Accountability And Oversight Of Us Exchange Rate Policy
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Accountability And Oversight Of Us Exchange Rate Policy
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Author : C. Randall Henning
language : en
Publisher: Columbia University Press
Release Date : 2008-06-01
Accountability And Oversight Of Us Exchange Rate Policy written by C. Randall Henning and has been published by Columbia University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-06-01 with Business & Economics categories.
The dispute over Chinese exchange rate policy within the United States has generated a series of legislative proposals to restrict the discretion of the US Treasury Department in determining currency manipulation and to reform the department's accountability to the Congress. This study reviews the Treasury's reports to the Congress on exchange rate policy—introduced by the 1988 trade act—and Congress's treatment of them. It finds that the accountability process has often not worked well in practice: The coverage of the reports has sometimes been incomplete and not provided a sufficient basis for congressional oversight. Nor has Congress always performed its own role well, holding hearings on less than half of the reports and overlooking important substantive issues. Several recommendations can improve guidance to the Treasury, standards for assessment, and congressional oversight. These include (1) refining the criteria used to determine currency manipulation and writing them into law; (2) explicitly harnessing US decisions on manipulation to the IMF's rules on exchange rates; (3) clarifying the general objectives of US exchange rate policy; (4) reaffirming the mandate to seek international macroeconomic and currency cooperation; and (5) institutionalizing multicommittee oversight of exchange rate policy by Congress. As they develop legislation targeting manipulation, furthermore, legislators should not lose sight of the broader purposes of the 1988 act relating to the effective valuation of the dollar, the current account, and their ramifications for the US economy overall.
The Treasury Department S Report On International Economic And Exchange Rate Policies
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Author : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
language : en
Publisher:
Release Date : 2011
The Treasury Department S Report On International Economic And Exchange Rate Policies written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Business & Economics categories.
Failure To Adjust
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Author : Edward Alden
language : en
Publisher: Bloomsbury Publishing PLC
Release Date : 2017-09-15
Failure To Adjust written by Edward Alden and has been published by Bloomsbury Publishing PLC this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-15 with Political Science categories.
Americans know that something has gone wrong in this country’s effort to prosper in the face of growing global economic competition. The vast benefits promised by the supporters of globalization, and by their own government, have never materialized for most Americans. This book is the story of what went wrong, and how to correct the course. It is a compelling history of the last four decades of US economic and trade policies that have left Americans unable to adapt to or compete in the current global marketplace. Failure to Adjust argues that, despite the deep partisan divisions over how best to respond to America’s competitive challenges, there is achievable common ground on such issues as fostering innovation, overhauling tax rules to encourage investment in the United States, boosting graduation rates, investing in infrastructure, and streamlining regulations. The federal government needs to become more like U.S. state governments in embracing economic competitiveness as a central function of government. The book presents an especially timely analysis of the trade policies of the Obama administration, and discusses how America can reassert itself as the leader in setting rules for international economic competition that would spread the benefits of global trade and investment more broadly.
How Successful Is The G7 In Managing Exchange Rates
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Author : Marcel Fratzscher
language : en
Publisher: DIANE Publishing
Release Date : 2010
How Successful Is The G7 In Managing Exchange Rates written by Marcel Fratzscher and has been published by DIANE Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Business & Economics categories.
Assesses the extent to which the Group of Seven (G7) has been successful in its management of major currencies since the 1970s. The G7 has been effective in moving the U.S. dollar, yen and euro in the intended direction at horizons of up to three months after G7 meetings, but not at longer horizons. The findings indicate that the reputation and credibility of the G7, as well as its ability to form and communicate a consensus among individual G7 members, are important determinants for the G7¿s ability to manage major currencies. This paper concludes by analyzing the factors that help the G7 build reputation and consensus, and by discussing the implications for global economic governance. Charts and tables.
European Yearbook Of International Economic Law 2010
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Author : Christoph Herrmann
language : en
Publisher: Springer Science & Business Media
Release Date : 2009-12-01
European Yearbook Of International Economic Law 2010 written by Christoph Herrmann and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-12-01 with Law categories.
The first volume of the new Yearbook tries to catch the broadness of contemporary International Economic Law. In part I, it brings together articles on a variety of subjects, reaching from exchange rate manipulation and financial market supervision over international investment law including the growing investment protectionism to recent developments of the external economic constitution of the European Union and the relationship between climate change and International Economic Law. Part II covers the major regional economic integration developments around the globe, analysed in different articles covering the different regions. Part III informs about recent activities in some of the major global economic institutions.
Foreign Direct Investment In The United States Benefits Suspicions And Risks With Special Attention To Fdi From China
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Author : Theodore H. Moran
language : en
Publisher: Peterson Institute for International Economics
Release Date : 2013-09-01
Foreign Direct Investment In The United States Benefits Suspicions And Risks With Special Attention To Fdi From China written by Theodore H. Moran and has been published by Peterson Institute for International Economics this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-09-01 with Business & Economics categories.
Americans have long been ambivalent toward foreign direct investment in the United States. Foreign multinational corporations may be a source of capital, technology, and jobs. But what are the implications for US workers, firms, communities, and consumers as the United States remains the most popular destination for foreign multinational investment? Theodore H. Moran and Lindsay Oldenski find that foreign multinational firms that invest in the United States are, alongside US-headquartered American multinationals, the most productive and highest-paying segment of the US economy. These firms conduct more research and development, provide more value added to US domestic inputs, and export more goods and services than other firms in the US economy. The superior technology and management techniques they employ spill over horizontally and vertically to improve the performance of local firms and workers. As the United States wants not only to expand employment but also create well-paying jobs that reverse the falling earnings that many US workers and middle class families have suffered in recent decades, it is more important than ever to enhance the United States as a destination for multinational investors
Flexible Exchange Rates For A Stable World Economy
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Author : Joseph E. Gagnon
language : en
Publisher: Peterson Institute
Release Date : 2011
Flexible Exchange Rates For A Stable World Economy written by Joseph E. Gagnon and has been published by Peterson Institute this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Business & Economics categories.
Volatile exchange rates and how to manage them are a contentious topic whenever economic policymakers gather in international meetings. This book examines the broad parameters of exchange rate policy in light of both high-powered theory and real-world experience. What are the costs and benefits of flexible versus fixed exchange rates? How much of a role should the exchange rate play in monetary policy? Why don't volatile exchange rates destabilize inflation and output? The principal finding of this book is that using monetary policy to fight exchange rate volatility, including through the adoption of a fixed exchange rate regime, leads to greater volatility of employment, output, and inflation. In other words, the "cure" for exchange rate volatility is worse than the disease. This finding is demonstrated in economic models, in historical case studies, and in statistical analysis of the data. The book devotes considerable attention to understanding the reasons why volatile exchange rates do not destabilize inflation and output. The book concludes that many countries would benefit from allowing greater flexibility of their exchange rates in order to target monetary policy at stabilization of their domestic economies. Few, if any, countries would benefit from a move in the opposite direction.
Governing The Euro Area In Good Times And Bad
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Author : Dermot Hodson
language : en
Publisher: Oxford University Press, USA
Release Date : 2011-08-25
Governing The Euro Area In Good Times And Bad written by Dermot Hodson and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-08-25 with Business & Economics categories.
This volume offers a timely analysis of economic and monetary union at a time of heightened uncertainty about the future of the Euro. It explores the evolution of Euro area governance from the launch of the Euro in 1999 to the sovereign debt crisis that struck the Euro area in 2010.
Global Economics In Extraordinary Times
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Author : C. Fred Bergsten
language : en
Publisher: Peterson Institute
Release Date : 2012-11-15
Global Economics In Extraordinary Times written by C. Fred Bergsten and has been published by Peterson Institute this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11-15 with Biography & Autobiography categories.
Over five decades, John Williamson has written across an extraordinarily broad set of topics in international economics ranging from international monetary economics to development policy. The arc of his scholarship follows the main preoccupations of international economists during the second half of the 20th century and the first decade of the 21st. Bridging the scholarly literature and policy debates, his publications on the Washington Consensus, exchange rate policy, and international monetary reform have profoundly influenced public discourse, government policy, and the evolution of the economics discipline. As John marked his 75th birthday, his friends and colleagues prepared this collection of essays to celebrate these many contributions and reflect on their relevance to the challenges that confront the world economy in the wake of the 2008 09 global financial crisis and its current aftermath in Europe.
Transatlantic Economic Challenges In An Era Of Growing Multipolarity
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Author : Jacob F. Kirkegaard
language : en
Publisher: Peterson Institute
Release Date : 2012
Transatlantic Economic Challenges In An Era Of Growing Multipolarity written by Jacob F. Kirkegaard and has been published by Peterson Institute this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Business & Economics categories.
Shifts in global economic dominance are by nature tectonic and never precipitated by single events. The Great Recession of 2008–09, however, has presented the European Union, its common currency the euro, and the United States with new global challenges. The transatlantic partnership has dominated the world economy since the early 20th century and, based upon US and European values and interests, has designed and sustained all its principal global political and economic institutions. But countries outside the European Union and United States now account for about half of the world economy, and in the aftermath of the Great Recession their share is growing rapidly. Hence their increasing role and concomitant demands for greater influence over global economic governance pose a series of challenges and opportunities to the European Union and the United States, as illustrated by the eclipse of the G-8 by the G-20. The contributions in this volume by subject area experts from the Peterson Institute for International Economics and Bruegel ponder how or whether the rise of outside actors of potentially equal, or even greater, economic weight will invariably force a rethinking of not only how the European Union and the United States should conduct policy externally towards the new rising economic poles, but also of the substantive contents of the EU-US bilateral economic and political relationship.