NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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The Imbalances of the Bretton Woods System 1965 to 1973: U.S. Inflation, The Elephant in the Room

Michael D. Bordo

NBER Working Paper No. 25409
Issued in December 2018

---- Acknowledgments ----

Paper prepared for the Panel “Global Imbalances and the Burden of Adjustment in Historical Perspective” World Economic History Congress, Boston Mass. August 2 2018 The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.

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