The euro-dollar and the internationalization of United States monetary policy

Authors

  • C.P. KINDLEBERGER

DOI:

https://doi.org/10.13133/2037-3643/11724

Keywords:

SDR, liquidity, exchange-rate flexibility, financial intermediation, Euro-dollar

Abstract

The last two years have seen a series of monetary crises which have led a number of observers to the opinion that the international monetary system, as we have known it, is on its last legs. The essence of the problem is that it may not be possible to keep the gold standard or the gold exchange standard when various countries have policies which are not in harmony. The author comments on the changing landscape of the international monetary system, the problems it faces and the reforms that are being proposed. Although the consensus or community necessary to run it is lacking, it is argued that the fixed-rate system is the most liberal, open and international.


JEL: E52, E42, E51

 

 

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Published

2014-03-03

How to Cite

KINDLEBERGER, C. (2014). The euro-dollar and the internationalization of United States monetary policy. PSL Quarterly Review, 22(88). https://doi.org/10.13133/2037-3643/11724

Issue

Vol. 22 No. 88 (1969)

Section

Editorial

License

 
 
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