Two Views of the International Monetary System

Barry J. Eichengreen

15 citations0/0 files storedIntereconomics

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Global Financial Crisis and Policies International Relations and Foreign Policy Economic Theory and Policy

Abstract

Distinguishing between two different schools of thought that are named after two different universities, Harvard and Berkeley, the article looks at the evolution, past and future, of the international monetary system. While the empirical view holds that the system will remain unipolar and dollar-based, the opposing view uses history to contend that it may potenially evolve away from the dollar into a multipolar system.

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2012Stories of the Twentieth Century for the Twenty-First 2011Exorbitant privilege: the rise and fall of the dollar and the future of the International Monetary System 1984Exchange Rate Theory and Practice 2015The International Price System 2020Banking, Trade, and the Making of a Dominant Currency 2016A Model of the International Monetary System 1984The International Role of the Dollar: Theory and Prospect 2009The rise and fall of the dollar (or when did the dollar replace sterling as the leading reserve currency?)

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