Do the International Monetary and Financial Systems Need More Than Short-Term Cosmetic Reforms?

REFERENCES

• Alessandrini P., and M. Fratianni. 2009. “Resurrecting Keynes to Stabilize the International Monetary System.” Open Economic Review 20: 339–58.
   Web of Science ®Google Scholar
• Barry C., and S. Fazzari. 2015. “Rising Inequality and Stagnation in the US Economy.” European Journal of Economics and Economic Policies: Intervention 12, no. 2: 170–182.
   Google Scholar
• Bernanke, B. 2007. “Global Imbalances: Recent Developments and Prospects.” Speech at the Bundesbank lecture, Berlin, Germany, September 11. http://www.federalreserve.gov/newsevents/speech/bernanke20070911.htm
   Google Scholar
• Carabelli, A., and M. Cedrini. 2010. “Global Imbalances, Monetary Disorder, and Shrinking Policy Space: Keynes’s Legacy for our Troubled World.” European Journal of Economics and Economic Policies: Intervention 7, no. 2: 303–23.
   Google Scholar
• Costabile, Lilia. 2009. “Current Global Imbalances and the Keynes Plan: A Keynesian Approach for Reforming the International Monetary System.” Structural Change and Economic Dynamics 20, no. 2: 79–89.
   Google Scholar
• Davidson, P. 2015. “Globalization and an International Monetary Clearing Union.” Working paper prepared for the World Economics Association Conference, “Ideas Towards a New International Financial Architecture,” WEA Conference, Bristol, UK, May 15–July 15.
   Google Scholar
• De Cecco, M. 2012. “Global Imbalances: Past, Present and Future.” Contributions to Political Economy 3: 29–50.
   Google Scholar
• Dooley, M.; D. Folkerts-Laundau; and P. Garber. 2003. “An Essay on the Revived Bretton Woods System.” NBER Working Paper 9971.
   Google Scholar
• ———. 2014. “The Revived Bretton Woods System’s First Decade.” NBER Working Paper 20454.
   Google Scholar
• Eichengreen, B. 2004. “Global Imbalances and the Lessons of Bretton Woods.” NBER Working Paper 10497.
   Google Scholar
• ———. 2011. Exorbitant Privilege: the Rise and Fall of the $ and the Future of International Monetary System. Oxford: Oxford University Press.
   Google Scholar
• Eichengreen, B., and M. Flandreau. 2008. “The Rise and Fall of the Dollar, or When Did the Dollar Replace Sterling as the Leading Reserve Currency?” NBER Working Paper 14154.
   Google Scholar
• Eichengreen, B. 2009. Out of the Box, Thoughts about the International Financial Architecture. No. 9-116. International Monetary Fund.
   Google Scholar
• Galbraith, J. 2003. “The Larger International Monetary Problem.” Adapted from a Levy Institute Policy Note. Course outline and Syllabus 2007–2008, International Economics, CISD, SOAS, electronic readings. http://www.cisd.soas.ac.uk/index.asp-Q-Page-E-electronic-readings-week-by-week--86224002
   Google Scholar
• Helleiner, E. 1994. States and the Re-emergence of Global Finance: From Bretton Woods to the 1990s. Ithaca, NY: Cornell University Press.
   Google Scholar
• Keynes, J.M.. 1973. The Collected Writings of John Maynard Keynes, Volumes I—VI and XV—XVI. Volume 26, no. 1: 141–152.
   Google Scholar
• Keynes, J.M. 1980a. Activities 1940–1944, Shaping the Post-War World: The Clearing Union. In The Collected Writings of John Maynard Keynes. Vol. 25, Royal Economic Society. London: Macmillan.
   Google Scholar
• ———. 1980b. Activities 1944–1946: The Transition to Peace. In The Collected Writings of John Maynard Keynes. Vol. 24, Royal Economic Society. London: Macmillan.
   Google Scholar
• Kindleberger, C. 1987. “Financial deregulation and economic performance: An Attempt to Relate European Financial History to Current LDC Issues.” Journal of Development Economics 27, nos. 1–2: 339–353.
   Web of Science ®Google Scholar
• Krugman, P. 2007. “Will There Be a Dollar Crisis?” Economic Policy (July): 435–67.
   Web of Science ®Google Scholar
• Mateos y Lago I.; R. Duttagupta; R. Goyal. 2009. “The Debate of the International Monetary System.” International Monetary Fund (IMF), Staff Position Note (November).
   Google Scholar
• Obstfeld, M., and K. Rogoff. 2004. “The Unsustainable US Current Account Position Revisited.” NBER Working Paper 10869.
   Google Scholar
• Obstfeld, O. and K. Rogoff. 2009. “Global Imbalances and the Financial Crisis: Products of Common Causes.” CEPR, Discussion Paper 7606.
   Google Scholar
• Ocampo, J.A. 2007–8. “The Instability and Inequities of the Global Reserve System.” International Journal of Political Economy 36, no. 4 (Winter): 71–96.
   Google Scholar
• Padoa-Schioppa, T. 2010. “The Ghost of Bancor: the Economic Crisis and Global Monetary Disorder.” Speech at Louvain-la-Neuve, February 25.
   Google Scholar
• Palley, T. 2007–8. “The Fallacy of the Revised Bretton Woods Hypothesis.” International Journal of Political Economy 36, no. 4 (Winter): 36–52.
   Google Scholar
• ———. 2009. “America’s Exhausted Paradigm: Macroeconomic Cause of the Financial Crisis and Great Recession.” New American Contract Policy Paper, New America Foundation, Washington, DC, July.
   Google Scholar
• ———. 2011. “Explaining Global Financial Imbalances: A Critique of the Saving Glut and Reserve Currency Hypotheses.” IMK Working Paper, no. 13.
   Google Scholar
• ———. 2013. “Europe’s Crisis Without End: The Consequences of Neo-Liberalism Run Amok.” IMK, Macroeconomic Policy Institutions, Macroeconomic Policy Institutions, Working Paper no. 111, March.
   Google Scholar
• Perelstein, J.S. 2009. “Macroeconomic Imbalances in the United States and Their Impact on the International Financial System.” Levy Economics Institute of Bard College, Working Paper no. 554.
   Google Scholar
• Piffaretti, Nadia F. 2009. “Reshaping the International Monetary Architecture: Lessons from Keynes’ Plan.” World Bank Policy Research Working Paper Series 5034.
   Google Scholar
• Polak, J.J. 1996. “Impasse on the Role of SDR.” In Functioning of the International Monetary System, Vol. 2, ed. J.A. Frenkel, and M. Goldstein, 927–41. Washington, DC:: International Monetary Fund.
   Google Scholar
• Rochet, J.-C., and X. Vives. 2004. “Coordination Failure and the Lender of Last Resort: Was Bagehot Right After All?” Journal of the European Economic Association 2, no. 6 (December): 1116–47.
   Web of Science ®Google Scholar
• Rossi, S. 2007. “The Monetary-Policy Relevance of the International Settlement Institution: The Keynes Plan 60 Years Later.” In Money and Markets: A Doctrinal Approach, ed. A. Giacomin, and M.C. Marcuzzo. 120–131, London: Routledge.
   Google Scholar
• ———. 2015. “Structural Reforms in Payment Systems to Avoid Another Systemic Crisis.” Review of Keynesian Economics 3, no. 2: 213–25.
   Web of Science ®Google Scholar
• Sau, L. 2003. “Banking, Information and Financial Instability in Asia.” Journal of Post Keynesian Economics 25, no. 3: 493–513.
   Web of Science ®Google Scholar
• ———. 2004. “The Financial Fragility of the Emerging Countries and the Role of an International Lender of Last Resort.” International Journal of Political Economy 23, no. 4: 342–60.
   Google Scholar
• ———. 2013. “Instability and Crisis in Financial Complex Systems.” Review of Political Economy 25, no. 3: 496–51.
   Google Scholar
• Serrano, F. 2003. “From Static Gold to Floating Dollar.” Contributions to Political Economy 22: 87–102.
   Google Scholar
• Skidelsky, R. 2005. “Keynes, Globalization and the Bretton Woods Institutions in the Light of Changing Ideas About Market.” World Economics 6, no. 1 (January–March): 15–30.
   Google Scholar
• Soros, G. 2008. The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means. New York: Public Affairs.
   Google Scholar
• Triffin, R. 1960. Gold and the Dollar Crisis. New Haven, CT: Yale University Press.
   Google Scholar
• United Nations. 2009. Report of the Commission of Experts of the President of the United Nations General Assembly on Reforms of the International Monetary and Financial System. September 21.
   Google Scholar
• Zhou Xiaochuan. 2009. “Reform the international monetary system.” Essay by Governor of the People’s Bank of China. 23 March 2009.
   Google Scholar