An Evaluation Of The Operation Of The International Monetary Fund 1946 1966
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| Author | : Mr.Jaromir Benes |
| Publisher | : International Monetary Fund |
| Total Pages | : 71 |
| Release | : 2012-08-01 |
| Genre | : Business & Economics |
| ISBN | : 1475505523 |
At the height of the Great Depression a number of leading U.S. economists advanced a proposal for monetary reform that became known as the Chicago Plan. It envisaged the separation of the monetary and credit functions of the banking system, by requiring 100% reserve backing for deposits. Irving Fisher (1936) claimed the following advantages for this plan: (1) Much better control of a major source of business cycle fluctuations, sudden increases and contractions of bank credit and of the supply of bank-created money. (2) Complete elimination of bank runs. (3) Dramatic reduction of the (net) public debt. (4) Dramatic reduction of private debt, as money creation no longer requires simultaneous debt creation. We study these claims by embedding a comprehensive and carefully calibrated model of the banking system in a DSGE model of the U.S. economy. We find support for all four of Fisher's claims. Furthermore, output gains approach 10 percent, and steady state inflation can drop to zero without posing problems for the conduct of monetary policy.
| Author | : James M. Boughton |
| Publisher | : |
| Total Pages | : 1111 |
| Release | : 2001 |
| Genre | : International finance |
| ISBN | : |
This volume, fourth in a series of periodic histories of the institution, is as much a history of the world economy during 1979-89 as one of the IMF itself. Boughton discusses the IMF's surveillance of the international monetary system in the 1980s; the Fund's role in the international debt crisis of the 1980s, and IMF lending in support of structural adjustment in low-income countries during that period. The volume concludes with a general history of the institution, including the quota system, the SDR, membership, and other institutional matters.
| Author | : Frank Allan Southard |
| Publisher | : |
| Total Pages | : 60 |
| Release | : 1979 |
| Genre | : Business & Economics |
| ISBN | : |
| Author | : Ms.Carmen Reinhart |
| Publisher | : International Monetary Fund |
| Total Pages | : 47 |
| Release | : 2015-01-21 |
| Genre | : Business & Economics |
| ISBN | : 1498338380 |
High public debt often produces the drama of default and restructuring. But debt is also reduced through financial repression, a tax on bondholders and savers via negative or belowmarket real interest rates. After WWII, capital controls and regulatory restrictions created a captive audience for government debt, limiting tax-base erosion. Financial repression is most successful in liquidating debt when accompanied by inflation. For the advanced economies, real interest rates were negative 1⁄2 of the time during 1945–1980. Average annual interest expense savings for a 12—country sample range from about 1 to 5 percent of GDP for the full 1945–1980 period. We suggest that, once again, financial repression may be part of the toolkit deployed to cope with the most recent surge in public debt in advanced economies.
| Author | : José Antonio Ocampo |
| Publisher | : Oxford University Press |
| Total Pages | : 296 |
| Release | : 2017 |
| Genre | : Business & Economics |
| ISBN | : 019871811X |
This volume provides an analysis of the global monetary system and proposes a comprehensive yet evolutionary reform of the system aimed at creating better monetary cooperation for the twenty-first century.
| Author | : Carmen M. Reinhart |
| Publisher | : Princeton University Press |
| Total Pages | : 513 |
| Release | : 2011-08-07 |
| Genre | : Business & Economics |
| ISBN | : 0691152640 |
An empirical investigation of financial crises during the last 800 years.
| Author | : Morris Goldstein |
| Publisher | : Peterson Institute |
| Total Pages | : 401 |
| Release | : 2008 |
| Genre | : Currency question |
| ISBN | : 0881325392 |
| Author | : |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 1977 |
| Genre | : |
| ISBN | : |
| Author | : Michael D. Bordo |
| Publisher | : University of Chicago Press |
| Total Pages | : 692 |
| Release | : 2007-12-01 |
| Genre | : Business & Economics |
| ISBN | : 0226066908 |
At the close of the Second World War, when industrialized nations faced serious trade and financial imbalances, delegates from forty-four countries met in Bretton Woods, New Hampshire, in order to reconstruct the international monetary system. In this volume, three generations of scholars and policy makers, some of whom participated in the 1944 conference, consider how the Bretton Woods System contributed to unprecedented economic stability and rapid growth for 25 years and discuss the problems that plagued the system and led to its eventual collapse in 1971. The contributors explore adjustment, liquidity, and transmission under the System; the way it affected developing countries; and the role of the International Monetary Fund in maintaining a stable rate. The authors examine the reasons for the System's success and eventual collapse, compare it to subsequent monetary regimes, such as the European Monetary System, and address the possibility of a new fixed exchange rate for today's world.
| Author | : International Monetary Fund. Committee on reform of the international monetary system and related issues |
| Publisher | : |
| Total Pages | : 253 |
| Release | : 1974 |
| Genre | : Balance of payments |
| ISBN | : |
