Showing 1 - 10 of 34
cooperation between regional institutions and the International Monetary Fund (IMF). While the case for coordination between … appreciated. The relatively successful cooperation among the European Commission, European Central Bank, and IMF on the European … of coordination failure could be very large. Recent innovations at the IMF, on the other hand, present opportunities for …
Persistent link: https://www.econbiz.de/10008873252
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
Scholarship on European integration has extensively debated the external character of the monetary union. The institutions of exchange rate policymaking bear substantially on the euro area’s role in international monetary conflict and cooperation. This working paper examines the institutional...
Persistent link: https://www.econbiz.de/10005627706
In the first decade of the 21st century the International Monetary Fund (IMF) faced crises of legitimacy, relevance … about the modest package of IMF reforms that was completed in the spring of 2008. The package requires US congressional … approval to go into effect. This paper reviews the recent, slow progress on IMF reform and makes recommendations to the Obama …
Persistent link: https://www.econbiz.de/10005627739
This paper argues that the way in which China is portrayed in the revived Bretton Woods thesis (BW2) is not consistent with several important trends in, and features of, the Chinese economy; nor does the strategy in the BW2 seem sensible for China's long-term economic development. Whether it is...
Persistent link: https://www.econbiz.de/10005627742
Fund (IMF). Author Edwin M. Truman advocates a substantial expansion of the IMF's role as lender of last resort that is … integrated with the surveillance role of the IMF in the form of comprehensive prequalification for IMF assistance and policy … advice and a substantial increase in the IMF's financial resources. Truman also propose an approach to meaningful reform of …
Persistent link: https://www.econbiz.de/10008642738
This paper addresses two central questions for Asia and the world: (1) What is the purpose of Asian regional policy coordination going forward? (2) Will Asian regional policy coordination substitute or complement global policy coordination? The paper examines the potential coverage and content...
Persistent link: https://www.econbiz.de/10009371326
This paper analyzes prudential controls on capital flows to emerging markets from the perspective of a Pigouvian tax that addresses externalities associated with the deleveraging cycle. It presents a model in which restricting capital inflows during boom times reduces the potential outflows...
Persistent link: https://www.econbiz.de/10008635664
(IMF) and other countries were mistaken in treating the European crises as individual country crises rather than as a …
Persistent link: https://www.econbiz.de/10010700896
The literature on capital controls has (at least) four very serious apples-to-oranges problems: (i) There is no unified theoretical framework to analyze the macroeconomic consequences of controls; (ii) there is significant heterogeneity across countries and time in the control measures...
Persistent link: https://www.econbiz.de/10008853838