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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. - 2015
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/10013032804
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The G-20 and International Financial Institution Governance
Truman, Edwin M. - 2011
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/10013132893
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Asian Regional Policy Coordination
Truman, Edwin M. - 2011
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/10013117793
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The End of the Bretton Woods International Monetary System
Truman, Edwin M. - 2017
This paper examines two episodes of international economic policy coordination: the efforts to modify the Bretton Woods international monetary system in the 1960s and early 1970s and to reform the system after the closing of the US official gold window on August 15, 1971. The paper examines the...
Persistent link: https://www.econbiz.de/10012944582
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On What Terms is the IMF Worth Funding?
Truman, Edwin M. - 2009
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/10012765521
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The IMF Should Enhance the Role of Sdrs to Strengthen the International Monetary System
Truman, Edwin M. - 2022
The special drawing right (SDR), issued by the International Monetary Fund (IMF), has the potential to strengthen … institutional closet from 1980 until 2009, when $250 billion in SDRs was allocated to members of the IMF to help address the global … countries other than low-income members of the IMF benefited directly in multiple ways from those allocations …
Persistent link: https://www.econbiz.de/10014235587
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The International Financial System after COVID-19
Obstfeld, Maurice - 2022
In March 2020, international markets seized up with a violence unequaled since the global financial crisis nearly a dozen years before. As economies around the world locked down in the face of the potentially deadly but completely novel SARS-CoV-2 virus, stock markets fell, firms and governments...
Persistent link: https://www.econbiz.de/10013298189
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Capital Controls : Myth and Reality - A Portfolio Balance Approach
Reinhart, Carmen M. - 2011
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/10013129031
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Asian and European Financial Crises Compared
Truman, Edwin M. - 2013
(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/10013074003
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A New Index of External Debt Sustainability
Blanchard, Olivier J. - 2017
Debt sustainability is fundamentally a probabilistic concept: Debt is rarely sustainable with probability one. We propose an index of external debt sustainability that reflects this uncertainty. Namely we construct the index as the probability that, at the current exchange rate, net external...
Persistent link: https://www.econbiz.de/10012943506