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Concepts and Implications of International Monetary Co-ordination

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Monetary Theory and Monetary Policy

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Abstract

Much dissatisfaction has evolved with respect to the functioning of the floating exchange rate system that has governed international monetary relations between the major industrialised countries since 1973. In particular, it is claimed that this system has led to substantial short-run volatility of exchange rates and to long-lasting misalignments. The impact of these fluctuations and real exchange rate changes on output, employment and the price level is seen as a central problem of flexible exchange rates.

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Authors
  1. Manfred Willms
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Editor information

Editors and Affiliations

  1. Free University, Berlin, Germany

    Stephen F. Frowen (formerly Bundesbank Professor of Monetary Economics) (formerly Bundesbank Professor of Monetary Economics)

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© 1993 Stephen F. Frowen

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Willms, M. (1993). Concepts and Implications of International Monetary Co-ordination. In: Frowen, S.F. (eds) Monetary Theory and Monetary Policy. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-23096-9_22

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