The Postwar International Money Crisis: An Analysis, 1st Edition (Paperback) book cover

The Postwar International Money Crisis

An Analysis, 1st Edition

By Victor Argy

Routledge

446 pages

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Description

First published in 2005. Routledge is an imprint of Taylor & Francis, an informa company.

Table of Contents

Preface xi

A Summary Perspective on the Issues 1

PART ONE{emsp}International Monetary Regimes and the Euro-Dollar System

{ensp}1 The Gold Standard Regime 11

{ensp}2 The IMF System 21

{ensp}3 The Postwar Experience – 1946 to 1967 31

{ensp}4 Reform Proposals – Mark I: The Early 1960s 45

{ensp}5 Special Drawing Rights (SDRs) 54

{ensp}6 Continuing Crises and the Breakdown of Bretton Woods 60

{ensp}7 The Growth of the Euro-Currency System 68

{ensp}8 The Oil Price Shock of 1974 – Financial Impacts 88

{ensp}9 Deficiencies of the IMF System and Reasons for Its Collapse 98

10 Reforms and Reform Discussions – Mark II: 1968 to 1978 104

PART TWO{emsp}The Analytical Framework for an Open Economy

11 A Neo-Keynesian Model of Aggregate Demand and Aggregate Supply 119

12 Monetarist Models – I: The Expectations-Augmented Phillips Curve and the Natural Rate of Unemployment 131

13 Monetarist Models – II: A Two-Sector Model 142

14 The Choice of Model – Issues and Evidence 149

PART THREE{emsp}Global Inflation and Unemployment

15 Theories of Global Inflation – the 1970s 163

16 Public Sector Growth and Inflation – 1965 to 1975 174

17 Global Inflation – the Evidence 182

18 The Downturn (1974–1975) and the Conservative Reaction (1976–1978) 195

PART FOUR{emsp}Managed Floats – 1973 to 1978

19 The Forward Market – Analysis and Evidence 211

20 Exchange Rate Behaviour – Theoretical Analysis 227

21 Exchange Rate Behaviour – the Evidence 249

PART FIVE{emsp}Choice of Exchange Rate Regime

22 The Effectiveness of Macro-Policy 273

23 Insulation of the Domestic Economy from Random Disturbances 286

24 Exchange Rate Regime – World Inflation and Unemployment 295

25 Exchange Rate Flexibility, Trade, Reserve Demand and Vicious Circles 303

26 Costs and Benefits of a Managed Float 313

27 Monetary Unions – Analysis and Application to the EEC 319

PART SIX{emsp}Macro-Policy

28 Conventional Macro-Policy – Targets, Instruments and Assignments 339

29 The New Economic Environment and Its Policy Implications 354

30 Policies for Stagflation – I: A Review of Some Proposals 372

31 Policies for Stagflation – II: Prices and Incomes Policies (PIP) 387

32 A Framework for Macro-Policy 401 Bibliography 411 Index 435

Subject Categories

BISAC Subject Codes/Headings:
BUS000000
BUSINESS & ECONOMICS / General
BUS023000
BUSINESS & ECONOMICS / Economic History