Credibility and the International Monetary Regime A Historical Perspective

'This collection of state-of-the-art studies, combining deep historical knowledge with modern statistical methods, sheds important new light on long-standing controversies concerning the evolution of the international monetary system.' Barry Eichengreen, University of California, Berkeley 'An excellent book and, when policy credibility comes once more on the front stage, a timely one.' Marc Flandreau, Graduate Institute of International and Development Studies, Geneva 'This book constitutes a rigorous and compelling investigation of how credibility in fixed exchange rate systems can be tested and compared. It is a major contribution both to financial history and to policy debates about the circumstances in which pegged exchange rate systems can be sustained.' Harold James, Princeton University 'Trying to understand monetary policy without an appreciation of credibility is like watching Hamlet without the Prince of Denmark. This volume provides a one-stop shop for a balanced and comprehensive set of studies on monetary credibility; highly recommended.' Andrew K. Rose, Haas School of Business, University of California