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| | Bretton Woods system - Wikipedia, the free encyclopedia |
 | | The chief features of the Bretton Woods system were, first, an obligation for each country to adopt a monetary policy that maintained the exchange rate of its currency within a fixed value—plus or minus one percent—in terms of gold; and, secondly, the ability of the IMF to bridge temporary imbalances of payments. | | | Bretton Woods established a system of payments based on the dollar, in which all currencies were defined in relation to the dollar, itself convertible into gold, and above all, "as good as gold." The U.S. currency was now effectively the world currency, the standard to which every other currency was pegged. | | | The political basis for the Bretton Woods system are to be found in the confluence of several key conditions: the shared experiences of the Great Depression, the concentration of power in a small number of states, and the presence of a dominant power willing and able to assume a leadership role in global monetary affairs. |
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http://en.wikipedia.org/wiki/Bretton_Woods_system
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| | Bretton Woods entry |
| | In July 1944, in Bretton Woods, New Hampshire, representatives of 44 nations met to establish the standards by which international trade and finance would be conducted once the Second World War had ended. | | | For the developed countries, who continue to dominate trade and finance, the post Bretton Woods era has been a managed float within which currency prices are set primarily by market forces but central bank intervention still exists. | | | Just as in Bretton Woods, events made it clear that fundamental disequilibria existed and that changes in either macroeconomic policies or pegged rates were necessary. |
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http://www.econ.tcu.edu/harvey/5133/bretton.html
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| | Monetary |
| | The Bretton Woods system, established at the Bretton Woods Conference in 1944, created two bodies, one of which, the International Monetary Fund (IMF), was responsible for coordinating the world monetary system. | | | The third option, to devalue the currency, was not possible under the Bretton Woods System, since, as the anchor of the monetary system, the American dollar was the only currency that could not be devalued or revalued, even in a state of fundamental disequilibrium. | | | By allowing foreign nations to elude a balanced national account, the system may have contributed to the eventual failure of the Bretton Woods system. |
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http://www.multied.com/sixties/Monetary.html
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| | RGE - BW2: Are we back to a new stable Bretton Woods regime of global fixed exchange rates? |
| | The Bretton Woods system can only be sustained if the Asian central banks act as a cartel and both keep their existing reserves in dollars and invest the reserves obtained from ongoing current account surpluses in dollars. | | | Proponents of the Bretton Woods hypothesis also argue that this system is in the short-run interest of the U.S. - in spite of the squeeze that it puts on the tradable and import-competing labor-intensive manufacturing sector – since cheap financing from Asian central banks keeps U.S. asset values high and supports a consumption led expansion. | | | To proponents of the Bretton Woods two hypothesis though, these costs are trumped by the benefits of export led growth and a weak currency. |
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http://www.rgemonitor.com/blog/roubini/91168
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| | Bretton Woods |
| | The dollar was the numeraire of the system, i.e., it was the standard to which every other currency was pegged. | | | Moreover, the US was unable to eliminate ever-increasing trade deficits, which undermined the Bretton Woods system. | | | As the Bretton Woods system evolved, the reserves of most countries became a mixture of gold and dollars. |
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http://www.econ.iastate.edu/classes/econ355/choi/bre.htm
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| | The Bretton Woods system (from money) -- Encyclopædia Britannica |
| | Their plan, approved by more than 40 countries at the Bretton Woods Conference in July 1944, aimed to correct the perceived deficiencies of the interwar gold exchange standard. | | | More from Britannica on "The Bretton Woods system (from money)"... | | | Long before the dawn of recorded history wood was an essential raw material. |
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http://www.britannica.com/eb/article-247599
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| | The New Bretton Woods System: Framework For a New, Just World Economic Order, by Lyndon H. LaRouche, Jr. (Jan. 15, 2001) |
| | In a situation in which none of the existing, privately controlled central banking systems and international institutions are capable of generating credit, in any significant amounts, you must tear down and replace the present system of credit generation. | | | Virtually every one of what the leading international press has called "mainstream" economists, the economists on which most governments have credulously relied, are now exposed, with rare exceptions, as having issued a totally incompetent analysis and forecast of recent and present trends in the economy of the world as a whole. | | | Overall, the establishment of the so-called "floating-exchange-rate monetary system," as set into motion by U.S. President Nixon during August 1971, has been a world-wide catastrophe, especially in its effects upon the foreign-debt balances and internal economies of so-called developing nations. |
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http://www.larouchepub.com/lar/2001/2808_sudan_keynote.html
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| | Italian Senators Again Call for New Bretton Woods System |
| | Italian Senator Riccardo Pedrizzi, president of the Senate Finance Committee and member of the government coalition party National Alliance (Alleanza Nazionale), on July 2 issued a statement calling for a New Bretton Woods conference to organize a new world financial system. | | | Financial globalization is creating interdependencies and fallout from one system to another. | | | The candidate and economist shared the podium with Dr. Nino Galloni, an economist and director general of the Italian Labor Ministry, and Sen. Oskar Peterlini, initiator of another parliamentary motion calling for a New Bretton Woods conference. |
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http://www.larouchepub.com/other/2002/2928italy_nbw.html
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| | Bretton Woods Revisted: GATT (part 1 0f 4) |
| | In 1947, this agreement forged the creation of three international organizations: the General Agreement on Tariffs and Trade (GATT), the International Bank for Reconstruction and Development (IBRD) and the International Monetary Fund. | | | In other words, through the most favored nation concept, each GATT member agrees to give equal access to it markets, without discrimination, to all members (see Kenneth W. Dam, "The GATT: Law and the International Economic Organization," Chicago, University of Chicago Press, 1970). | | | The first article deals with the General Agreement on Tariffs and Trade, now known as the World Trade Organization (WTO). |
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http://www.suite101.com/article.cfm/political_economy/5861
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| | Lafontaine Urges New Bretton Woods System |
| | Former German Finance Minister Oskar Lafontaine called for a new Bretton Woods system, in the Swiss journal {Facts} in December. | | | Lafontaine wrote: ``The Europeanstates must develop a proposal for a new world financial architecture, a new Bretton Woods. | | | Today, Europe is stuck half-way in that process, having only a single currency and a single European Central Bank, whereas any in-depth economic coordination, as called for by French Finance Minister Laurent Fabius, is opposed by U.S. Treasury Secretary Larry Summers and Federal Reserve Chairman Alan Greenspan. |
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http://www.aboutsudan.com/issues/debt/lafontaine_new_bretton_woods.htm
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| | An Essay on the Revived Bretton Woods System |
| | The economic emergence of a fixed exchange rate periphery in Asia has reestablished the United States as the center country in the Bretton Woods international monetary system. | | | "The Revised Bretton Woods System," International Journal of Finance and Economics, 2004, v9(4,Oct), 307-313. | | | "The Revived Bretton Woods System: The Effects of Periphery Intervention and Reserve Management on Interest Rates & Exchange Rates in Center Countries," NBER Working Papers 10332, National Bureau of Economic Research, Inc. |
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http://ideas.repec.org/p/nbr/nberwo/9971.html
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| | United Nations Monetary and Financial Conference - Wikipedia, the free encyclopedia |
| | As a result of the conference, the Bretton Woods system of exchange rate management was set up, which remained in place until the early 1970s. | | | The United Nations Monetary and Financial Conference, commonly known as Bretton Woods conference, was a gathering of 730 delegates from all 45 Allied nations at the Mount Washington Hotel, situated in the resort town of Bretton Woods, New Hampshire. | | | The conference was held from 1 July to 22 July 1944, when the Agreements were signed to set up the International Bank for Reconstruction and Development and the International Monetary Fund, to regulate the international monetary and financial order after World War II. |
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http://en.wikipedia.org/wiki/Bretton_Woods_Conference
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| | Bretton Woods: Birth of a Monetary System |
| | Historical Context | Bretton Woods Conference | Ratification Debates | | | This selection was excerpted from Armand Van Dormael’s book Bretton Woods: Birth of a Monetary System, published in 1978. |
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http://www.imfsite.org/origins/confer.html
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| | The Avalon Project : The Bretton Woods Agreements |
| | (iv) To assist in the establishment of a multilateral system of payments in respect of current transactions between members and in the elimination of foreign exchange restrictions which hamper the growth of world trade. | | | DONE at Washington, in a single copy which shall remain deposited in the archives of the Government of the United States of America, which shall transmit certified copies to all governments whose names are set forth in Schedule A and to all governments whose membership is approved in accordance with Article II, Section 2. | | | The Avalon Project : The Bretton Woods Agreements |
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http://www.yale.edu/lawweb/avalon/decade/decad047.htm
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| | Country Studies - Austria: Bretton Woods system |
| | Other currencies were linked to the system according to their exchange rates with the United States dollar. | | | Established in 1944, the system aimed at stabilizing exchange rates by fixing the price of gold at US$35 per troy ounce. | | | The system was replaced by one of floating exchange rates in the early 1970s. |
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http://www.photoglobe.info/ebooks/austria/glossary_brettonwoods.html
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