EMIL-MARIA CLAASSEN is Professor of Monetary Economics and International Economics at the University of Paris, Dauphine, and has held academic positions at the European University Institute, Florence, and at several other universities in Europe and the United States. His numerous previous works include three edited works on international economics: Stabilization Policies in Interdependent Economies, Recent Issues in International Monetary Economics, and Recent Issues in the Theory of Flexible Exchange Rates.

• Introduction The International Monetary System Target Zones and Monetary Stability Over- and Undervalued Currencies: Theory, Measurement, and Policy Implications Exchange Rate Management and International Coordination The Role of the SDRs in the International Monetary System Exchange Rate Regimes for LDCs The European Monetary System PPP and the Peso Problem: Exchange Rates in the EMS Fiscal Policies in the EMS--A Strategic Analysis Causes of the Development of the Private ECU and the Behavior of its Interest Rates Currency Unification, Currency Competition, and the Private ECU: Second Thoughts Bibliography Indexes

EMIL-MARIA CLAASSEN is Professor of Monetary Economics and International Economics at the University of Paris, Dauphine, and has held academic positions at the European University Institute, Florence, and at several other universities in Europe and the United States. His numerous previous works include three edited works on international economics: Stabilization Policies in Interdependent Economies, Recent Issues in International Monetary Economics, and Recent Issues in the Theory of Flexible Exchange Rates.

• Introduction The International Monetary System Target Zones and Monetary Stability Over- and Undervalued Currencies: Theory, Measurement, and Policy Implications Exchange Rate Management and International Coordination The Role of the SDRs in the International Monetary System Exchange Rate Regimes for LDCs The European Monetary System PPP and the Peso Problem: Exchange Rates in the EMS Fiscal Policies in the EMS--A Strategic Analysis Causes of the Development of the Private ECU and the Behavior of its Interest Rates Currency Unification, Currency Competition, and the Private ECU: Second Thoughts Bibliography Indexes

EMIL-MARIA CLAASSEN is Professor of Monetary Economics and International Economics at the University of Paris, Dauphine, and has held academic positions at the European University Institute, Florence, and at several other universities in Europe and the United States. His numerous previous works include three edited works on international economics: Stabilization Policies in Interdependent Economies, Recent Issues in International Monetary Economics, and Recent Issues in the Theory of Flexible Exchange Rates.

• Introduction The International Monetary System Target Zones and Monetary Stability Over- and Undervalued Currencies: Theory, Measurement, and Policy Implications Exchange Rate Management and International Coordination The Role of the SDRs in the International Monetary System Exchange Rate Regimes for LDCs The European Monetary System PPP and the Peso Problem: Exchange Rates in the EMS Fiscal Policies in the EMS--A Strategic Analysis Causes of the Development of the Private ECU and the Behavior of its Interest Rates Currency Unification, Currency Competition, and the Private ECU: Second Thoughts Bibliography Indexes