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Did Confidence Kill The Triffin Plan?

Author

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  • Carol M Connell

Abstract

I examine two competing proposals for reforming and reviving confidence in the international monetary regime. Robert Triffin introduced and championed the proposal for centralized reserves. Fritz Machlup championed the proposal for flexible rates originally introduced by Milton Friedman. Triffin claimed that Fritz Machlup did more than anyone to ensure that floating exchange rates won the policy debate because of his influence on academic economists and policy makers. I examine Machlup’s influence on these opinion molders through his leadership of the Bellagio Group conferences.

Suggested Citation

  • Carol M Connell, 2011. "Did Confidence Kill The Triffin Plan?," Review of Business and Finance Studies, The Institute for Business and Finance Research, vol. 2(1), pages 79-87.
    • Handle: RePEc:ibf:rbfstu:v:2:y:2011:i:1:p:79-87
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    More about this item

    Keywords

    Triffin Plan; world monetary regime reform; confidence; liquidity and adjustment;
    All these keywords.

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • B23 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Econometrics; Quantitative and Mathematical Studies
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System

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