Strained Relations : US Foreign-Exchange Operations and Monetary Policy in the Twentieth Century / / Michael D. Bordo, Owen F. Humpage, Anna J. Schwartz

• Autore: Bordo Michael D.
• Pubblicazione: Chicago : , : University of Chicago Press, , [2015]; ©2015
• Descrizione fisica: 1 online resource (x, 442 pages) : illustrations
• Disciplina: 332.4509730904
• Soggetto topico: Foreign exchange - Law and legislation - United States - History - 20th century; Foreign exchange market - History - 20th century
• Soggetto geografico: United States Economic policy 20th century
• Persona (resp. second.): HumpageOwen F.; SchwartzAnna J.
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references and index.
• Nota di contenuto: Frontmatter -- Contents -- Preface -- 1. On the Evolution of US Foreign- Exchange- Market Intervention: Thesis, Theory, and Institutions -- 2. Exchange Market Policy in the United States: Precedents and Antecedents -- 3. Introducing the Exchange Stabilization Fund, 1934- 1961 -- 4. US Intervention during the Bretton Woods Era, 1962- 1973 -- 5. US Intervention and the Early Dollar Float, 1973- 1981 -- 6. US Foreign- Exchange- Market Intervention during the Volcker- Greenspan Era, 1981- 1997 -- 7. Lessons from the Evolution of US Monetary and Intervention Policies -- Epilogue: Foreign- Exchange- Market Operations in the Twenty- First Century -- Appendix 1: Summaries of Bank of England Documents -- Appendix 2: Empirical Method for Assessing Success Counts -- Notes -- References -- Index
• Sommario/riassunto: During the twentieth century, foreign-exchange intervention was sometimes used in an attempt to solve the fundamental trilemma of international finance, which holds that countries cannot simultaneously pursue independent monetary policies, stabilize their exchange rates, and benefit from free cross-border financial flows. Drawing on a trove of previously confidential data, Strained Relations reveals the evolution of US policy regarding currency market intervention, and its interaction with monetary policy. The authors consider how foreign-exchange intervention was affected by changing economic and institutional circumstances-most notably the abandonment of the international gold standard-and how political and bureaucratic factors affected this aspect of public policy.
• Titolo autorizzato: Strained Relations
• ISBN: 9780226051512; 022605151X
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910967715603321
• Lo trovi qui: Univ. Federico II
• Serie: National Bureau of Economic Research monograph.