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Article: The Bretton Woods international monetary system: a lesson for today.
- Article from:
- NBER Reporter
- Article date:
- December 22, 1992
- Author:
CopyrightCOPYRIGHT 1992 National Bureau of Economic Research, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In fall 1991, the NBER held a conference--"A Retrospective on the Bretton Woods International Monetary System"--at the Mount Washington Hotel in Bretton Woods, New Hampshire. The historic International Monetary Conference of July 1944, creating the Bretton Woods System of adjustable pegged exchange rates, the International Monetary Fund (IMF), and the World Bank, was held at this hotel. The motivation for the NBER conference, organized by Barry J. Eichengreen and me, was to reexamine the Bretton Woods System 20 years after Richard Nixon closed the gold window in August 1971, effectively ending the world's last experiment with pegged exchange rates.
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