Preface
Harinder S Kohli and Jack T Boorman
1: The Report of the Palais Royal Initiative-Reform of the International Monetary System: A Cooperative Approach for the 21st Century
Introduction
Michel Camdessus and Alexandre Lamfalussy
Palais Royal Initiative-Reform of the International Monetary System: A Cooperative Approach for the 21st Century February 8, 2011
2: BACKGROUND MATERIAL MOTIVATING THE INITIAL
Discussions of the Palais Royal Initiative
Reconstructing a World Monetary Order
Michel Camdessus, Alexandre Lamfalussy, and Tommaso Padoa-Schioppa
Toward a New International Monetary System
Michel Camdessus
Reforming Exchange Rate Relationships
Tommaso Padoa-Schioppa
The Ghost of Bancor: The Economic Crisis and Global Monetary Disorder
Tommaso Padoa-Schioppa
Toward an Orderly Supply of Reserve Currencies
Michel Camdessus and André Icard
Strengthening IMF Surveillance
Jack T Boorman
3: CONTRIBUTIONS FROM PARTICIPANTS IN THE PALAIS ROYAL GROUP
The Debate on the International Monetary System
Isabelle Mateos y Lago, Rupa Duttagupta, and Rishi Goyal
Strengthening IMF Surveillance: A Comprehensive Proposal
Edwin M Truman
Some Thoughts on Surveillance for Global Stability
Y Venugopal Reddy
Thoughts on Reforming the International Monetary System and Enhancing the Role of the SDR
Xiaolian Hu
Enhancing the Role of the SDR as a Reserve Asset
André Icard
Making the SDR a More Attractive Reserve Asset: The Development of Private SDR Markets
Pietro Catte
An SDR Based Reserve System
Peter B Kenen
Global Liquidity: Where it Comes From and Why it Matters
Pietro Catte and Corrinne Ho
The IMF as International Lender of Last Resort
Edwin M Truman
4: CONSIDERATIONS ON RECONSTRUCTING THE INTERNATIONAL MONETARY SYSTEM: CONTRIBUTIONS REQUESTED OF OTHER EXPERTS
Contribution by Michel Aglietta
Contribution by Peter Bofinger
What International Monetary System for a Fast-Changing World Economy?
Agnès Bénassy-Quéré and Jean Pisani-Ferry
Contribution by Joseph Yam
Contribution by Andrew Sheng
Contribution by John Williamson
Contribution by Peter B Kenen
Trade Imbalances: Causes, Consequences, and Policy Measures
Hans-Werner Sinn, Teresa Buchen, and Timo Wollmershäuser