Reforming the international monetary system: a stock-flow-consistent approach

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The emergence and persistence of large trade imbalances as well as the volatility of financial flows among countries have been attributed, at least in part, to the inadequacy of the current international monetary system after the breakdown of Bretton Woods. From a different perspective, the current...

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Autores principales: Valdecantos, Sebastián, Zezza, Gennaro
Formato: Artículo publishedVersion
Lenguaje:Inglés
Publicado: Taylor & Francis Group 2015
Materias:
Sistema Monetario Internacional
Modelo de Flujos y Stocks Consistentes
Acceso en línea:https://nulan.mdp.edu.ar/id/eprint/3026/
https://nulan.mdp.edu.ar/id/eprint/3026/1/valdecantos-zezza-2015.pdf
Aporte de:
Nulan - Fac.Cs.Económicas (UNMdP) de Universidad Nacional de Mar del Plata (UNMdP)
id I29-R135-3026
record_format dspace
institution Universidad Nacional de Mar del Plata (UNMdP)
institution_str I-29
repository_str R-135
collection Nulan - Fac.Cs.Económicas (UNMdP)
language Inglés
orig_language_str_mv eng
topic Sistema Monetario Internacional
Modelo de Flujos y Stocks Consistentes
spellingShingle Sistema Monetario Internacional
Modelo de Flujos y Stocks Consistentes
Valdecantos, Sebastián
Zezza, Gennaro
Reforming the international monetary system: a stock-flow-consistent approach
topic_facet Sistema Monetario Internacional
Modelo de Flujos y Stocks Consistentes
description The emergence and persistence of large trade imbalances as well as the volatility of financial flows among countries have been attributed, at least in part, to the inadequacy of the current international monetary system after the breakdown of Bretton Woods. From a different perspective, the current eurozone crisis is also the result, in our view, of a flawed institutional setting. These problems call for reforms to mitigate or avoid the recessionary bias that is the outcome of current systems, as Keynes predicted in the discussion preceding the Bretton Woods agreements. In this paper we briefly review the evidence on international imbalances, and survey the rapidly growing literature on the subject. We introduce a set of models based on the stock-flow-consistent approach pioneered by Godley (1999) and Lavoie and Godley (2003). We discuss how to use these models to explore potential reform of the international monetary system.
format Artículo
Artículo
publishedVersion
author Valdecantos, Sebastián
Zezza, Gennaro
author_facet Valdecantos, Sebastián
Zezza, Gennaro
author_sort Valdecantos, Sebastián
title Reforming the international monetary system: a stock-flow-consistent approach
title_short Reforming the international monetary system: a stock-flow-consistent approach
title_full Reforming the international monetary system: a stock-flow-consistent approach
title_fullStr Reforming the international monetary system: a stock-flow-consistent approach
title_full_unstemmed Reforming the international monetary system: a stock-flow-consistent approach
title_sort reforming the international monetary system: a stock-flow-consistent approach
publisher Taylor & Francis Group
publishDate 2015
url https://nulan.mdp.edu.ar/id/eprint/3026/
https://nulan.mdp.edu.ar/id/eprint/3026/1/valdecantos-zezza-2015.pdf
work_keys_str_mv AT valdecantossebastian reformingtheinternationalmonetarysystemastockflowconsistentapproach
AT zezzagennaro reformingtheinternationalmonetarysystemastockflowconsistentapproach
bdutipo_str Repositorios
_version_ 1764820521564766210

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