Keynes was Opposed to the Pre-World War I Gold Standard, Because its Rigid Exchange Rate System was Disruptive of Internal Price Stability and Facilitated the International Transmission of Economic Fluctuations through Changes in National Price Levels.

2017 ◽  
pp. 47-63
Author(s):  
Joseph R. Cammarosano
Keyword(s):  
Exchange Rate ◽  
World War I ◽  
Gold Standard ◽  
Economic Fluctuations ◽  
Price Stability ◽  
World War ◽  
International Transmission ◽  
Rate System ◽  
Price Levels ◽  
Exchange Rate System

Article 219 TFEU

2019 ◽  
Author(s):  
Friedrich Erlbacher
Keyword(s):  
Exchange Rate ◽  
Central Bank ◽  
European Central Bank ◽  
European Parliament ◽  
Price Stability ◽  
Rate System ◽  
European Central ◽  
Exchange Rate System

Article 111(1) to (3) and (5) EC By way of derogation from Article 218, the Council, either on a recommendation from the European Central Bank or on a recommendation from the Commission and after consulting the European Central Bank, in an endeavour to reach a consensus consistent with the objective of price stability, may conclude formal agreements on an exchange-rate system for the euro in relation to the currencies of third States. The Council shall act unanimously after consulting the European Parliament and in accordance with the procedure provided for in paragraph 3.

scholarly journals The curious incident of the franc in the Gambia: exchange rate instability and imperial monetary systems in the 1920s

2015 ◽  
Vol 22 (3) ◽  
pp. 291-314 ◽  
Author(s):  
Leigh Gardner
Keyword(s):  
Exchange Rate ◽  
World War I ◽  
Exchange Rates ◽  
Gold Standard ◽  
World War ◽  
Fixed Rate ◽  
Legal Tender ◽  
Monetary Systems ◽  
British Colonial ◽  
The Impact

In 1922, British colonial Gambia demonetized the French 5-franc coin, which had been legal tender at a fixed rate in the colony since 1843. Until World War I, this rate was close to the international rate under the gold standard. When the franc began to depreciate in 1918, however, a gap emerged between the Gambian rate and the international rate, prompting a rapid influx of the coins. The demonetization cost the colonial administration over a year's revenue, affecting the later development of the colony. The 1920s have long been a fruitful period for the study of monetary history owing to the instability of exchange rates during and after the war. This article extends the study of this period to examine the impact of these changes on dependent colonies in West Africa, highlighting the importance of local compromises and particularities in colonial monetary systems.

scholarly journals The UK-US Game and UK's Return to Gold Standard

2020 ◽  
Vol 5 (4) ◽  
pp. 324
Author(s):  
Zheming Zhang
Keyword(s):  
United States ◽  
World War Ii ◽  
World War I ◽  
Economic System ◽  
Gold Standard ◽  
International Economic Order ◽  
The United States ◽  
World War ◽  
The World ◽  
The Uk

<p>With the continuous development and evolution of the United States, especially the economic center shift after World War II, the United States become the economic hegemon instead of the UK and thus it seized the economic initiative of the world. After the World War I, the European countries gradually withdraw from the gold standard. In order to stabilize the world economy development and the international economic order, the United States prepared to build the economic system related with its own interests so as to force the UK to return to the gold standard. The game between the United States and the UK shows the significance of economic initiative. Among them, the outcome of the two countries in the fight of the financial system also demonstrates a significant change in the world economic system.</p>

scholarly journals Measuring the relationship between the balance of payments and the exchange rate - A case study of a group of Arab countries during the period 2000/2016-

2018 ◽  
Vol 2 (2) ◽  
pp. 44-66
Author(s):  
Abd Elouahid SERARMA ◽  
Newfel BAALOUL
Keyword(s):  
Exchange Rate ◽  
Empirical Studies ◽  
Arab Countries ◽  
Balance Of Payments ◽  
Rate System ◽  
Exchange Rate System ◽  
Independent Variable ◽  
The Exchange Rate ◽  
The Relationship

The Objective of this study is to examine the effect of exchange rate system on the balance of payments, with a case study of a group of Arab countries. First we shed light on the most important theoretical and empirical studies of exchange rate systems and their macroeconomics effects in one hand. In the other hand we study a case of six oil exporting Arab countries. To achieve this purpose we adopted a panel data and run an econometric model to examine the relationships between the variables during the period 2000 to 2016. The study concluded that there is a significant positive correlation between the exchange rate as an independent variable and the balance of payments as a dependent variable, and there is no deference in the effects of the exchange system in the study of six Arab economies.

scholarly journals A Critical Evaluation of IMF History and Policies

2018 ◽  
Vol 04 (S1) ◽  
pp. 60
Author(s):  
Syed Ahmed ◽  
Abdulhamid Sukar ◽  
◽  
Keyword(s):  
Economic Development ◽  
Exchange Rate ◽  
Structural Adjustment ◽  
Developing Economies ◽  
Critical Evaluation ◽  
International Banking ◽  
Rate System ◽  
Exchange Rate System ◽  
The International Monetary Fund ◽  
The Imf

The International Monetary Fund (IMF) was originally mandated to maintain exchange rate stability and adjustment of external imbalances in member countries and to act as a lender for countries facing short-term balance-of-payment crises. With the breakdown of the fixed exchange rate system, the IMF had to adjust its role in exchange rate management. The international banking crisis in the 1980s required a recalibration of IMF policies. Most of the policies in the 1980s and 1990s were driven by “Washington Consensus,” a doctrinaire view of economic development that called for structural adjustment through market liberalization and privatizations. However, critics indicate that the IMF, by failing to consider the unique conditions in developing economies and lumping them under a “one size fits all,” category may have caused more damage than good. In addition, it was alleged that IMF loans imposed unrealistic conditions on borrowers. All these policies are under review now in a quest for appropriate policies that will address some of these concerns and aid economic development. This paper provides a brief review of IMF policies from a historical perspective and a critique of IMF policies over the last few decades.

scholarly journals KEMBALI KE SISTIM KURS TETAP (FIXED EXCHANGE RATE)?

2007 ◽  
Vol 3 (1) ◽  
pp. 37
Author(s):  
Edy Rahmantyo Tarsilohadi
Keyword(s):  
Exchange Rate ◽  
Economic Condition ◽  
Flexible Exchange Rate ◽  
Rate System ◽  
Monetary System ◽  
Fixed Exchange Rate ◽  
Exchange Rate System ◽  
The Right

Indonesia do want make the right Exchange Rate System, with be back to the Fixed Exchange Rate. In this paper, because of the economic condition and the environment monetary system, so the best system is still the Flexible Exchange Rate.

Sign in / Sign up

Export Citation Format

Share Document