[Essays in international finance No. 190 July 1993] Paul Krugman - What do we need to know about the international monetary system_ (

[Essays in international finance No. 190 July 1993] Paul Krugman - What do we need to know about the international monetary system_ (

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1、ESSAYSININTERNATIONALFINANCEESSAYSININTERNATIONALFINANCEarepublishedbytheInternationalFinanceSectionoftheDepartmentofEconomicsofPrincetonUniversity.TheSectionsponsorsthisseriesofpublications,buttheopinionsexpressedarethoseoftheauthors.TheSectionwelcomesthesubmis

2、sionofmanuscriptsforpublicationinthisanditsotherseries.PleaseseetheNoticetoContributorsatthebackofthisEssay.TheauthorofthisEssay,PaulKrugman,isClassof1941ProfessorofEconomicsattheMassachusettsInstituteofTechnology.HispublicationsincludeRethinkingInterna-tionalTr

3、ade(1990),TheAgeofDiminishedExpectations(1990),andCurrenciesandCrises(1992).ThisEssaywaspresentedastheFrankD.GrahamMemorialLectureonApril16,1993,andconcludedaconferenceontheinterna-tionalmonetarysystemsponsoredbytheInternationalFinanceSectiontocelebratethefiftie

4、thanniversaryofEssaysinInternationalFinance.AcompletelistofGrahamMemorialLecturersisgivenattheendofthisvolume.PETERB.KENEN,DirectorInternationalFinanceSectionINTERNATIONALFINANCESECTIONEDITORIALSTAFFPeterB.Kenen,DirectorMargaretB.Riccardi,EditorLillianSpais,Edit

5、orialAideLalithaH.Chandra,SubscriptionsandOrdersLibraryofCongressCataloging-in-PublicationDataKrugman,Paul.Whatdoweneedtoknowabouttheinternationalmonetarysystem?/PaulKrugman.p.cm.(Essaysininternationalfinance,ISSN0071-142X;no.190)Includesbibliographicalreference

6、s.ISBN0-88165-097-8(pbk.):$8.001.Internationalfinance.2.Foreignexchange.3.Monetaryunions.I.Title.II.Series.HG3881.K7781993332′.042dc2093-9099CIPCopyright©1993byInternationalFinanceSection,DepartmentofEconomics,PrincetonUniversity.Allrightsreserved.Exceptforbrief

7、quotationsembodiedincriticalarticlesandreviews,nopartofthispublicationmaybereproducedinanyformorbyanymeans,includingphotocopy,withoutwrittenpermissionfromthepublisher.PrintedintheUnitedStatesofAmericabyPrincetonUniversityPrintingServicesatPrinceton,NewJerseyInte

8、rnationalStandardSerialNumber:0071-142XInternationalStandardBookNumber:0-88165-097-8LibraryofCongressCatalogCardNumber:93-9099CONTENTS1INTRODUCTION12SILVERLININGSINAE

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