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Global imbalances and the financial ...

Council on Foreign Relations.

Global imbalances and the financial crisis

紀錄類型:	書目-語言資料,印刷品 : Monograph/item
杜威分類號:	332.042
書名/作者:	Global imbalances and the financial crisis/ Steven Dunaway.
作者:	Dunaway, Steven Vincent.
出版者:	Washington, D.C. : Council on Foreign Relations, Center for Geoeconomic Studies, c2009.
面頁冊數:	ix, 44 p. : ill.; 23 cm.
附註:	"March 2009."
標題:	Balance of payments.
標題:	Saving and investment.
標題:	International finance.
標題:	Balance of trade.
ISBN:	9780876094280
ISBN:	0876094280
書目註:	Includes bibliographical references (p. 31-32).
摘要、提要註:	Crafting stimulus packages and financial bailouts to address immediate problems has for many reasons been a priority for policymakers. In this Council Special Report, however, Steven Dunaway argues that policymakers must go beyond these steps and tackle one of the root causes of today's crisis: imbalances between savings and investment in major countries. The report analyzes the nature of these imbalances, which occur when some countries, such as the United States, run large current account (essentially trade) deficits while others, such as China, maintain large surpluses. Dunaway identifies three features of the international financial system that have allowed the imbalances to persist, features that involve both floating and managed exchange rates as well as the issuance of reserve assets. In particular, he notes that the United States' status as an issuer of such assets has enabled it to finance a current account deficit. The report then prescribes a variety of steps to address global imbalances. Beyond stimulus packages around the world, it urges measures to raise savings (principally government savings) in the United States, reform labor and product markets in Europe and Japan to increase competition and flexibility, and boost domestic consumption in China. Finally, the report advocates improving International Monetary Fund (IMF) surveillance of member states' economic policies by reducing the role of the Fund's executive board and depoliticizing the selection of its senior management.
電子資源:	Connect to electronic version

Global imbalances and the financial crisis
Dunaway, Steven Vincent.

Global imbalances and the financial crisisSteven Dunaway. - Washington, D.C.Council on Foreign Relations, Center for Geoeconomic Studiesc2009. - ix, 44 p. ill.23 cm. - Council special report / Council on Foreign Relationsno. 44.

"March 2009."

Includes bibliographical references (p. 31-32).

Crafting stimulus packages and financial bailouts to address immediate problems has for many reasons been a priority for policymakers. In this Council Special Report, however, Steven Dunaway argues that policymakers must go beyond these steps and tackle one of the root causes of today's crisis: imbalances between savings and investment in major countries. The report analyzes the nature of these imbalances, which occur when some countries, such as the United States, run large current account (essentially trade) deficits while others, such as China, maintain large surpluses. Dunaway identifies three features of the international financial system that have allowed the imbalances to persist, features that involve both floating and managed exchange rates as well as the issuance of reserve assets. In particular, he notes that the United States' status as an issuer of such assets has enabled it to finance a current account deficit. The report then prescribes a variety of steps to address global imbalances. Beyond stimulus packages around the world, it urges measures to raise savings (principally government savings) in the United States, reform labor and product markets in Europe and Japan to increase competition and flexibility, and boost domestic consumption in China. Finally, the report advocates improving International Monetary Fund (IMF) surveillance of member states' economic policies by reducing the role of the Fund's executive board and depoliticizing the selection of its senior management.

ISBN: 9780876094280NTD 325Subjects--Corporate Names:

338972
International Monetary Fund.
Subjects--Topical Terms:

348759
Balance of payments.

Dewey Class. No.: 332.042

Global imbalances and the financial crisis
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490 1 $a Council special report / Council on Foreign Relations $v no. 44
500 $a "March 2009."
504 $a Includes bibliographical references (p. 31-32).
520 0 $a Crafting stimulus packages and financial bailouts to address immediate problems has for many reasons been a priority for policymakers. In this Council Special Report, however, Steven Dunaway argues that policymakers must go beyond these steps and tackle one of the root causes of today's crisis: imbalances between savings and investment in major countries. The report analyzes the nature of these imbalances, which occur when some countries, such as the United States, run large current account (essentially trade) deficits while others, such as China, maintain large surpluses. Dunaway identifies three features of the international financial system that have allowed the imbalances to persist, features that involve both floating and managed exchange rates as well as the issuance of reserve assets. In particular, he notes that the United States' status as an issuer of such assets has enabled it to finance a current account deficit. The report then prescribes a variety of steps to address global imbalances. Beyond stimulus packages around the world, it urges measures to raise savings (principally government savings) in the United States, reform labor and product markets in Europe and Japan to increase competition and flexibility, and boost domestic consumption in China. Finally, the report advocates improving International Monetary Fund (IMF) surveillance of member states' economic policies by reducing the role of the Fund's executive board and depoliticizing the selection of its senior management.
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650 # 0 $a Saving and investment. $3 348760
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