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Overview"Generalized financial volatility is capitalism's Achilles' heel. And nowhere is the problem of controlling such volatility more acute than in monetary and exchange rate relationships across countries - the central theme of this book. ""The Rules of the Game"" brings together essays, written over the course of 30 years, that analyze and compare a wide variety of important international monetary regimes. These range from the establishment of the gold standard in the 19th century through Bretton Woods, the dollar standard, floating exchange rates, the European Monetary System, to current proposals for reforming world monetary arrangements. The essays specify precisely the rule of the game for each international monetary regime - past, present and future. For ease of reference, the book offers boxed summaries of each set of rules and then discusses their advantages and disadvantages from the gold standard down to the author's proposal for a common monetary standard for the 21st century. Part 2 assesses each monetary regime's success in stabilizing prices and exchange rates, while fostering international trade. Part 2 addresses a central question each country faces: what are the benefits of giving up exchange-rate flexibility to join a common monetary standard? Part 3 focuses on overall monetary reform for limiting financial volatility and exchange-rate crises in the next century - including whether or not Western Europe should adopt a common currency. The last chapter synthesizes and updates the author's previous writings on rationalizing monetary arrangements among the major industrial countries of North America, Western Europe and East Asia." Full Product DetailsAuthor: Ronald I. McKinnonPublisher: MIT Press Ltd Imprint: MIT Press Dimensions: Width: 16.00cm , Height: 4.10cm , Length: 23.10cm Weight: 1.179kg ISBN: 9780262133180ISBN 10: 0262133180 Pages: 568 Publication Date: 29 July 1996 Recommended Age: From 18 years Audience: College/higher education , Professional and scholarly , Undergraduate , Postgraduate, Research & Scholarly Format: Hardback Publisher's Status: No Longer Our Product Availability: Out of stock  The supplier is temporarily out of stock of this item. It will be ordered for you on backorder and shipped when it becomes available. Table of ContentsReviewsAuthor InformationRonald I. McKinnon is William D. Eberle Professor of International Economics at Stanford University. He is the author of several books on international economics and development finance, including The Rules of the Game: International Money and Exchange Rates (MIT Press, 1996) and, with Kenichi Ohno, Dollar and Yen: Resolving Economic Conflict between the United States and Japan (MIT Press, 1997). Tab Content 6Author Website:Countries AvailableAll regions |
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