Hardcover

ISBN 10: 0124970605 ISBN 13: 9780124970601

Publisher: Academic Pr, 1989

This book addresses the growing debate over proposals for international monetary reform and the tentative attempts, for example at the Louvre and Plaza accords, to achieve greater coordination of macroeconomic policies.
The first section draws lessons from the experience of the interwar Gold Standard, the Bretton Woods system, and the EMS. Four papers examine theoretical issues underlying the design of coordinated economic policies. Contributors explore the use of commodity prices as indicators of inflationary pressures and analyze exchange rate target bands using concepts first developed in the financial literature. The final chapters present empirical evaluations of the performance of alternative exchange rate regimes, adding to the existing literature on the design of gains from coordinated economic policies.
The contributors, drawn from academic and policy circles, include leading advocates of exchange rate target zones and 'disciplined floating'. This book is of interest to students of international macroeconomics and policy coordination and to all those who have followed the debate on the evolution of the international monetary system.

From the Back Cover:

This book, based on a Centre for Economic Policy Research seminar on 'International Regimes and Macroeconomic Policy', addresses the growing debate over proposals for international monetary reform and the tentative attempts, for example at the Louvre and Plaza accords, to achieve greater coordination of macroeconomic policies.
The first section draws lessons from the experience of the interwar Gold Standard, the Bretton Woods system and the design of coordinated economic policies; contributors explore the use of commodity prices as indicators of inflationary pressures, and analyse exchange rate target bands using concepts first developed in the financial literature. The final chapters present empirical evaluations of the performance of alternative exchange rate regimes, adding to the existing literature on the design of and gains from coordinated economic policies.
"Essential for those following the evolution of the International Monetary System."
--THE FINANCIAL TIMES
"...the industrial world will continue to grapple with the issues addressed in Blueprints for Exchange Rate Management."
--JOURNAL OF ECONOMIC LITERATURE
"there is a great deal in this volume to inform and interest the scholar of international policy coordination."
--THE ECONOMIC JOURNAL

Review:

"Essential for those following the evolution of the International Monetary System."
--THE FINANCIAL TIMES
"Expectations roused by the quality of earlier volumes will not be disappointed: this is a stimulating collection of papers accompanied by a helpful set of discussants' reports....There is a great deal in this volume to inform and interest the scholar of international policy coordination."
--THE ECONOMIC JOURNAL
"The studies in this volume will be valuable reading for any economist interested in modeling exchange-rate systems, including historical ones."
--JOURNAL OF ECONOMIC BOTANY
"...the industrial world will continue to grapple with the issues addressed in Blueprints for Exchange Rate Management."
--JOURNAL OF ECONOMIC LITERATURE