Monetary problems of the international economy / edited by Robert A. Mundell and Alexander K. Swoboda

As part of the 75th Anniversary of The University of Chicago, a conference on international monetary problems was held in an attempt to resolve theoretical and practical issues currently impeding progress toward international monetary reform. The issues discussed included the appropriate mix of monetary, fiscal, and exchange rate policies, optimal speed of adjustment, distribution of seigniorage gains from monetary expansion, optimum currency areas, the price of gold, institutional arrangements, and international crises.

"Since the conference we have witnessed the creation of the SDR's and also the devaluation of sterling in November, 1967, the introduction of the two-tier system in March, 1968, and the franc-mark crisis. It would be naive to expect that disturbances of this latter kind are events of the past. Their increased frequency is itself a call for a reconsideration of the present international monetary arrangements, and it is hoped that this volume will contribute to a greater understanding of the issues involved." -from the editors' Foreword.