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My thesis is the unraveling of the international trading system that is underway could rival the breakdown of the Bretton Woods fixed exchange rate system as the most important international development in the post-World War II era. The collapse of fixed exchange rates ushered in a period of high inflation and extraordinary U.S. dollar volatility that lasted from the early 1970s through the late 1980s.

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What Will Replace the Post-War Order?

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  • 发表日期：

    2026年

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  • Nicholas P. Sargen

摘要

My thesis is the unraveling of the international trading system that is underway could rival the breakdown of the Bretton Woods fixed exchange rate system as the most important international development in the post-World War II era. The collapse of fixed exchange rates ushered in a period of high inflation and extraordinary U.S. dollar volatility that lasted from the early 1970s through the late 1980s.