01919cas a2200265 a 4500 AALejournalIMF013971 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475514148 1018-5941 BD-DhAAL BD-DhAAL Mohan, Rakesh. The International Monetary System : Where Are We and Where Do We Need to Go? / Rakesh Mohan, Michael Patra, Muneesh Kapur. Washington, D.C. : International Monetary Fund, 2013. 1 online resource (49 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The North Atlantic financial crisis of 2008-2009 has spurred renewed interest in reforming the international monetary system, which has been malfunctioning in many aspects. Large and volatile capital flows have promoted greater volatility in financial markets, leading to recurrent financial crises. The renewed focus on the broader role of the central banks, away from narrow price stability monetary policy frameworks, is necessary to ensure domestic macroeconomic and financial stability. Since international monetary cooperation might be difficult, though desirable, central banks in major advanced economies, going forward, need to internalize the implications of their monetary policies for the rest of the global economy to reduce the incidence of financial crises. Mode of access: Internet Kapur, Muneesh. Patra, Michael. IMF Working Papers; Working Paper ; No. 2013/224 Full text available on IMF http://elibrary.imf.org/view/journals/001/2013/224/001.2013.issue-224-en.xml IMF e-Library