The international monetary system: diffusion and ambiguity
نویسندگان
چکیده
منابع مشابه
- 1 - the International Monetary System : Diffusion and Ambiguity
This essay looks at the dynamics of power and rule setting in the international monetary system. I begin with a brief discussion of the meaning of power in international monetary relations, distinguishing between two critical dimensions of monetary power, autonomy and influence. Major developments have led to a greater diffusion of power in monetary affairs, both among states and between states...
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I have a personal reason for choosing this topic. For many years it has troubled me that some of my friends and colleagues view themselves as monetarists and analyze domestic policy from that perspective, while another group of my friends maintains that fixed exchange rates are the glue that holds the world economy together. From the perspective of that group, the world would be a better place ...
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(A.1) Rē− R̄r = γ[2b(R2σ2 e + σ2 − 2R σ σe) + 2w∗ R σ σe − 2w∗ σ2], where ē = E+[e] and σe = Var+(e). Suppose agents were expecting debt to be safe, then ē = 1 and σe = 0, so we have Rs(b) = R̄r + γ[2bσ2 − 2w∗ σ2] = R̄r − 2γ(w∗ − b)σ2. This proves the first part of the proposition. Suppose agents were expecting Hegemon debt to be risky, then ē = R̄/RH and σe = σ/R r H since we assumed eL = RL/R r H...
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Research in the early 1980s found that the gains from international coordination of monetary policy were quantitatively small compared to simply getting domestic policy right. That prediction turned out to be a pretty good description of monetary policy in the 1980s, 1990s, and until recently. Because this balanced international picture has largely disappeared, the 1980s view about monetary pol...
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“occupy wall street” movement which has aimed the heart of the global financial capitalist system enjoys a special significance in the perspective of social-economic- political, human rights (work force), moral and cultural heritage of nations and can be considered as a symbol of work force economic jihad in national and global level in order to realize justice and socio-economic equality. but ...
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ژورنال
عنوان ژورنال: International Affairs
سال: 2008
ISSN: 0020-5850,1468-2346
DOI: 10.1111/j.1468-2346.2008.00717.x