary policy. The definitive demise of the gold standard then paved the way for monetary reconstruction. Monetary theory was a decisive factor in the design of the reform proposals, in the Bretton Woods negotiations, and in forging the new monetary order. The Bretton Woods system - successful but nevertheless short-lived - suffered from latent inconsistencies, both analytical and institutional, which fatally undermined the foundations of the postwar monetary architecture and brought about the epochal transition from commodity money to fiat money.

Author : Heinz-Peter Spahn
Publisher : Springer Science & Business Media
Page : 242 pages
File Size : 45,5 Mb
Release : 2001-02-26
Category : Business & Economics
ISBN : 3540416056

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From Gold to Euro by Heinz-Peter Spahn Pdf

This book shows that the use of money transforms a market economy into a payment society where production and employment are subordinated to the logic of asset markets. Monetary policy emerged out of private banking business and was always exposed to the risk of losing credibility and reputation. The stability of key currency systems was based on different policy preferences. A simple game-theoretic macro model explains the working and the downfall of the gold standard, Bretton Woods and the European Monetary System. It is shown that waning willingness to accept foreign leadership in monetary policy affairs propelled the creation of the euro.

Author : Filippo Cesarano
Publisher : Routledge
Page : 256 pages
File Size : 48,9 Mb
Release : 2012-08-06
Category : Business & Economics
ISBN : 9781134098668

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Monetary Theory in Retrospect by Filippo Cesarano Pdf

An objective and perceptive account of the literature of monetary theory, this volume, by a central banker who has studied monetary theory over the last quarter of a century, clearly shows how its inherent complexity is much enriched by the study of its history. In three parts Filippo Cesarano: focuses on the innovative ideas of distinguished economists who anticipated modern theories, elaborating on them along lines that suggest original research programmes examines the impact of expectations on the effectiveness of monetary policy, illustrating how different assumptions within the classical paradigm lead to diverse hypotheses and policy design investigates the role of monetary theory in shaping monetary institutions. Deserving of a wide readership among both academic economists and monetary policy practitioners, this collection of essays is key reading for students and researchers engaged with monetary theory and the history of economics and policy makers seeking to weigh up the assumptions underlying different theories in order to select the models best suited to the problems they face.

Author : John Earl Floyd
Publisher : University of Pennsylvania Press
Page : 270 pages
File Size : 40,8 Mb
Release : 1985
Category : Business & Economics
ISBN : UOM:39015009282248

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World Monetary Equilibrium by John Earl Floyd Pdf

Author : Marcello De Cecco,Jean-Paul Fitoussi
Publisher : Springer
Page : 354 pages
File Size : 48,7 Mb
Release : 1987-03-30
Category : Business & Economics
ISBN : 9781349087815

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Monetary Theory and Economic Institutions by Marcello De Cecco,Jean-Paul Fitoussi Pdf

Author : Kathrin C. Hägele
Publisher : GRIN Verlag
Page : 57 pages
File Size : 52,6 Mb
Release : 2010-08
Category : Business & Economics
ISBN : 9783640634378

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The Bretton Woods System of Fixed Exchange Rates - Theoretical Background and Its Development by Kathrin C. Hägele Pdf

Seminar paper from the year 2006 in the subject Economics - Monetary theory and policy, grade: 1, Pforzheim University, course: International Economics, 37 entries in the bibliography, language: English, abstract: This work is about the international monetary system, which is a called the Bretton Woods System, starting primarily from the end of the Second World War till the the 1970s. First of all the background of the years before the formation of the Bretton Woods System will be disclosed. This is important to evaluate the importance of a reformation of the monetary system. In the chapter "History" you will find further information, first about the Classical Gold Standard before 1914, second about the Gold-Exchange-Standard after the First World War and finally, about the currency confusion in the period from 1931 till the Second World War. In the third chapter of this assignement the Bretton Woods System will be revealed in detail. It starts with the background of the system, the theoretical details like the two proposals for the formation of the system, followed by some important aspects, as well as the main principles. Further points in this chapter are the implementation and the development throughout the years. Last but not least this is followed by a conclusion.

Author : Ronald I. McKinnon
Publisher : Princeton, N.J. : International Finance Section, Princeton University
Page : 44 pages
File Size : 40,7 Mb
Release : 1971
Category : Foreign exchange
ISBN : UOM:39076005832683

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Monetary Theory and Controlled Flexibility in the Foreign Exchanges by Ronald I. McKinnon Pdf

Author : M.L. Burstein
Publisher : Springer
Page : 223 pages
File Size : 52,9 Mb
Release : 1986-01-28
Category : Business & Economics
ISBN : 9781349180707

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Modern Monetary Theory by M.L. Burstein Pdf

Innovations in financial markets and in financial management, together with dramatic innovations in the substance and technique of monetary theory, have made it necessary to restate the theory of money and the theory of monetary policy. In order to provide a new monetary theory, the author treats fully the following material: choice of currency and the theory of convertibility; interest on money; speculation and rational expectations; implications of electronic-transfer settlement procedures for monetary theory, as well as other matters. The theories of Tobin are developed and exposited in detail, as is the work of Friedman.

Author : Giancarlo Gandolfo
Publisher : Springer Science & Business Media
Page : 525 pages
File Size : 50,9 Mb
Release : 2013-03-09
Category : Business & Economics
ISBN : 9783662079799

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International Economics II by Giancarlo Gandolfo Pdf

There is no lack of good international economics textbooks ranging from the elementary to the advanced, so that an additional drop in this ocean calls for an explanation. In the present writer's opinion, there seems still to be room for a textbook which can be used in both undergraduate and graduate courses, and which contains a wide range of topics, including those usually omitted from other textbooks. These are the intentions behind the present book, which is an outcrop from undergraduate and graduate courses in international economics that the author has been holding at the University of Rome since 1974, and from his on going research work in this field. Accordingly the work is organized as two-books in-one by distributing the material between text and appendices. The treatment in the body of this book is directed to undergraduate students and is mainly confined to graphic analysis and to some elementary algebra, but it is assumed that the reader will have a good knowledge of basic microeconomics and macroeconomics (so that the usual review material on production functions, indifference curves, standard Keynesian model, etc. , etc. has been omitted) . Each chapter is followed by an appendix in which the treatment is mainly mathematical, and where (i) the topics explained in the text are treated at a level suitable for advanced undergraduate or first-year graduate students and (ii) generalizations and/or topics not treated in the text (including some of those at the frontiers of research) are formally examined.

Author : John Lloyd Hanson
Publisher : Unknown
Page : 168 pages
File Size : 45,8 Mb
Release : 1966
Category : Money
ISBN : STANFORD:36105041795712

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An Outline of Monetary Theory by John Lloyd Hanson Pdf

Author : John Lloyd Hanson
Publisher : Trans-Atlantic Publications
Page : 356 pages
File Size : 43,5 Mb
Release : 1983
Category : Business & Economics
ISBN : IND:30000113620508

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Monetary Theory and Practice by John Lloyd Hanson Pdf

Author : Hans Visser,Herschel Visser
Publisher : Edward Elgar Pub
Page : 199 pages
File Size : 47,7 Mb
Release : 1993-01-01
Category : Business & Economics
ISBN : 185278847X

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Modern Monetary Theory by Hans Visser,Herschel Visser Pdf

In the aftermath of the debates between Keynesians and monetarists, this book aims to provide a concise overview of the most recent developments in monetary theory. Professor Visser has written an up-to-date survey which discusses major issues such as crowding out, the new classical macroeconomics, the breakdown of the stable money demand function, buffer stocks and currency substitution.

Author : Michael Woodford
Publisher : Princeton University Press
Page : 805 pages
File Size : 44,6 Mb
Release : 2011-12-12
Category : Business & Economics
ISBN : 9781400830169

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Interest and Prices by Michael Woodford Pdf

With the collapse of the Bretton Woods system, any pretense of a connection of the world's currencies to any real commodity has been abandoned. Yet since the 1980s, most central banks have abandoned money-growth targets as practical guidelines for monetary policy as well. How then can pure "fiat" currencies be managed so as to create confidence in the stability of national units of account? Interest and Prices seeks to provide theoretical foundations for a rule-based approach to monetary policy suitable for a world of instant communications and ever more efficient financial markets. In such a world, effective monetary policy requires that central banks construct a conscious and articulate account of what they are doing. Michael Woodford reexamines the foundations of monetary economics, and shows how interest-rate policy can be used to achieve an inflation target in the absence of either commodity backing or control of a monetary aggregate. The book further shows how the tools of modern macroeconomic theory can be used to design an optimal inflation-targeting regime--one that balances stabilization goals with the pursuit of price stability in a way that is grounded in an explicit welfare analysis, and that takes account of the "New Classical" critique of traditional policy evaluation exercises. It thus argues that rule-based policymaking need not mean adherence to a rigid framework unrelated to stabilization objectives for the sake of credibility, while at the same time showing the advantages of rule-based over purely discretionary policymaking.

Author : David Glasner
Publisher : Cambridge University Press
Page : 296 pages
File Size : 40,6 Mb
Release : 1989-08-25
Category : Business & Economics
ISBN : 9780521361750

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Free Banking and Monetary Reform by David Glasner Pdf

This book boldly challenges the conventional view that the state must play a dominant role in the monetary system.

Author : Filippo Cesarano
Publisher : Edward Elgar Publishing
Page : 0 pages
File Size : 41,8 Mb
Release : 2008
Category : Monetary policy
ISBN : 1847205194

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Money and Monetary Systems by Filippo Cesarano Pdf

Monetary theory not only provides the tools to analyse monetary arrangements, it also shapes them in an essential way. The selected papers gathered together in this book deal with a variety of topics concerning both aspects of this twofold relationship. A number of controversial issues regarding the demand for money are empirically investigated and the functioning of a cashless economy is clarified by critically assessing the new monetary economics. Filippo Cesarano shows the important role played by monetary theory in shaping the evolution of monetary arrangements. This principle is illustrated by focusing on several issues relating to both current and future developments of monetary institutions: the optimum quantity of money, the international monetary system and monetary unions. Equilibrium models are viewed as a benchmark against which the actual conditions of the economy must be set. Money and Monetary Systems will be of great interest and value to economists specialising in monetary theory and international monetary economics, postgraduate students in economics and economic historians.