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- The defects in the IMF’s surveillance activities in the run-up to the crisis and problems with policy coordination under the G20 are discussed at length in Paul Blustein’s recent book, Off-Balance (Center for International Governance Innovation 2013). On the Fund’s role in the run-up to the crisis, the 2011 report of the IMF Independent Evaluation Office is also very good.
- The defects of the current dollar based international monetary system are examined cogently in a study by Emanuel Farhi, Pierre-Olivier Gourinchas and Helene Rey, Reforming the International System (Center for Economic Policy Research 2011), which was summarized in the VoxEu.org blog on September 19, 2011.
- For one proposal for moving over time to an SDR-based international reserve system, see Warren Coats “Do We Need a New Global Currency?” Cayman Financial Review (January 5, 2010).