stability of the gold standard and the evolution of the international monetary system.

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Published by International Monetary Fund in Washington, D.C .

Written in English

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Edition Notes

Includes bibliographical references.

Book details

SeriesIMF working paper -- WP/95/89
ContributionsInternational Monetary Fund.
The Physical Object
Paginationiii, 21 p. ;
Number of Pages21
ID Numbers
Open LibraryOL20355184M

Download stability of the gold standard and the evolution of the international monetary system.

The major stages of the evolution of the international monetary system can be categorized into the following stages. The era of bimetallism. Beforethe international monetary system consisted of bimetallism, where both gold and silver coins were used as the international modes of payment.

The exchange rates among currencies were. The international monetary system refers to the system and rules that govern the use and exchange of money around the world and between countries. History of the International Monetary System. There have been four phases/ stages in the evolution of the international monetary system: Gold Standard () Inter-war period ().

The Bretton Woods Conference, which created the International Monetary Fund and the International Bank for Reconstruction and Development, was a major landmark in international cooperation. However, the Bretton Woods system came under increasing pressure in the s due to the lack of a reliable adjustment mechanism to manage payment imbalances as well as.

Get this from a library. The stability of the gold standard and the evolution of the international monetary system. [Tamim A Bayoumi; Barry J Eichengreen. Pre–World War I. As mentioned earlier in this section, ancient societies started using gold as a means of economic exchange.

Gradually more countries adopted gold, usually in the form of coins or bullion, and this international monetary system became known as the gold standard The pre–World War I global monetary system that used gold as the basis of international economic. This paper examines some popular explanations for the smooth operation of the pre gold standard.

We find that the rapid adjustment of economies to underlying disturbances played an important role in stabilizing output and employment under the gold standard system, but no evidence that this success also reflected relatively small underlying Author: Tamim Bayoumi, Barry J.

Eichengreen.

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