Cite JOURNAL ARTICLE
Zur Theorie und Realität internationaler Währungssysteme
Ein modellorientierter Überblick
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 117 (1997), Iss. 3 : pp. 443–472
The analysis of international monetary relationships is based on a simple monetaristic two- or three-country-model which can be adjusted to the investigated monetary regimes (Gold Standard, Gold Exchange Standard, Gold Dollar Standard, Flexible Exchange Rates and Blockfloating) by modifying the money supply side. Comparing theory and evidence the models bring about a contribution to the experience made in monetary policy, particularly with respect to stability, convergence and volatility of prices. Furthermore they shed light on the factors that contributed to a collapse of monetary systems.