Access the full text.
Sign up today, get DeepDyve free for 14 days.
References for this paper are not available at this time. We will be adding them shortly, thank you for your patience.
In the aftermath of the global economic and financial crisis of 2007–09 and in the context of ongoing debates about the role of global imbalances as a cause of that crisis, attention has reverted to the desirability of reforming the international monetary system. This paper argues that today’s international monetary system is not uniquely prone to global current account imbalances even though they pose potential problems for the stability of the international economy and financial system. The US dollar is not the only reserve currency. Its broader role as an international currency is much more important than its role as a reserve currency. Moreover, the US dollar’s international role in either form does not force the United States to have current account deficits. The international monetary system should continue to evolve with the international financial system, but the case for radical reform has not been made. JEL: E42, E52, F33, O42 Keywords: international monetary system, currency, global imbalance
Economics, Management, and Financial Markets – Addleton Academic Publishers
Published: Jan 1, 2011
Read and print from thousands of top scholarly journals.
Already have an account? Log in
Bookmark this article. You can see your Bookmarks on your DeepDyve Library.
To save an article, log in first, or sign up for a DeepDyve account if you don’t already have one.
Copy and paste the desired citation format or use the link below to download a file formatted for EndNote
Access the full text.
Sign up today, get DeepDyve free for 14 days.
All DeepDyve websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings through your browser.