International Monetary Regimes

11 Pages Posted: 12 Nov 2014

See all articles by Charles Goodhart

Charles Goodhart

London School of Economics & Political Science (LSE) - Financial Markets Group

Dimitrios P. Tsomocos

University of Oxford - Said Business School and St. Edmund Hall

Abstract

International monetary relationships have been under strain in recent years. This is largely because adjustment mechanisms are asymmetric; the IMF has no means of putting pressure on countries with large current account surpluses to adjust. But such countries' accompanying capital account outflows have often had disappointing returns.   So, we propose a method to impose symmetric constraints on the net capital flows both of deficit and surplus countries.

Comments on this paper can be found at: http://ssrn.com/abstract=2523517.

Suggested Citation

Goodhart, Charles A.E. and Tsomocos, Dimitrios P., International Monetary Regimes. Capitalism and Society, Vol. 9, No. 2, Article 2, 2014. Available at SSRN: https://ssrn.com/abstract=2523492

Charles A.E. Goodhart (Contact Author)

London School of Economics & Political Science (LSE) - Financial Markets Group ( email )

Houghton Street
London WC2A 2AE
United Kingdom
0207 955 7555 (Phone)
0207 242 1006 (Fax)

Dimitrios P. Tsomocos

University of Oxford - Said Business School and St. Edmund Hall ( email )

Park End Street
Oxford, OX1 1HP
Great Britain
+44 1865 288 932 (Phone)
+44 1865 288 805 (Fax)

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