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The Federal Reserve Engages the World (1970-2000): An Insider’s Narrative of the Transition to Managed Floating and Financial Turbulence

Truman, Edwin M. - Peter G. Peterson Institute for International Economics … - 2014

This paper traces the evolution of the Federal Reserve and its engagement with the global economy over the last three decades of the 20th century: 1970 to 2000. The paper examines the Federal Reserve’s role in international economic and financial policy and analysis covering four areas: the...

Persistent link: https://www.econbiz.de/10010889808

A China Round of Multilateral Trade Negotiations

Mattoo, Aaditya; Mishra, Prachi; Subramanian, Arvind - Peter G. Peterson Institute for International Economics … - 2012

—afforded by disaggregated trade data—across exporters, importers, product, and time to estimate this spillover effect. The results …

Persistent link: https://www.econbiz.de/10010534879

Estimating Consistent Fundamental Equilibrium Exchange Rates

Cline, William R. - Peter G. Peterson Institute for International Economics … - 2008

-specific impact parameters based on assumed trade elasticities are applied to a target set of changes in current accounts as … percentages of GDP to obtain a corresponding set of target changes in real effective (trade-weighted) exchange rates. A matrix …

Persistent link: https://www.econbiz.de/10005760877

Currency Undervaluation and Sovereign Wealth Funds: A New Role for the World Trade Organization

Subramanian, Arvind; Mattoo, Aaditya - Peter G. Peterson Institute for International Economics … - 2008

effective in dealing with undervalued exchange rates. We propose new rules in the World Trade Organization (WTO) to discipline … that there are large trade consequences of undervalued exchange rates, which act as both import tariffs and export … strike this bargain. Its services agreement, the General Agreement on Trade in Services (GATS), already covers investments by …

Persistent link: https://www.econbiz.de/10005035518

Beyond Bipolar: A Three-Dimensional Assessment of Monetary Frameworks

Kuttner, Kenneth N.; Posen, Adam S. - Peter G. Peterson Institute for International Economics … - 2001

Recently, great attention has been focused on the impact of exchange rate regimes, just as previous empirical research examined central bank autonomy and announced targets for domestic monetary policy. To date, however, these three elements of monetary frameworks have been assessed in isolation...

Persistent link: https://www.econbiz.de/10005035521

Exchange Rate Economics

Williamson, John - Peter G. Peterson Institute for International Economics … - 2008

The paper summarizes the current theory of how a floating exchange rate is determined, dividing the subject into what determines the steady state and what determines the transition to steady state. The inadequacies of this model are examined, and an alternative “behavioral” model, which...

Persistent link: https://www.econbiz.de/10005585604

The Renminbi Bloc is Here: Asia Down, Rest of the World to Go?

Subramanian, Arvind; Kessler, Martin - Peter G. Peterson Institute for International Economics … - 2012

, especially for the RMB, are associated with trade integration. We draw some lessons for the prospects for the RMB bloc to move … beyond Asia based on a comparison of the RMB’s situation today and that of the Japanese yen in the early 1990s. If trade were …

Persistent link: https://www.econbiz.de/10010686046

Choice and Coercion in East Asian Exchange Rate Regimes

Henning, C. Randall - Peter G. Peterson Institute for International Economics … - 2012

dominance of the US dollar as a trade, investment and reserve currency. Third, exchange rate stabilization is explained by the …

Persistent link: https://www.econbiz.de/10010575446

Exchange Rate Policy in Brazil

Williamson, John - Peter G. Peterson Institute for International Economics … - 2010

The macroeconomic regime implanted in Brazil during the second administration of Fernando Henrique Cardoso, and largely maintained by his successor, is typical of those of the advanced countries. The anchor is provided by an inflation-targeting regime (with a target inflation rate somewhat...

Persistent link: https://www.econbiz.de/10008752826

Versailles Redux? Eurozone Competitiveness in a Dynamic Balassa-Samuelson-Penn Framework

Stahler, Kevin; Subramanian, Arvind - Peter G. Peterson Institute for International Economics … - 2014

Prima facie, competitiveness adjustments in the eurozone, based on unit labor cost developments, appear sensible and in line with what the economic analyst might have predicted and the economic doctor might have ordered. But a broader and arguably better--Balassa-Samuelson-Penn (BSP)--framework...

Persistent link: https://www.econbiz.de/10011079224