Five New Trends in Monetary Economics

Harvard's Jeff Frankel has an excellent piece on his blog about current trends in international monetary economics. His list is:

• The G20's replacing the G7
  
• Countries are moving away from either fixed or floating exchange rates toward more intermediate regimes
• Countries (i.e. China) are getting more credit for accumulating reserves, even if they have to use "unfair manipulation" to do it
• Export price targeting will replace inflation targeting for central banks
• The dollar being the world's reserve currency is being replaced by a multiple currency system

Definitely read the whole piece.