The New International Monetary System.

The New International Monetary System (1977), edited by Robert A. Mundell and Jacques J. Polak, arose from a conference sponsored jointly by the International Monetary Fund and Columbia University on November 11 and 12, 1976, held at IMF headquarters in Washington, D.C., as a memorial to J. Marcus Fleming, the distinguished IMF economist and co-originator with Mundell of the foundational Mundell-Fleming model of open-economy macroeconomics. The volume gathers contributions from an extraordinary assembly of the foremost international monetary economists of the era, including Otmar Emminger, Paul A. Volcker, Richard Cooper, Gottfried Haberler, and Peter Kenen, across four sessions addressing monetary policy coordination, IMF surveillance over exchange rates, and the control of international reserves. Robert Mundell, Professor of Economics at Columbia University from 1974 and recipient of the Nobel Memorial Prize in Economic Sciences in 1999, is widely regarded as the intellectual father of the Euro currency, making this volume a significant primary document in the scholarly tradition that helped lay the theoretical groundwork for European monetary union. Jacques J. Polak, the Dutch-born economist who served for decades in senior positions at the IMF, brought to the co-editorship an institutional authority that complemented Mundell's theoretical contributions.