Postwar International Money Crisis An Analysis

Preface xiA Summary Perspective on the Issues 1PART 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 9810 Reforms and Reform Discussions '¬" Mark II: 1968 to 1978 104PART TWO{emsp}The Analytical Framework for an Open Economy11 A Neo-Keynesian Model of Aggregate Demand and Aggregate Supply 11912 Monetarist Models '¬" I: The Expectations-Augmented Phillips Curve and the Natural Rate of Unemployment 13113 Monetarist Models '¬" II: A Two-Sector Model 14214 The Choice of Model '¬" Issues and Evidence 149PART THREE{emsp}Global Inflation and Unemployment15 Theories of Global Inflation '¬" the 1970s 16316 Public Sector Growth and Inflation '¬" 1965 to 1975 17417 Global Inflation '¬" the Evidence 18218 The Downturn (1974'¬"1975) and the Conservative Reaction (1976'¬"1978) 195PART FOUR{emsp}Managed Floats '¬" 1973 to 197819 The Forward Market '¬" Analysis and Evidence 21120 Exchange Rate Behaviour '¬" Theoretical Analysis 22721 Exchange Rate Behaviour '¬" the Evidence 249PART FIVE{emsp}Choice of Exchange Rate Regime22 The Effectiveness of Macro-Policy 27323 Insulation of the Domestic Economy from Random Disturbances 28624 Exchange Rate Regime '¬" World Inflation and Unemployment 29525 Exchange Rate Flexibility, Trade, Reserve Demand and Vicious Circles 30326 Costs and Benefits of a Managed Float 31327 Monetary Unions '¬" Analysis and Application to the EEC 319PART SIX{emsp}Macro-Policy28 Conventional Macro-Policy '¬" Targets, Instruments and Assignments 33929 The New Economic Environment and Its Policy Implications 35430 Policies for Stagflation '¬" I: A Review of Some Proposals 37231 Policies for Stagflation '¬" II: Prices and Incomes Policies (PIP) 38732 A Framework for Macro-Policy 401 Bibliography 411 Index 435Argy, Victor is the author of 'Postwar International Money Crisis An Analysis', published 2006 under ISBN 9780415379199 and ISBN 0415379199.