Download or read book Strengthening the International Monetary System written by Mr.Morris Goldstein and published by International Monetary Fund. This book was released on 1987-02-26 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report comprises three papers written by staff members of the Fund's Research Department on issues arising out of the reports on the international monetary system prepared in 1985 by the Group of Ten (representing the industrial countries participating in the General Arrangements to Borrow) and the intergovernmental Group of Twenty-Four on International Monetary Affairs. These two reports, which appear as appendices to this volume, were transmitted to the Interim Committee of the Fund's Board of Governors and were subsequently discussed by the Fund's Executive Board in early 1986.

Download or read book Strengthening the International Monetary System Taking Stock and Looking Ahead written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2011-03-23 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current IMS has survived for over forty years, underpinning strong growth in GDP and in the international exchange of goods and capital, one of its core objectives. As a result, interdependence among the world’s economies has grown dramatically, making the existence of a sound system ever more important. At the same time, the system has exhibited many symptoms of instability—frequent crises, persistent current account imbalances and exchange rate misalignments, volatile capital flows and currencies, and unprecedentedly large reserve accumulation. These symptoms have come to a head since the 2008 crisis and brought renewed international momentum to the idea of attempting to reform the IMS. Yet the debate so far suggests little consensus on the underlying problems, let alone on the solutions. This paper identifies four root causes to these problems: inadequate global adjustment mechanisms to prevent inconsistent or imprudent policies among systemic countries; lack a comprehensive oversight framework for growing cross-border capital flows, covering both source and recipient countries; inadequate systemic liquidity provision mechanisms; and structural challenges in the supply of safe assets.

Download or read book Strengthening the International Monetary System A Stocktaking written by International Monetary Fund and published by International Monetary Fund. This book was released on 2016-02-22 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: In light of the changing contours of the global economy, this paper provides an overview of the challenges facing the International Monetary System (IMS). It seeks to forge a common understanding of the challenges facing the IMS and its shortcomings, and to lay the basis for discussing a possible roadmap for further work on reform areas.

Download or read book Strengthening the International Monetary System written by Mr. Andrew Crockett and published by International Monetary Fund. This book was released on 1987-02-26 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report comprises three papers written by staff members of the Fund's Research Department on issues arising out of the reports on the international monetary system prepared in 1985 by the Group of Ten (representing the industrial countries participating in the General Arrangements to Borrow) and the intergovernmental Group of Twenty-Four on International Monetary Affairs. These two reports, which appear as appendices to this volume, were transmitted to the Interim Committee of the Fund's Board of Governors and were subsequently discussed by the Fund's Executive Board in early 1986.

Download or read book Strengthening the World Monetary System written by Committee for Economic Development and published by . This book was released on 1973 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Reforming the International Monetary System written by Emmanuel Farhi and published by CEPR. This book was released on 2011 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report presents a set of concrete proposals of increasing ambition for the reform of the international monetary system. The proposals aim at improving the international provision of liquidity in order to limit the effects of individual and systemic crises and decrease their frequency. The recommendations outlined in this report include: / Develop alternatives to US Treasuries as the dominant reserve asset, including the issuance of mutually guaranteed European bonds and (in the more distant future) the development of a yuan bond market. / Make permanent the temporary swap agreements that were put in place between central banks during the crisis. Establish a starshaped structure of swap lines centred on the IMF. / Strengthen and expand existing IMF liquidity facilities. On the funding side, expand the IMF's existing financing mechanisms and allow the IMF to borrow directly on the markets. / Establish a foreign exchange reserve pooling mechanism with the IMF, providing participating countries with access to additional liquidity and, incidentally, allowing reserves to be recycled into productive investments.To limit moral hazard, the report proposes the setting up of specific surveillance indicators to monitor international funding risks associated with increased insurance provision. The report discusses the role of the special drawing rights (SDRs) and the prospects for turning this unit of account into a true international currency, arguing that it would not solve the fundamental problems of the international monetary system. The report also reviews the conditions under which emerging market economies may use temporary capital controls to counteract excessive and volatile capital flows. The potential for negative externalities requires mutual monitoring and international cooperation in terms of financial regulation and suggests that the mandate of the IMF should be extended to the financial account.

Download or read book Functioning of the International Monetary System written by Mr.Jacob A. Frenkel and published by International Monetary Fund. This book was released on 1996-04-24 with total page 508 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fiftieth anniversary of the Bretton Woods Conference served as an opportunity to reappraise the desirability of strengthening the IMF's oversight of the functioning of the international monetary system. Whatever the design of an exchange rate system and the arrangements for the provision of international liquidity, it is widely accepted that to be effective such oversight must rest on a strong analytic foundation. These two volumes, edited by Jacob A. Frenkel and Morris Goldstein, present 30 analytic papers on the system as it functioned during 1987-91 and aim at conveying the flavor of those issues that commanded close attention in the Fund's research program.

Download or read book Guidelines for Improving the International Monetary System Round Two written by United States. Congress. Joint Economic Committee. Subcommittee on International Exchange and Payments and published by . This book was released on 1967 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Debate on the International Monetary System written by Isabelle Mateos and published by . This book was released on 2019 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global crisis resurrected deep-rooted concerns about the functioning of the international monetary system (IMS). Despite its relative stability, the current “non-system” has the inherent weaknesses of a setup with a dominant country-issued reserve currency, wherein the reserve issuer runs fiscal and external deficits to meet growing world demand for reserve assets and where there is no ready mechanism forcing surplus or reserve-issuing countries to adjust. The problem has amplified in recent years in line with a sharp rise in the demand for reserves, reflecting in part emerging markets' tendency to self-insure against costly capital account crises. This paper considers options to address these tensions, thereby contributing to the ongoing debate on strengthening the international monetary system. On the demand side, it explores alternative insurance arrangements that could mitigate the precautionary demand for reserves. On the supply side, it assesses a menu of alternative reserve assets that could offer sustained stability and efficiency. Many of the proposals presented would require fundamental changes in the forms and degree of international cooperation, but may gain realism and practical relevance if more incremental efforts at strengthening the current system fail.

Download or read book The International Monetary System written by Peter B. Kenen and published by Cambridge University Press. This book was released on 1994-10-13 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the two decades prior to publication of this 1994 book, international monetary relations had been characterised by latent instability, and then by severe tensions. Yet the issue of reforming the international monetary system does not appear on the agenda of the policy makers of the major countries involved. The International Monetary System tries to analyse this apparent contradiction. It brings together contributions from some of the most authoritative academic economists and monetary officials, and examines each of the fundamental functions of the international monetary system. There is broad support for improving present monetary arrangements with the aim of ensuring more stable conditions in monetary and financial markets and of promoting the orderly adjustment of payments disequilibria. For political reasons a fully-fledged reform exercise is unlikely, but very few experts seem to like the status quo. This book provides the reader with a comprehensive account of the institutional and policy changes required to manage an increasingly integrated and interdependent global monetary and financial system.

Download or read book Reform of the International Monetary System written by Masahiro Kawai and published by Springer. This book was released on 2016-08-23 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: By providing a comprehensive overview of policy proposals for the international monetary system from an Asian perspective, this book aims to identify what innovations are needed to reform the international monetary and financial system to promote financial stability and sustainable economic growth for emerging economies. The book is organized into four parts. Part 1 discusses major theoretical and empirical issues related to reform of the international monetary system. Part 2 includes two chapters that present the recent developments and challenges for managing capital flows. Part 3 presents different perspectives on regional currency cooperation in Asia and Europe by assessing the evidence supporting increased currency coordination in Asia and by review issues of policy cooperation in the Euro area after the global financial crisis and their implications for Asia. Part 4 discusses emerging issues for regional/global cooperation and financial safety nets. The main inference of the book is that, in light of the drawbacks of the existing international monetary system exposed in the global financial crisis, along with other countries, Asian emerging economies should work cooperatively to reform and strengthen international monetary and financial policy. To do so, regional and global monetary cooperation is needed and financial safety nets should be strengthened to alleviate the impact of possible global financial crises. This will be one of the first books written about the global financial crisis and the on going the European sovereign debt crisis to comprehensively address the issues related to currency cooperation, based on the Euro area experience, with the specific implications for Asia.

Download or read book Strengthening the International Monetary System written by Alfred Reifman and published by . This book was released on 1995 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Improving the International Monetary System written by Michael Mussa and published by . This book was released on 1994 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current exchange rate regime; The expansion and integration of international financial markets; Volatility, misalignment and access to capital; Limiting exchange rate variability: the target zone methods.

Download or read book Enhancing International Monetary Stability A Role for the SDR written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2011-07-01 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: The SDR has enjoyed renewed attention lately in the context of debates on international monetary reform. To be sure, the term SDR has been used to refer to three different concepts—(i) a composite reserve asset created in 1969: the “official SDR” as defined in the Fund’s Articles; (ii) a potential new class of reserve assets: tradable SDRdenominated securities issued by the Fund or an investment vehicle backed by a subset of the Fund’s membership; and (iii) a unit of account, which could be used to price internationally traded assets (e.g., sovereign bonds) and goods (e.g., commodities), to peg currencies, and to report balance of payments data. All three are discussed in this paper.

Download or read book Strengthening the Architecture of the International Monetary System written by and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This site lists reform initiatives in chart form, and includes links to, in addition to the Managing Director's report, the press conference of Oct. 3, 1998; Reforming world finance: lessons from a crisis / by Stanley Fischer; Declaration of G7 finance ministers and central bank governors, Oct. 30, 1998; G7 leaders' statement on the world economy, Oct. 30, 1998; memorandum on the work program, Oct. 30, 1998; Reports on the international financial architecture; Transparency at the IMF.

Download or read book The Debate on the International Monetary System written by Rishi Goyal and published by INTERNATIONAL MONETARY FUND. This book was released on 2009-11-11 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Strengthening the World Monetary System written by Committee for Economic Development. Research and Policy Committee and published by . This book was released on 1973 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: