International Monetary Policy after the Euro

International Monetary Policy after the Euro

Edited by Robert A. Mundell, Paul J. Zak and Derek Schaeffer

This fascinating book, a dialogue by leading economists, offers an extensive review of the impact of the introduction of the euro on the international monetary system.

Chapter 2: Issues facing the global economy

Robert H. Evans

Subjects: economics and finance, money and banking


Introduced by Robert H. Evans ROBERT EVANS: Welcome to the 16th edition of the Bologna–Claremont Monetary Conference. The conference started back in 1967, when Seagrove Haynes was the director of the [John Hopkins University Bologna] Center and [Claremont Graduate University economist] Randall Hinshaw was a visiting professor. The very first conference, I believe, focused on gold and the role of gold in the international monetary system. Today, your reflections will emphasize the euro, the dollar and the future of the international monetary system. I’m sure the discussions that will take place around this table will be as stimulating as those of the many conferences that have preceded it. As you know, Bob Mundell has coordinated the program and I want to thank him very much for all his efforts. The idea is to have a free-flowing dialogue amongst participants. The principal change, because change does occur in the Bologna– Claremont Conferences, means that this year we will have two lectures rather than one: the Lord Robbins Memorial Lecture and the Randall Hinshaw Memorial Lecture. As I look around the table, I see a good number of people whom I would call the stalwarts of this conference, but I also see a good number of new faces, which is excellent. We need to always bring in new ideas and new participants. We miss a few of our traditional participants, some Nobel Prize winners who have participated in past conferences. Age, a few operations, and things of the sort...

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