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Prolegomena to the choice of an international monetary system

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  • Cooper, Richard N.

Abstract

The international monetary system—the rules and conventions that govern financial relations between countries—is an important component of international relations. When monetary relations go well, other relations have a better chance of going well; when they go badly, other areas are likely to suffer too. Monetary relations have a pervasive influence on both domestic and international economic developments, and history is strewn with examples of monetary failure leading subsequently to economic and political upheaval. Recent years have seen considerable turmoil in international monetary relations, and a marked deterioration in relations between Europe, Japan, and America. Ideally, monetary relations should be inconspicuous, part of the background in a well-functioning system, taken for granted. Once they become visible and uncertain, something is wrong.

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  • Cooper, Richard N., 1975. "Prolegomena to the choice of an international monetary system," International Organization, Cambridge University Press, vol. 29(1), pages 63-97, January.
    • Handle: RePEc:cup:intorg:v:29:y:1975:i:01:p:63-97_01
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    Cited by:

    1. Koichi Hamada, 1998. "The Choice of International Monetary Regimes in a Context of Repeated Games," Open Economies Review, Springer, vol. 9(1), pages 417-446, January.
    2. Roland Vaubel, 1986. "A public choice approach to international organization," Public Choice, Springer, vol. 51(1), pages 39-57, January.
    3. Murau, Steffen & Rini, Joe & Haas, Armin, 2020. "The evolution of the Offshore US-Dollar System: past, present and four possible futures," Journal of Institutional Economics, Cambridge University Press, vol. 16(6), pages 767-783, December.
    4. Hefeker, Carsten, 2022. "Policy coordination under model disagreement and asymmetric shocks," Economic Modelling, Elsevier, vol. 114(C).

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