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The European Monetary System and the International Monetary System
JCMS: Journal of Common Market Studies, 1989ABSTRACTThe article examines first the European Monetary System (EMS) experience and whether it can be applied to the International Monetary System (IMS). The EMS has particular features: it is not simply a regional Bretton Woods, and it also has a dimension going beyond the monetary field.Countries participating in the EMS exchange rate mechanism (ERM)
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Putting the ‘System’ in the International Monetary System [PDF]
The international gold standard of the late nineteenth century has been described as a system of 'spontaneous order', capturing the idea that its architects at the time were fashioning domestic monetary systems which created a system of fixed exchange rates almost as a by-product.
Michael D. Bordo, Angela Redish
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The International Monetary System
Open Economies Review, 1998This paper outlines the main features of the present international monetary system and the challenges that policy makers face.
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Monetary Systems and the International Monetary System: Evolution and Reform
2018The drastic changes in the international monetary system over the past 100 or so years present a history filled with turbulence and breathtaking excitement. The United Kingdom’s pound sterling was the primary reserve currency for much of the world in the 19th century.
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This chapter presents the evolution of Western monetary systems from the bimetallic standards of medieval Europe through the gold standard and Bretton Woods eras to today’s fiat money regimes. The chapter notes that issues of revenue creation enabled by the monopoly over money issue—through debasement and/or inflation—runs through this history, as does
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Monetary targeting in Germany: The stability of monetary policy and of the monetary system
Journal of Monetary Economics, 1997Abstract For more than two decades the Deutsche Bundesbank has followed a strategy of pre-announcing targets for the growth in broad money. Such consistency has not conflicted with limited flexibility in policy implementation. The stable policy environment may have contributed to the stability of the monetary system in general and money demand in ...
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