One world, one currency: Exploring the issues

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One world, one currency: Exploring the issues

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Title: One world, one currency: Exploring the issues
Author: Starr, Martha A.
Abstract: Along with globalization of trade and finance has come a certain globalization of money. Some countries have adopted monetary unions and currency boards; others increasingly use international currencies in place of national monies. This paper explores the idea, proposed by Keynes in 1944, of a global money –- framed here as a voluntary, representative arrangement based on accepted principles for optimal conduct of monetary policy. It is argued that, if the current pace of economic and financial integration continues, a global money may emerge that is better adapted to internationalization of production and exchange -- although such a change may be a long time in coming.
Description: Working Paper # 2004-01. 29 pages.
URI: http://hdl.handle.net/1961/4921
Date: 2004-04


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