Please enable JavaScript.
Coggle requires JavaScript to display documents.
CHAPTER 11: The International Monetary System (Introduction (The…
CHAPTER 11: The International Monetary System
Introduction
The international monetary system refers to the institutional arrangements that countries adopt to govern exchange rates
Dirty float
Pegged exchange rate system
Fixed exchange rate system
Floating exchange rate system
European Monetary System (EMS)
The Gold Standard
Strength of the Gold Standard
A powerful mechanism for achieving balance-of-trade equilibrium
The period between the wars: 1918-1939
Mechanics of the Gold Standard
The gold standard refers to a system in which countries peg currencies to gold and guarantee their convertibility
The gold par value
The Bretton Woods System
International Monetary Fund
World Bank
The Collapse of the Fixed Exchange Rate System
The Floating Exchange Rate Regime
Exchange rates since 1973
The Jamaica Agreement
Fixed versus Floating Exchange Rates
Floating exchange rate
Trade Balance Adjustments
Crisis Recovery
Monetary Policy Autonomy
Fixed exchange rate
Speculation
Uncertainty
Monetary Discipline
Trade Balance Adjustments and Economic Recovery
Crisis Management by the IMF
Financial Crises in the post–Bretton Woods Era
Banking crisis
Foreign debt crisis
Currency crisis
Evaluating the IMF’s policy prescriptions
Moral Hazard
Lack of Accountability
Inappropriate Policies
Observations
Exchange Rate Regimes in Practice
Pegged exchange rate: pegs the value of its currency to that of another major currency
Currency boards: commit to converting their domestic currency on demand into another currency at a fixed exchange rate