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Handbook of Key Global Financial Markets, Institutions, and Infrastructure by Gerard Caprio

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Chapter 3

Bretton Woods and Monetary Regimes

S.C. Knight

American University, Washington, DC, USA

Outline

Introduction

Formal monetary unions, in which two or more countries agree to give up their national currencies for a single, shared currency, are rare events in the history of international monetary cooperation. The Eurozone, which is analyzed in detail elsewhere in this volume, is the most important modern-day example. There are other types of monetary regimes, ranging in the degree to which countries surrender ...

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