For a New System of International Payments

27 Pages Posted: 29 Aug 2009

See all articles by Alvaro Cencini

Alvaro Cencini

University of Lugano; Research Laboratory of Monetary Economics (RME Lab), CSB

Date Written: August 29, 2009

Abstract

World-wide economic turmoil and international uncertainty are threatening the development of our economies, and experts increasingly evoke the ghost of recession. The aim of this paper is to show that the present system of international payments is in a disarray, and that a reform is needed to replace it with a system respectful of the principles of money and banking. The reform advocated here calls for the institution of a world central bank designed to provide monetary stability without forcing countries to give up monetary sovereignty, and without the need for any kind of monetary policy intervention.

Keywords: Bank regulation, International monetary operations, International monetary economics

JEL Classification: B59, E42, F02, F33

Suggested Citation

Cencini, Alvaro, For a New System of International Payments (August 29, 2009). Available at SSRN: https://ssrn.com/abstract=1463938 or http://dx.doi.org/10.2139/ssrn.1463938

Alvaro Cencini (Contact Author)

University of Lugano ( email )

Via Giuseppe Buffi 13
Lugano, 6904
Switzerland

HOME PAGE: http://www.quantum-macroeconomics.info/

Research Laboratory of Monetary Economics (RME Lab), CSB ( email )

Via E. Morosini 1
Vezia, Ticino CH-6943
Switzerland

HOME PAGE: http://www.csbancari.ch/pubblicazioni/RMElab/presentation.htm

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