In this sense, the post-1990 monetary-policy regime contributed to global stability by ensuring that central banks remained focused on putting their own house in order. But can the cooperative model of global monetary policy survive in an age of geopolitical fragmentation? Will central banks remain independent and maintain their commitment to price stability above all? The answers will depend on the frameworks adopted to govern the interplay between fiscal and monetary policy in an increasingly conflictual world. from The Twilight of Bretton Woods by Giancarlo Corsetti [Project Syndicate; ungated]