An exchange rate system where countries stabilize their exchange rates around par values that they retain the right to change, commonly used under the Bretton Woods system in the 1950s and 1960s.
A detailed exploration of the Bretton Woods System, the international monetary framework established in 1944 that featured fixed exchange rates and positioned the US dollar as the world's primary reserve currency.
A comprehensive guide on the Dollar Standard, detailing its historical context, key events, and significance in global finance.
The International Monetary Fund (IMF) is a United Nations agency founded in 1946 to promote international monetary stability and cooperation. It supports international trade by encouraging stable exchange rates and providing financial support to countries facing balance-of-payments problems.
An in-depth look at the Keynes Plan proposed by John Maynard Keynes during the Bretton Woods negotiations in 1944, focusing on the creation of an international monetary unit, the 'bancor', and its implications.
The Smithsonian Agreement was an international accord reached in 1971 aimed at restoring a Bretton Woods-style system of pegged exchange rates. The agreement, named after the Smithsonian Institute in Washington, DC, where it was signed, sought to stabilize international currencies but lasted only a few months.
The Smithsonian Parities represent a significant moment in economic history, marking the 1971 agreement to establish new parities for major world currencies following the collapse of the Bretton Woods system.
The Bretton Woods Conference was a seminal meeting in 1944 that established a framework for international monetary cooperation and fixed exchange rates.
The Smithsonian Agreement of December 1971 marked the end of the fixed exchange rate system established at the Bretton Woods Conference, transitioning to floating exchange rates.
The Bretton Woods Agreement set up a collective international currency exchange system based on the U.S. dollar and gold, while establishing key financial institutions.
An in-depth exploration of the Nixon Shock, detailing the economic actions taken by President Richard Nixon in 1971, the subsequent collapse of the Bretton Woods system, and its far-reaching consequences on the global economy.
