The Rules of the Game
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The Rules of the Game: International Money and Exchange Rates(The Rules of the Game)

The Rules of the Game: International Money and Exchange Rates(The Rules of the Game)


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About the Book

Table of Contents:
Part 1 International monetary standards - from gold to the dollar: the rules of the game - international money in historical perspective; exchange risk and interest rate volatility in historical perspective; an international gold standard without gold; private and official international money - the case for the dollar, 1969; sterilization in three dimensions - major trading countries, eurocurrencies and the United States; currency substitution and instability in the world dollar standard; why US monetary policy should be internationalized; money supply versus exchange-rate targeting - an asymmetry between the United States and other industrial economies. Part II Optimum currency areas and exchange-rate flexibility: optimum currency areas; optimum world monetary arrangements and the dual-currency system; floating foreign-exchange rates, 1973-74 - the emperor's new clothes; the exchange rate and macroeconmoic policy - changing postwar perceptions; exchange-rate instability, trade imbalances and monetary policy in Japan and the United States; monetary control and the crawling peg; two concepts of international currency substitution; why floating exchange rates fail - a reconsideration of the liquidity trap; floating exchange rates and the new interbloc protectionism - tariffs versus quotas. Part III International monetary reform: a common monetary standard or a common currency for Europe? - fiscal lessons from the United States; monetary and exchange-rate policies for international financial stability - a proposal; the monetary road to postwar prosperity - Marshall-Dodge or Bretton Woods?; from Plaza-Louvre to a common monetary standard for the 21st century. Appendix: McKinnon's hand reference guide to the rules of the game.

About the Author :
Ronald I. McKinnon is William D. Eberle Professor of International Economics at Stanford University. He is the author of several books on international economics and development finance, including The Rules of the Game: International Money and Exchange Rates (MIT Press, 1996) and, with Kenichi Ohno, Dollar and Yen: Resolving Economic Conflict between the United States and Japan (MIT Press, 1997).


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Product Details
  • ISBN-13: 9780262133180
  • Publisher: MIT Press Ltd
  • Publisher Imprint: MIT Press
  • Height: 231 mm
  • No of Pages: 568
  • Series Title: The Rules of the Game
  • Sub Title: International Money and Exchange Rates
  • Width: 160 mm
  • ISBN-10: 0262133180
  • Publisher Date: 29 Jul 1996
  • Binding: Hardback
  • Language: English
  • Returnable: Y
  • Spine Width: 41 mm
  • Weight: 1179 gr


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