France and the Breakdown of the Bretton Woods International Monetary System PDF Download

Author: Ms.Dominique Simard
Publisher: International Monetary Fund
ISBN: 1451935366
Category : Business & Economics
Languages : en
Pages : 58

View

Book Description
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.

Author: Naomi R. Lamoreaux
Publisher: Yale University Press
ISBN: 0300236794
Category : History
Languages : en
Pages : 505

View

Book Description
Commentaries by top scholars alongside the most important documents and speeches concerning the Bretton Woods Conference of 1944 The two world wars brought an end to a long-standing system of international commerce based on the gold standard. After the First World War, the weaknesses in the gold standard contributed to hyperinflation, the Great Depression, the rise of fascism, and ultimately World War II. The Bretton Woods Conference of 1944 arose out of the Allies' desire to design a postwar international economic system that would provide a basis for prosperity, trade, and worldwide economic development. Alongside important documents and speeches concerning the adoption and evolution of the Bretton Woods system, this volume includes lively, readable, original essays on such topics as why the gold standard was doomed, how Bretton Woods encouraged the adoption of Keynesian economics, how the agreements influenced late-twentieth-century ideas of international development, and why the agreements ultimately had to give way to other arrangements.

Author: Robert Triffin
Publisher:
ISBN:
Category :
Languages : en
Pages : 87

View

Book Description

Author: Ms.Christine Lagarde
Publisher: International Monetary Fund
ISBN: 1513598600
Category : Business & Economics
Languages : en
Pages : 16

View

Book Description
This chapter presents the content of the Richard Dimbleby lecture, which has been delivered by an influential business or a political figure every year since 1972. Christine Lagarde, Managing Director of the IMF, delivered the 2014 lecture at Guildhall in London on February 3. The 44 nations gathering at Bretton Woods have been determined to set a new course based on the principle that peace and prosperity flow from the font of cooperation. Fundamentally, the new multilateralism needs to instil a broader sense of social responsibility on the part of all players in the modern global economy. A renewed commitment to openness and to the mutual benefits of trade and foreign investment is requested. It also requires collective responsibility for managing an international monetary system that has travelled light-years since the old Bretton Woods system. The collective responsibility would translate into all monetary institutions cooperating closely mindful of the potential impact of their policies on others.

Author: Benn Steil
Publisher: Princeton University Press
ISBN: 0691149097
Category : Business & Economics
Languages : en
Pages : 480

View

Book Description
Recounts the events of the Bretton Woods accords, presents portaits of the two men at the center of the drama, and reveals Harry White's admiration for Soviet economic planning and communications with intelligence officers.

Author: Michael D. Bordo
Publisher: University of Chicago Press
ISBN: 0226066908
Category : Business & Economics
Languages : en
Pages : 692

View

Book Description
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: Stephen V. O. Clarke
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 60

View

Book Description

Author: Nathan Marcus
Publisher:
ISBN: 9780674982581
Category : BUSINESS & ECONOMICS
Languages : en
Pages :

View

Book Description
Through an archive-based study of the political and financial history of the 1920s, this book examines how and why international capital teamed up with the League of Nations to bail out the Austrian state after the First World War, and what consequences the intervention carried for Austrian politics and finance. While the existing literature on the League of Nations sees the organization's intervention during the 1920s as mostly positive and successful, Austrian historians decried it as a financial dictatorship that ended in disaster. In contrast, the book claims that while the League of Nations' involvement was essentially responsible for terminating Austrian hyperinflation in 1922, its representatives remained largely immobilized in Vienna, with the Austrian government in control. The League ceased its involvement Austria in 1926, though aware of the latter's financial and political instability. The subsequent collapse of the Austrian Credit-Anstalt bank in 1931, however, was successfully contained with international help within just a few weeks. Thus, it could not have triggered and was not responsible for the larger European banking panics in Germany and Britain that summer.--

Author: Mr.Jaromir Benes
Publisher: International Monetary Fund
ISBN: 1475505523
Category : Business & Economics
Languages : en
Pages : 71

View

Book Description
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: John Maynard Keynes
Publisher: Simon Publications LLC
ISBN: 9781931541138
Category : Business & Economics
Languages : en
Pages : 312

View

Book Description
John Maynard Keynes, then a rising young economist, participated in the Paris Peace Conference in 1919 as chief representative of the British Treasury and advisor to Prime Minister David Lloyd George. He resigned after desperately trying and failing to reduce the huge demands for reparations being made on Germany. The Economic Consequences of the Peace is Keynes' brilliant and prophetic analysis of the effects that the peace treaty would have both on Germany and, even more fatefully, the world.