Dynamic Stability and Changes in International Monetary Regimes

Bibliographic Details
Main Author: Aglietta, Michel
Publication Date: 1992
Format: Article
Language: por
Source: Revista de Economia Política
Download full: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1414
Summary: In this paper the author discusses the dynamics of the international monetaryregimes. In opposition to mainstream economics, these regimes are seen as irreversible historicalinstitutions characterized by a structural instability. They are defined by the degree ofexchange rate rigidity, by the mobility of capitals, and by weight of internal objectives in thepreference function of governments. Their dynamics is based on an irreversible sequence definedby the increasing degradation of macroeconomic adjustments, leading to the accumulationof tensions and to a structural instability, as the world economy changes, and finallyto questioning the founding principles of the international monetary regime. JEL Classification: E58; E42; F33; F36.
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spelling Dynamic Stability and Changes in International Monetary RegimesEstabilidade Dinâmica e Transformações dos Regimes Monetários InternacionaisMonetary regimemonetary policyeconomic integrationeuroRegime monetáriopolítica monetáriaintegração econômicaeuroIn this paper the author discusses the dynamics of the international monetaryregimes. In opposition to mainstream economics, these regimes are seen as irreversible historicalinstitutions characterized by a structural instability. They are defined by the degree ofexchange rate rigidity, by the mobility of capitals, and by weight of internal objectives in thepreference function of governments. Their dynamics is based on an irreversible sequence definedby the increasing degradation of macroeconomic adjustments, leading to the accumulationof tensions and to a structural instability, as the world economy changes, and finallyto questioning the founding principles of the international monetary regime. JEL Classification: E58; E42; F33; F36.Neste artigo, o autor discute a dinâmica dos regimes monetários internacionais.Em oposição à economia convencional, esses regimes são vistos como instituições históricasirreversíveis, caracterizadas por uma instabilidade estrutural. Eles são definidos pelograu de rigidez cambial, pela mobilidade dos capitais e pelo peso dos objetivos internos nafunção de preferência dos governos. Sua dinâmica é baseada em uma sequência irreversíveldefinida pela crescente degradação dos ajustes macroeconômicos, levando ao acúmulo detensões e a uma instabilidade estrutural, à medida que a economia mundial muda, e finalmentea questionar os princípios fundadores do regime monetário internacional. Classificação JEL: E58; E42; F33; F36.Center of Political Economy1992-04-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/141410.1590/0101-31571992-0666Brazilian Journal of Political Economy; Vol. 12 No. 2 (1992): Apr-Jun / 1992; 200-222Brazilian Journal of Political Economy; v. 12 n. 2 (1992): Apr-Jun / 1992; 200-2221809-45380101-3157reponame:Revista de Economia Políticainstname:EDITORA 34instacron:EDITORA_34porhttps://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1414/1400Copyright (c) 1992 Brazilian Journal of Political Economyinfo:eu-repo/semantics/openAccessAglietta, Michel2020-10-06T19:38:26Zoai:ojs2.centrodeeconomiapolitica.org:article/1414Revistahttps://centrodeeconomiapolitica.org.br/repojs/index.php/journalONGhttps://centrodeeconomiapolitica.org.br/repojs/index.php/journal/oai||cecilia.heise@bjpe.org.br1809-45380101-3157opendoar:2020-10-06T19:38:26Revista de Economia Política - EDITORA 34false
dc.title.none.fl_str_mv Dynamic Stability and Changes in International Monetary Regimes
Estabilidade Dinâmica e Transformações dos Regimes Monetários Internacionais
title Dynamic Stability and Changes in International Monetary Regimes
spellingShingle Dynamic Stability and Changes in International Monetary Regimes
Aglietta, Michel
Monetary regime
monetary policy
economic integration
euro
Regime monetário
política monetária
integração econômica
euro
title_short Dynamic Stability and Changes in International Monetary Regimes
title_full Dynamic Stability and Changes in International Monetary Regimes
title_fullStr Dynamic Stability and Changes in International Monetary Regimes
title_full_unstemmed Dynamic Stability and Changes in International Monetary Regimes
title_sort Dynamic Stability and Changes in International Monetary Regimes
author Aglietta, Michel
author_facet Aglietta, Michel
author_role author
dc.contributor.author.fl_str_mv Aglietta, Michel
dc.subject.por.fl_str_mv Monetary regime
monetary policy
economic integration
euro
Regime monetário
política monetária
integração econômica
euro
topic Monetary regime
monetary policy
economic integration
euro
Regime monetário
política monetária
integração econômica
euro
description In this paper the author discusses the dynamics of the international monetaryregimes. In opposition to mainstream economics, these regimes are seen as irreversible historicalinstitutions characterized by a structural instability. They are defined by the degree ofexchange rate rigidity, by the mobility of capitals, and by weight of internal objectives in thepreference function of governments. Their dynamics is based on an irreversible sequence definedby the increasing degradation of macroeconomic adjustments, leading to the accumulationof tensions and to a structural instability, as the world economy changes, and finallyto questioning the founding principles of the international monetary regime. JEL Classification: E58; E42; F33; F36.
publishDate 1992
dc.date.none.fl_str_mv 1992-04-01
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1414
10.1590/0101-31571992-0666
url https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1414
identifier_str_mv 10.1590/0101-31571992-0666
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1414/1400
dc.rights.driver.fl_str_mv Copyright (c) 1992 Brazilian Journal of Political Economy
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 1992 Brazilian Journal of Political Economy
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Center of Political Economy
publisher.none.fl_str_mv Center of Political Economy
dc.source.none.fl_str_mv Brazilian Journal of Political Economy; Vol. 12 No. 2 (1992): Apr-Jun / 1992; 200-222
Brazilian Journal of Political Economy; v. 12 n. 2 (1992): Apr-Jun / 1992; 200-222
1809-4538
0101-3157
reponame:Revista de Economia Política
instname:EDITORA 34
instacron:EDITORA_34
instname_str EDITORA 34
instacron_str EDITORA_34
institution EDITORA_34
reponame_str Revista de Economia Política
collection Revista de Economia Política
repository.name.fl_str_mv Revista de Economia Política - EDITORA 34
repository.mail.fl_str_mv ||cecilia.heise@bjpe.org.br
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