{
  "title": "Improving the International Monetary System: Constraints and Possibilities",
  "publication": "Occasional Papers, January 27, 1995",
  "sourceUrl": "https://www.imf.org/en/publications/occasional-papers/issues/2016/12/30/improving-the-international-monetary-system-constraints-and-possibilities-438",
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  "summary": "This study addresses major policy issues associated with the future of the international monetary system. It focuses on whether there is a need for fundamental reform of this system, defined as systematic and sustained effort on the part of the three major industrial countries (United States, Japan,",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Study focus: major policy issues associated with the future of the international monetary system.\n- Central question: whether there is a need for fundamental reform of the system, defined as systematic and sustained effort on the part of the three major industrial countries (United States, Japan, and Germany) to maintain their exchange rates within agreed ranges.\n- Additional focus: discussion of less far-reaching reforms that could strengthen and improve the system."
    },
    {
      "heading": "Key findings and analysis (as stated)",
      "content": "- The report examines the need for fundamental reform characterized by coordinated, sustained exchange-rate management by the United States, Japan, and Germany.\n- It evaluates alternatives consisting of less far-reaching reforms intended to strengthen and improve the international monetary system."
    },
    {
      "heading": "Policy considerations and implications (as stated)",
      "content": "- Fundamental reform option: systematic and sustained coordination among the three major industrial countries to maintain exchange rates within agreed ranges.\n- Alternative policy path: pursue less far-reaching reforms to improve system performance without full-scale coordinated exchange-rate management by the three major industrial countries."
    },
    {
      "heading": "Subject classification and keywords",
      "content": "- Subject: Exchange rate arrangements, Exchange rates, Financial markets, Foreign exchange, International capital markets, International monetary system, Managed exchange rates, Money\n- Keywords: country, Europe, exchange rate, Exchange rate arrangements, Exchange rates, Global, IMF surveillance, International capital markets, International monetary system, Managed exchange rates, market, market participant, Middle East, nominal exchange rate, objectives vis-à-vis, OP, pound sterling, sterilized exchange market intervention, U.S. dollar, Western Hemisphere\n\nImproving the International Monetary System: Constraints and Possibilities, International Monetary Fund.\n\n---\n\n\nSource: https://www.imf.org/en/publications/occasional-papers/issues/2016/12/30/improving-the-international-monetary-system-constraints-and-possibilities-438"
    }
  ],
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    "Authors: Morris Goldstein, Donald J Mathieson, Tamim Bayoumi, Michael Mussa, Peter B. Clark",
    "Published: January 27, 1995",
    "Series: Occasional Papers",
    "DOI: https://doi.org/10.5089/9781557754448.084",
    "Study focus: major policy issues associated with the future of the international monetary system.",
    "Central question: whether there is a need for fundamental reform of the system, defined as systematic and sustained effort on the part of the three major industrial countries (United States, Japan, and Germany) to maintain their exchange rates within agreed ranges.",
    "Additional focus: discussion of less far-reaching reforms that could strengthen and improve the system.",
    "The report examines the need for fundamental reform characterized by coordinated, sustained exchange-rate management by the United States, Japan, and Germany.",
    "It evaluates alternatives consisting of less far-reaching reforms intended to strengthen and improve the international monetary system.",
    "Fundamental reform option: systematic and sustained coordination among the three major industrial countries to maintain exchange rates within agreed ranges.",
    "Alternative policy path: pursue less far-reaching reforms to improve system performance without full-scale coordinated exchange-rate management by the three major industrial countries.",
    "Subject: Exchange rate arrangements, Exchange rates, Financial markets, Foreign exchange, International capital markets, International monetary system, Managed exchange rates, Money",
    "Keywords: country, Europe, exchange rate, Exchange rate arrangements, Exchange rates, Global, IMF surveillance, International capital markets, International monetary system, Managed exchange rates, market, market participant, Middle East, nominal exchange rate, objectives vis-à-vis, OP, pound sterling, sterilized exchange market intervention, U.S. dollar, Western Hemisphere"
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