List of tables; List of figures; List of charts; Acknowledgements; 1. Introduction; 2. Real exchange rate behavior under alternative international monetary regimes; 3. Understanding 1921–27: inflation and economic recovery in the 1920s; 4. Bank rate policy under the interwar gold standard with Mark W. Watson and Richard S. Grossman; 5. The Bank of France and the sterilization of gold, 1926–1932; 6. International policy coordination in historical perspective: a view from the interwar years; 7. The economic consequences of the Franc Poincaré with Charles Wyplosz; 8. Sterling and the tariff, 1929–32; 9. Exchange rates and economic recovery in the 1930s with Jeffrey Sachs; 10. The gold-exchange standard and the Great Depression; 11. Hegemonic stability theories of the international monetary system; Notes; References; Index.

' … new, impressive, and illuminating collection of essays from Professor Eichengreen … His method of argument is rigorous and detached; and the algebra is happily not allowed to overwhelm the sense.' Douglas Jay, Financial Times