TY  - BOOK
AU  - Mohan,Rakesh
AU  - Kapur,Muneesh
AU  - Mohan,Rakesh
AU  - Patra,Michael Debabrata
TI  - The International Monetary System: Where Are We and Where Do We Need to Go? 
T2  - IMF Working Papers; Working Paper
SN  - 147551414X :
SN  - 1018-5941
PY  - 2013///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Capital Account Liberalization
KW  - imf
KW  - Capital Inflows
KW  - Currency Internationalization
KW  - International Institutional Arrangements
KW  - International Monetary Arrangements and Institutions
KW  - International Polic
KW  - China, People's Republic of
KW  - India
KW  - United States
N2  - The North Atlantic financial crisis of 2008-2009 has spurred renewed interest in reforming the international monetary system, which has been malfunctioning in many aspects. Large and volatile capital flows have promoted greater volatility in financial markets, leading to recurrent financial crises. The renewed focus on the broader role of the central banks, away from narrow price stability monetary policy frameworks, is necessary to ensure domestic macroeconomic and financial stability. Since international monetary cooperation might be difficult, though desirable, central banks in major advanced economies, going forward, need to internalize the implications of their monetary policies for the rest of the global economy to reduce the incidence of financial crises
UR  - http://elibrary.imf.org/view/IMF001/20879-9781475514148/20879-9781475514148/20879-9781475514148.xml
UR  - http://www.imfbookstore.org/IMFORG/9781475514148
ER  -