EconoMonitor

Peterson Institute for International Economics

Archive for July, 2009

  • American Saving Is No Excuse for Schadenfreude

    Op-ed in Welt am Sonntag July 19, 2009   For some years now, excessive American consumption has been held up by officials from thriftier nations like Germany as a subject of concern and derision. There clearly was something to this criticism. Not only were the macroeconomic data scary in terms of the low personal saving rate […]

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  • Buy American: Bad for Jobs, Worse for Reputation

    On January 28, 2009, the US House of Representatives passed its economic stimulus plan, the American Recovery and Reinvestment Act of 2009. Out of the bill’s 700 text pages, a small half-page section attracted enormous media attention: the section requiring that all public projects funded by the stimulus plan must use only iron and steel […]

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  • The GCC Monetary Union: Choice of Exchange Rate Regime

    Abstract: The creation of a monetary union has been the primary objective of the Gulf Cooperation Council (GCC) members since the early 1980s. Significant progress has already been made in regional economic integration: The GCC countries have largely unrestricted intraregional mobility of goods, labor, and capital; regulation of the banking sector is being harmonized; and […]

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  • 2009 Estimates of Fundamental Equilibrium Exchange Rates

    When we first published our estimates of fundamental equilibrium exchange rates (FEERs) in July 2008 (Cline and Williamson 2008), we stated that this was intended to be a regular series of publications. This policy brief updates those estimates in light of the momentous changes in the world economy during the past year. Many of those […]

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  • Congress Should Support the IMF

    C. Randall Henning argues that a measure to increase the US commitment to the International Monetary Fund, approved by the Senate but not by the House, is needed to stabilize emerging-market economies. Recorded May 22, 2009. © Peterson Institute for International Economics. Steve Weisman: This is Steve Weisman at the Peterson Institute for International Economics. […]

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  • A Snag for the Panama FTA

    Gary Clyde Hufbauer argues that stalling the Panama free trade agreement because of Panama’s bank secrecy laws and supposed status as a tax haven could imperil trade accords across the board. Recorded June 9, 2009. © Peterson Institute for International Economics. Steve Weisman: This is Steve Weisman at the Peterson Institute for International Economics. Gary […]

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  • Policy Responses to the Global Financial Crisis

    Remarks presented at the Ninth Annual International Seminar, on “Policy Challenges for the Financial Sector Emerging from the Crisis: Building a Stronger International Financial System,” Board of Governors of the Federal Reserve System, World Bank, and International Monetary Fund June 3, 2009 Serious financial crises go through seven distinct phases. First is the precrisis phase […]

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  • Understanding Special Drawing Rights (SDRs)

    John Williamson, senior fellow at the Peterson Institute, has been associated with the Institute since 1981. He was project director for the UN High-Level Panel on Financing for Development (the Zedillo Report) in 2001; on leave as chief economist for South Asia at the World Bank during 1996–99; economics professor at Pontificia Universidade Católica do […]

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  • Is the United States De-emphasizing its Bank Clean-Up Plan?

    Michael Mussa discusses the reasons why the Obama administration’s plan to remove toxic loans from bank balance sheets may turn out to be unnecessary. Recorded June 8, 2009. © Peterson Institute for International Economics. Steve Weisman: This is Steve Weisman at the Peterson Institute for International Economics. Our guest, Michael Mussa, a senior fellow at […]

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  • Will the US Auto Rescue Disrupt Global Trade?

    Gary Clyde Hufbauer sees the Chrysler and GM bailouts as running counter to decades of American catechism for other countries and very likely to lead to lawsuits and retaliation by trading partners. Recorded June 9, 2009. © Peterson Institute for International Economics. Steve Weisman: This is Steve Weisman at the Peterson Institute for International Economics. […]

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