Proceedings of the 2018 4th Annual International Conference on Modern Education and Social Science (MESS 2018)

The Current International Monetary System and Global Imbalances

Authors
Ren-Gui ZHANG, Hao-Wen FANG
Corresponding Author
Ren-Gui ZHANG
Available Online April 2018.
DOI
https://doi.org/10.2991/mess-18.2018.13How to use a DOI?
Keywords
International monetary system, Reserve currency, Current account, Global imbalances
Abstract
This paper examines whether the international currency system has contributed to global imbalances. We present an analytical framework concerning two sovereign currencies as a reserve currency system. We find that the current international monetary system is an important reason for global economic imbalances. Within the current international monetary system, it is difficult to solve the problem of reserve currency countries’ current account deficits and global imbalances by adjusting the relative price, interest rates and exchange rates. Moreover, our model shows that the current account surplus of a reserve currency country could alleviate the current account deficit of the other one.
Open Access
This is an open access article distributed under the CC BY-NC license.

Download article (PDF)

Proceedings
2018 4th Annual International Conference on Modern Education and Social Science (MESS 2018)
Part of series
Advances in Social Science, Education and Humanities Research
Publication Date
April 2018
ISBN
978-94-6252-526-9
ISSN
2352-5398
DOI
https://doi.org/10.2991/mess-18.2018.13How to use a DOI?
Open Access
This is an open access article distributed under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Ren-Gui ZHANG
AU  - Hao-Wen FANG
PY  - 2018/04
DA  - 2018/04
TI  - The Current International Monetary System and Global Imbalances
BT  - 2018 4th Annual International Conference on Modern Education and Social Science (MESS 2018)
PB  - Atlantis Press
SN  - 2352-5398
UR  - https://doi.org/10.2991/mess-18.2018.13
DO  - https://doi.org/10.2991/mess-18.2018.13
ID  - ZHANG2018/04
ER  -