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The International Monetary System: A Time of Turbulence, edited by
Jacob S. Dreyer, Gottfried Haberler, and Thomas D. Willett, presents
the edited proceedings of a conference sponsored by the American
Enterprise Institute. The participants examine the major causes of the
increased stress facing the international monetary system and discuss
strategies for improving the operation of the system. The volume includes
the following papers, with commentaries on the papers and summaries
of the discussions:
     The International Monetary System Again under Stress, Gottfried
Haberler
     The Causes and Effects of Exchange Rate Volatility, Thomas D.
Willett
     Intervention Strategy: Implications of Purchasing Power Parity
and Tests of Spot Exchange Market Efficiency, Richard J. Sweeney
     What Can We Learn from the Past? Otmar Emminger
     The Experience with Floating: The 1973-1979 Dollar, Steven W.
Kohlhagen
     West Germany's  and Switzerland's Experience with Exchange
Rate Flexibility, Roland Vaubel
     The Value of the Yen, Michael W. Keran
     The Growth of Official Reserves and the Issue of World Monetary
Control, John Williamson
     The Need for Control over the Eurocurrency Market, Henry C.
Wallich
     Reserve Requirements on  Eurocurrency Deposits, Dale  W.
Henderson and Douglas G. Waldo
     Offshore Markets in Foreign Currencies and National Monetary
Control, Ronald I. McKinnon
     The Future of the Dollar and Other Reserve Assets, Edward M.
Bernstein
     The Dollar and the ECU, Michele Fratianni
     National Financial Policies in an Interdependent World, Jacob S.
Dreyer








       American Enterprise Institute for Public Policy Research
       1150 Seventeenth Street, N.W., Washington, D.C. 20036


CDZ


ISBN 978-0-8447-2227-6



9780844 722276  1


               The

     International

Monetary System

A Time of Turbulence
             Edited  by
Jacob S. Dreyer, Gottfried Haberler,
       and Thomas   D. Willett

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