The Resource Global imbalances and the financial crisis, Steven Dunaway
Global imbalances and the financial crisis, Steven Dunaway
Resource Information
The item Global imbalances and the financial crisis, Steven Dunaway represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in European University Institute.This item is available to borrow from 1 library branch.
Resource Information
The item Global imbalances and the financial crisis, Steven Dunaway represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in European University Institute.
This item is available to borrow from 1 library branch.
- Summary
- 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
- Language
- eng
- Extent
- ix, 56 pages
- Note
- "March 2009."
- Isbn
- 9780876094280
- Label
- Global imbalances and the financial crisis
- Title
- Global imbalances and the financial crisis
- Statement of responsibility
- Steven Dunaway
- Language
- eng
- Summary
- 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
- Additional physical form
- Also available online at the CFR website.
- Cataloging source
- IT-FiEUI
- http://library.link/vocab/creatorName
- Dunaway, Steven Vincent
- Illustrations
- illustrations
- Index
- no index present
- Literary form
- non fiction
- Nature of contents
- bibliography
- http://library.link/vocab/relatedWorkOrContributorName
- Council on Foreign Relations
- Series statement
- Council special report / Council on Foreign Relations
- Series volume
- no. 44
- http://library.link/vocab/subjectName
-
- International Monetary Fund
- Balance of payments
- Saving and investment
- International finance
- Balance of trade
- Label
- Global imbalances and the financial crisis, Steven Dunaway
- Note
- "March 2009."
- Bibliography note
- Includes bibliographical references (pages 31-32)
- Carrier category
- volume
- Carrier category code
- nc
- Carrier MARC source
- rdacarrier.
- Content category
- text
- Content type code
- txt
- Content type MARC source
- rdacontent.
- Control code
- FIEb16065736
- Dimensions
- 23 cm.
- Extent
- ix, 56 pages
- Isbn
- 9780876094280
- Media category
- unmediated
- Media MARC source
- rdamedia.
- Media type code
- n
- Other physical details
- illustrations
- System control number
- (OCoLC)315733280
- Label
- Global imbalances and the financial crisis, Steven Dunaway
- Note
- "March 2009."
- Bibliography note
- Includes bibliographical references (pages 31-32)
- Carrier category
- volume
- Carrier category code
- nc
- Carrier MARC source
- rdacarrier.
- Content category
- text
- Content type code
- txt
- Content type MARC source
- rdacontent.
- Control code
- FIEb16065736
- Dimensions
- 23 cm.
- Extent
- ix, 56 pages
- Isbn
- 9780876094280
- Media category
- unmediated
- Media MARC source
- rdamedia.
- Media type code
- n
- Other physical details
- illustrations
- System control number
- (OCoLC)315733280
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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.library.eui.eu/portal/Global-imbalances-and-the-financial-crisis/9VWeU8G0h-E/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.library.eui.eu/portal/Global-imbalances-and-the-financial-crisis/9VWeU8G0h-E/">Global imbalances and the financial crisis, Steven Dunaway</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.library.eui.eu/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.library.eui.eu/">European University Institute</a></span></span></span></span></div>
