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The world monetary system after postponement of the substitution account

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  • Wallich, Henry C.

Abstract

Recently the Interim Committee of the International Monetary Fund met in Hamburg without making significant progress on the proposal for a substitution account. One of the main initiatives toward restructuring the international monetary system thus was postponed if not indefinitely suspended. What problem was the substitution account designed to solve? Can it be solved without the substitution account?

Suggested Citation

  • Wallich, Henry C., 1980. "The world monetary system after postponement of the substitution account," Intereconomics – Review of European Economic Policy (1966 - 1988), ZBW - Leibniz Information Centre for Economics, vol. 15(4), pages 163-167.
    • Handle: RePEc:zbw:inteco:139683
    DOI: 10.1007/BF02930845
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    Citations

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    Cited by:

    1. Barry Eichengreen, 2011. "Out-of-the-Box Thoughts about the International Financial Architecture," Chapters, in: Sylvester Eijffinger & Donato Masciandaro (ed.), Handbook of Central Banking, Financial Regulation and Supervision, chapter 13, Edward Elgar Publishing.
    2. Peter B. Kenen, 2010. "Reforming the Global Reserve Regime: The Role of a Substitution Account," International Finance, Wiley Blackwell, vol. 13(1), pages 1-23, March.
    3. Robert N McCauley & Catherine R Schenk, 2014. "Reforming the international monetary system in the 1970s and 2000s: would an SDR substitution account have worked?," BIS Working Papers 444, Bank for International Settlements.

    More about this item

    Keywords

    Monetary Policy;

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