Abstract
The Articles of Agreement of the International Monetary Fund stipulate in Article IV(5)a that ‘a member shall not propose a change in the par value of its currency except to correct a fundamental disequilibrium’.
This chapter was originally published in The New Palgrave: A Dictionary of Economics, 1st edition, 1987. Edited by John Eatwell, Murray Milgate and Peter Newman
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Bibliography
Bank for International Settlements. 1945. Annual report. Basle: Bank for International Settlements.
Dam, K.W. 1982. The rules of the game: Reform and evolution in the international monetary system. Chicago: University of Chicago Press.
de Vries, M.G. 1985. The international monetary fund 1972–1978: Cooperation on trial. 3 vols, Washington, DC: International Monetary Fund.
Horsefield, J.K. 1969. The international monetary fund 1945–1965: Twenty years of international cooperation. 3 vols, Washington, DC: International Monetary Fund.
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Moggridge, D.E. (1987). Fundamental Disequilibrium. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95121-5_1209-1
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DOI: https://doi.org/10.1057/978-1-349-95121-5_1209-1
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Publisher Name: Palgrave Macmillan, London
Online ISBN: 978-1-349-95121-5
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