PPT-1 The International Monetary System: The Bretton Woods System:

19451973 Beyza CINGILLI GUCLU 2 In July 1944 to design an international monetary system administered by an international organization delegates from 44 countries met in a small town named after the conference Bretton Woods New Hampshire In the conference the countries drafted and signed the Articles of Agreement of the International Monetary Fund IMF thus the Bretton Woods system was created. The opinions expressed are solely those of the presenters and do not reflect the opinions of the Federal Reserve Bank of Dallas or the Federal Reserve System. . Principles of a Gold Standard. The unit of currency is backed or fixed to a certain amount of gold (or the price of a unit of gold is set).. of . exchange. . rate. . systems. . Lecture. . 8. 1. Learning goals. Features. and . Mechanism of . G. old . S. tandard. Features. and . Mechanism of . D. ollar. . S. tandard. The . C. redit. Monetary System. Relationship between monetary system and foreign exchange rates. Historical development. Fixed vs floating exchange rates. Role of the IMF and World Bank. Implications for managers. International Monetary System. Britain and the Age of Imperialism. Established a . liberal international economic order . (LIEO) through its “hegemonic” power (Charles . Kindleberger. ).. Britain and the Age of Imperialism. Established a . 1945-1973. Beyza CINGILLI GUCLU. 2. - In July 1944, to design an international monetary system administered by an international organization, delegates from 44 countries met in a small town named after the conference “Bretton Woods”, New Hampshire In the conference, the countries drafted and signed the Articles of Agreement of the International Monetary Fund (IMF), thus the Bretton Woods system was created.. This paper draws heavily on Debelle and Plumb (2006). The authors would also like to thank Patrick D’Arcy, Crystal Ossolinski and Sophia Davis for their assistance. Deputy Governor, Reserve B Monetary System. Relationship between monetary system and foreign exchange rates. Historical development. Fixed vs floating exchange rates. Role of the IMF and World Bank. Implications for managers. International Monetary System. From . Bretton. Woods to the new global economy. The global economy before 1914. Free Trade and protectionism. The classical economists and free trade: from Smith to Ricardo.. The growth of . world trade. . 10e. By Charles W.L. Hill. Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.. Chapter 11. The International Monetary System. Chapter . 8. . International . Monetary System. Fixed vs. . Floating. 2. Chapter Outline. Goals of macroeconomic policies – internal and external balance. Gold standard era: 1870-1914. International monetary system during interwar period: 1918-1939 . The opinions expressed are solely those of the presenters and do not reflect the opinions of the Federal Reserve Bank of Dallas or the Federal Reserve System. . Principles of a Gold Standard. The unit of currency is backed or fixed to a certain amount of gold (or the price of a unit of gold is set).. Brief History. Representatives of leading nations in . Bretton. Woods, New Hampshire 1944. Nations attempted to revive gold standard after World War I. Gold standard was adopted by US in 1919 (1879). in International . Finance. Preview. Goals of macroeconomic policies. Gold standard. Interwar years. Bretton Woods system. Collapse of the Bretton Woods system. Macroeconomic Goals. Macroeconomic. . Dr. Patrick Newman. Mises Institute Supporters Summit: The End of the Dollar Era. Bretton Woods: The System. Dollar redeemable internationally ($35 = 1 oz), other currencies redeemable in dollars. International Monetary Fund: government funded, would loan dollars for currency stabilization.