International and European Monetary Systems

This book examines a range of issues related to the current and future roles of international and European monetary systems. Among the topics covered are the relationship of each system to the US dollar and its fluctuations vis-a-vis the Japanese Yen and German Deutschmark; the effect of fiscal policies on monetary systems; the role of the European currency unit; exchange rate management and international coordination; the theory behind, and policy implications of, over-and-under-valued currencies and the prospects for future currency unification and currency competition.