Blueprints for Exchange Rate Management

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 JOURNALEichengreen, Barry J. is the author of 'Blueprints for Exchange Rate Management', published 1991 under ISBN 9780124970618 and ISBN 0124970613.