How did the international monetary system influence macroeconomic policy-making and performance during the post-World War II years during which exchange rates were fixed under the Bretton Woods agreement (1946-1973)?

What will be an ideal response?

In July 1944, representatives of 44 countries met in Bretton Woods, New Hampshire, and drafted and signed the Articles of Agreement of the International Monetary Fund (IMF) and of the World Bank. The agreement established fixed exchange rates against the U.S. dollar and an unvarying dollar price of gold-$35 an ounce.
The dollar of the United States became the postwar world's key currency because of a few factors:
(1 ) The early convertibility of the U.S. dollar in 1945
(2 ) The special position of the dollar under the Bretton Woods system
(3 ) The strength of the American economy relative to the devastated economies of Europe and Japan
(4 ) Central banks naturally found it advantageous to hold their international reserves in the form of interest-bearing dollar assets
The Marshall Plan, a program of dollar grants from the United States to European countries, was initiated in 1948.
Most countries in Europe did not restore convertibility until the end of 1958, with Japan following in 1964.