The International Monetary System: Living with Asymmetry

Maurice Obstfeld

NBER Working Paper No. 17641
Issued in December 2011

---- Acknowledgments ----

Vladimir Asriyan provided expert research assistance. The International Growth Centre (London School of Economics) and the Center for Equitable Growth (UC Berkeley) provided essential financial support. This paper will be a chapter in an NBER conference volume to be entitled Globalization in an Age of Crisis: Multilateral Economic Cooperation in the Twenty-First Century, edited by Robert C. Feenstra and Alan M. Taylor. I am grateful for comments from participants at the Bank of England/NBER conference, as well as my discussants, Takatoshi Ito and Adam Posen The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.

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