Monetary Theory And Bretton Woods

Author : Filippo Cesarano
Publisher : Cambridge University Press
ISBN 13 : 1139459171
Total Pages : 5 pages
Book Rating : 4.74/5 ( download)

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Download or read book Monetary Theory and Bretton Woods written by Filippo Cesarano and published by Cambridge University Press. This book was released on 2006-09-04 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 The severe shocks and monetary gyrations of the interwar years interacted with theoretical developments that superseded the rigid rules of commodity standards and led to the full-fledged conception of monetary policy.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
ISBN 13 : 9783540416050
Total Pages : 242 pages
Book Rating : 4.56/5 ( download)

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Download or read book From Gold to Euro written by Heinz-Peter Spahn and published by Springer Science & Business Media. This book was released on 2001-02-26 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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
ISBN 13 : 1134098669
Total Pages : 256 pages
Book Rating : 4.68/5 ( download)

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Download or read book Monetary Theory in Retrospect written by Filippo Cesarano and published by Routledge. This book was released on 2012-08-06 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 : Kathrin C. Hägele
Publisher : GRIN Verlag
ISBN 13 : 3640634373
Total Pages : 57 pages
Book Rating : 4.78/5 ( download)

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Download or read book The Bretton Woods System of Fixed Exchange Rates - Theoretical Background and Its Development written by Kathrin C. Hägele and published by GRIN Verlag. This book was released on 2010-08 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 : Michael Woodford
Publisher : Princeton University Press
ISBN 13 : 1400830168
Total Pages : 805 pages
Book Rating : 4.69/5 ( download)

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Download or read book Interest and Prices written by Michael Woodford and published by Princeton University Press. This book was released on 2011-12-12 with total page 805 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 : Stephanie Kelton
Publisher : PublicAffairs
ISBN 13 : 1541736206
Total Pages : 311 pages
Book Rating : 4.07/5 ( download)

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Download or read book The Deficit Myth written by Stephanie Kelton and published by PublicAffairs. This book was released on 2020-06-09 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: A New York Times Bestseller The leading thinker and most visible public advocate of modern monetary theory -- the freshest and most important idea about economics in decades -- delivers a radically different, bold, new understanding for how to build a just and prosperous society. Stephanie Kelton's brilliant exploration of modern monetary theory (MMT) dramatically changes our understanding of how we can best deal with crucial issues ranging from poverty and inequality to creating jobs, expanding health care coverage, climate change, and building resilient infrastructure. Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country. Kelton busts through the myths that prevent us from taking action: that the federal government should budget like a household, that deficits will harm the next generation, crowd out private investment, and undermine long-term growth, and that entitlements are propelling us toward a grave fiscal crisis. MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity.

Author : John Earl Floyd
Publisher : University of Pennsylvania Press
ISBN 13 :
Total Pages : 270 pages
Book Rating : 4.48/5 ( download)

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Download or read book World Monetary Equilibrium written by John Earl Floyd and published by University of Pennsylvania Press. This book was released on 1985 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Marcello De Cecco
Publisher : Springer
ISBN 13 : 1349087815
Total Pages : 354 pages
Book Rating : 4.15/5 ( download)

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Download or read book Monetary Theory and Economic Institutions written by Marcello De Cecco and published by Springer. This book was released on 1987-03-30 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Ronald I. McKinnon
Publisher : Princeton, N.J. : International Finance Section, Princeton University
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.83/5 ( download)

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Download or read book Monetary Theory and Controlled Flexibility in the Foreign Exchanges written by Ronald I. McKinnon and published by Princeton, N.J. : International Finance Section, Princeton University. This book was released on 1971 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Benn Steil
Publisher : Princeton University Press
ISBN 13 : 0691149097
Total Pages : 480 pages
Book Rating : 4.97/5 ( download)

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Download or read book The Battle of Bretton Woods written by Benn Steil and published by Princeton University Press. This book was released on 2013-02-24 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.