Peterson Institute research staff
The Peterson Institute for International Economics is a private, nonprofit, nonpartisan
research institution devoted to the study of international economic policy. More › ›
RSS News Feed Search
International Finance/Macroeconomics

Exchange Rate Regimes/Monetary Policy | Finance, Investment, and Debt | Global Financial Crises | Inequality | International Monetary Fund | New Economy and Productivity | World Economy

 

Exchange Rate Regimes/Monetary Policy

Essential Reading Items

Policy Brief 14-25: Estimates of Fundamental Equilibrium Exchange Rates, November 2014
by William R. Cline, Peterson Institute for International Economics
November 2014

Policy Brief 14-17: Alternatives to Currency Manipulation: What Switzerland, Singapore, and Hong Kong Can Do
by Joseph E. Gagnon, Peterson Institute for International Economics
June 2014

Policy Brief 13-28: Stabilizing Properties of Flexible Exchange Rates: Evidence from the Global Financial Crisis
by Joseph E. Gagnon, Peterson Institute for International Economics
November 2013

Op-ed: Unconventional Monetary Policy: Don't Shoot the Messenger
by Joseph E. Gagnon, Peterson Institute for International Economics
Op-ed in the Economist. Reposted with permission.
November 14, 2013

Op-ed: Misconceptions About Fed's Bond Buying
by Joseph E. Gagnon, Peterson Institute for International Economics
Op-ed in Bloomberg
September 2, 2013

Working Paper 13-2: The Elephant Hiding in the Room: Currency Intervention and Trade Imbalances
by Joseph E. Gagnon, Peterson Institute for International Economics
March 2013

Policy Brief 12-25: Currency Manipulation, the US Economy, and the Global Economic Order
by C. Fred Bergsten, Peterson Institute for International Economics
and Joseph E. Gagnon, Peterson Institute for International Economics
December 2012

Working Paper 12-19: The Renminbi Bloc Is Here: Asia Down, Rest of the World to Go?
by Arvind Subramanian, Peterson Institute for International Economics
and Martin Kessler, Peterson Institute for International Economics
October 2012
Revised August 2013

Policy Brief 12-7: Projecting China's Current Account Surplus
by William R. Cline, Peterson Institute for International Economics
April 2012

Working Paper 12-4: Spillover Effects of Exchange Rates: A Study of the Renminbi
by Aaditya Mattoo, The World Bank
and Prachi Mishra, International Monetary Fund
and Arvind Subramanian, Peterson Institute for International Economics
March 2012

Book: Flexible Exchange Rates for a Stable World Economy
by Joseph E. Gagnon assisted by Marc Hinterschweiger
October 2011

Policy Brief 10-24: The Central Banker's Case for Doing More
by Adam S. Posen, Peterson Institute for International Economics
October 2010

Policy Brief 10-26: Currency Wars?
by William R. Cline, Peterson Institute for International Economics
and John Williamson, Peterson Institute for International Economics
November 2010

Book: Debating China's Exchange Rate Policy
edited by Morris Goldstein and Nicholas R. Lardy
April 2008


Policy Briefs

14-25: Estimates of Fundamental Equilibrium Exchange Rates, November 2014 [pdf]
by William R. Cline, Peterson Institute for International Economics
November 2014

14-17: Alternatives to Currency Manipulation: What Switzerland, Singapore, and Hong Kong Can Do [pdf]
by Joseph E. Gagnon, Peterson Institute for International Economics
June 2014

14-16: Estimates of Fundamental Equilibrium Exchange Rates, May 2014 [pdf]
by William R. Cline, Peterson Institute for International Economics
May 2014

14-15: Internationalization of the Renminbi: The Role of Trade Settlement [pdf]
by Joseph E. Gagnon, Peterson Institute for International Economics
and Kent Troutman, Peterson Institute for International Economics
May 2014

14-5: Is the European Central Bank Failing Its Price Stability Mandate? [pdf]
by Angel Ubide, Peterson Institute for International Economics
February 2014

14-4: Monetary Policy with Abundant Liquidity: A New Operating Framework for the Federal Reserve [pdf]
by Joseph E. Gagnon, Peterson Institute for International Economics
and Brian Sack, D. E. Shaw Group
January 2014

14-2: Addressing Currency Manipulation Through Trade Agreements [pdf]
by C. Fred Bergsten, Peterson Institute for International Economics
January 2014

13-29: Estimates of Fundamental Equilibrium Exchange Rates, November 2013 [pdf]
by William R. Cline, Peterson Institute for International Economics
November 2013

13-28: Stabilizing Properties of Flexible Exchange Rates: Evidence from the Global Financial Crisis [pdf]
by Joseph E. Gagnon, Peterson Institute for International Economics
November 2013

13-23: How to Form a More Perfect European Banking Union [pdf]
by Angel Ubide, Peterson Institute for International Economics
October 2013

13-15: Estimates of Fundamental Equilibrium Exchange Rates, May 2013 [pdf]
by William R. Cline, Peterson Institute for International Economics
May 2013

13-4: Reengineering EMU for an Uncertain World [pdf]
by Angel Ubide, Peterson Institute for International Economics
February 2013

13-2: A Blueprint for Rebalancing the Chinese Economy [pdf]
by Nicholas R. Lardy, Peterson Institute for International Economics
and Nicholas Borst, Peterson Institute for International Economics
February 2013

12-25: Currency Manipulation, the US Economy, and the Global Economic Order [pdf]
by C. Fred Bergsten, Peterson Institute for International Economics
and Joseph E. Gagnon, Peterson Institute for International Economics
December 2012

12-24: Europe's Single Supervisory Mechanism and the Long Journey Towards Banking Union [pdf]
by Nicolas Veron, Peterson Institute for International Economics
December 2012

12-23: Updated Estimates of Fundamental Equilibrium Exchange Rates [pdf]
by William R. Cline, Peterson Institute for International Economics
and John Williamson, Peterson Institute for International Economics
November 2012

12-22: Hyperinflations Are Rare, but a Breakup of the Euro Area Could Prompt One [pdf]
by Anders Aslund, Peterson Institute for International Economics
November 2012

12-19: Combating Widespread Currency Manipulation [pdf]
by Joseph E. Gagnon, Peterson Institute for International Economics
July 2012

12-14: Estimates of Fundamental Equilibrium Exchange Rates, May 2012 [pdf]
by William R. Cline, Peterson Institute for International Economics
and John Williamson, Peterson Institute for International Economics
May 2012

12-8: Does Monetary Cooperation or Confrontation Lead to Successful Fiscal Consolidation? [pdf]
by Tomas Hellebrandt, Bank of England
and Adam S. Posen, Peterson Institute for International Economics
and Marilyne Tolle, Bank of England
April 2012

12-7: Projecting China's Current Account Surplus [pdf]
by William R. Cline, Peterson Institute for International Economics
April 2012

11-19: G-20 Reforms of the International Monetary System: An Evaluation [pdf]
by Edwin M. Truman, Peterson Institute for International Economics
November 2011

11-18: The Current Currency Situation [pdf]
by William R. Cline, Peterson Institute for International Economics
and John Williamson, Peterson Institute for International Economics
November 2011

11-5: Estimates of Fundamental Equilibrium Exchange Rates, May 2011 [pdf]
by William R. Cline, Peterson Institute for International Economics
and John Williamson, Peterson Institute for International Economics
May 2011

10-26: Currency Wars? [pdf]
by William R. Cline, Peterson Institute for International Economics
and John Williamson, Peterson Institute for International Economics
November 2010

10-24: The Central Banker's Case for Doing More [pdf]
by Adam S. Posen, Peterson Institute for International Economics
October 2010

10-20: Renminbi Undervaluation, China’s Surplus, and the US Trade Deficit [pdf]
by William R. Cline, Peterson Institute for International Economics
August 2010

10-15: Estimates of Fundamental Equilibrium Exchange Rates, May 2010 [pdf]
by William R. Cline, Peterson Institute for International Economics
and John Williamson, Peterson Institute for International Economics
June 2010

10-8: New PPP-Based Estimates of Renminbi Undervaluation and Policy Implications [pdf]
by Arvind Subramanian, Peterson Institute for International Economics
April 2010

10-3: Confronting Asset Bubbles, Too Big to Fail, and Beggar-thy-Neighbor Exchange Rate Policies [pdf]
by Morris Goldstein, Peterson Institute for International Economics
February 2010

10-2: Notes on Equilibrium Exchange Rates: January 2010 [pdf]
by William R. Cline, Peterson Institute for International Economics
and John Williamson, Peterson Institute for International Economics
January 2010

09-22: The World Needs Further Monetary Ease, Not an Early Exit [pdf]
by Joseph E. Gagnon, Peterson Institute for International Economics
December 2009

09-21: The Future of the Dollar [pdf]
by Richard N. Cooper, Harvard University
September 2009

09-20: Why SDRs Could Rival the Dollar [pdf]
by John Williamson, Peterson Institute for International Economics
September 2009

09-11: Understanding Special Drawing Rights (SDRs) [pdf]
by John Williamson, Peterson Institute for International Economics
June 2009

09-10: 2009 Estimates of Fundamental Equilibrium Exchange Rates [pdf]
by William R. Cline, Peterson Institute for International Economics
and John Williamson, Peterson Institute for International Economics
June 2009

09-5: The Future of the Chiang Mai Initiative: An Asian Monetary Fund? [pdf]
by C. Randall Henning, Peterson Institute for International Economics
February 2009

08-7: New Estimates of Fundamental Equilibrium Exchange Rates [pdf]
by William R. Cline, Peterson Institute for International Economics
and John Williamson, Peterson Institute for International Economics
July 2008

07-8: The Case for Exchange Rate Flexibility in Oil-Exporting Economies [pdf]
by Brad Setser, Council on Foreign Relations
November 2007

07-6: Sovereign Wealth Funds: The Need for Greater Transparency and Accountability [pdf]
by Edwin M. Truman, Peterson Institute for International Economics
August 2007

07-4: Global Imbalances: Time for Action [pdf]
March 2007

06-8: Choosing Monetary Arrangements for the 21st Century: Problems of a Small Economy [pdf]
by John Williamson, Peterson Institute for International Economics
November 2006

05-1: A Currency Basket for East Asia, Not Just China [pdf]
by John Williamson, Peterson Institute for International Economics
August 2005

04-7: What Kind of Landing for the Chinese Economy? [pdf]
by Morris Goldstein, Peterson Institute for International Economics
and Nicholas R. Lardy, Peterson Institute for International Economics
November 2004

04-6: What Went Right in Japan [pdf]
by Adam S. Posen, Peterson Institute for International Economics
November 2004

03-9: EU Accession and the Euro: Close Together or Far Apart? [pdf]
by Peter B. Kenen, Princeton University
and Ellen E. Meade, London School of Economics
October 2003

01-7: The International Implications of Paying Down the Debt
by Edwin M. Truman, Peterson Institute for International Economics
May 2001

99-9: Nothing to Fear but Fear (of Inflation) Itself
by Adam S. Posen, Peterson Institute for International Economics
October 1999

99-8: Preserve the Exchange Stabilization Fund
by C. Randall Henning, Peterson Institute for International Economics
September 1999

99-3: Crawling Bands or Monitoring Bands: How to Manage Exchange Rates in a World of Capital Mobility
by John Williamson, Peterson Institute for International Economics
February 1999

98-3: Exchange Rates for the Dollar, Yen, and Euro [pdf]
by Simon Wren-Lewis, University of Exeter
July 1998


Working Papers

14-10: Versailles Redux? Eurozone Competitiveness in a Dynamic Balassa-Samuelson-Penn Framework [pdf]
by Kevin Stahler, Peterson Institute for International Economics
and Arvind Subramanian, Peterson Institute for International Economics
November 2014

14-8: Official Financial Flows, Capital Mobility, and Global Imbalances [pdf]
by Tamim Bayoumi, International Monetary Fund
and Joseph E. Gagnon, Peterson Institute for International Economics
and Christian Saborowski, International Monetary Fund
October 2014

14-5: The Federal Reserve Engages the World (1970-2000): An Insider's Narrative of the Transition to Managed Floating and Financial Turbulence [pdf]
by Edwin M. Truman, Peterson Institute for International Economics
August 2014

13-9: Asian and European Financial Crises Compared [pdf]
by Edwin M. Truman, Peterson Institute for International Economics
October 2013

13-2: The Elephant Hiding in the Room: Currency Intervention and Trade Imbalances [pdf]
by Joseph E. Gagnon, Peterson Institute for International Economics
March 2013

12-22: Assessing Potential Inflation Consequences of QE after Financial Crises [pdf]
by Samuel Reynard, Peterson Institute for International Economics
November 2012

12-19: The Renminbi Bloc Is Here: Asia Down, Rest of the World to Go? [pdf]
by Arvind Subramanian, Peterson Institute for International Economics
and Martin Kessler, Peterson Institute for International Economics
October 2012
Revised August 2013

12-15: Choice and Coercion in East Asian Exchange Rate Regimes [pdf]
by C. Randall Henning, Peterson Institute for International Economics
September 2012

12-14: Capital Account Policies and the Real Exchange Rate [pdf]
by Olivier Jeanne, Peterson Institute for International Economics
September 2012

12-13: John Williamson and the Evolution of the International Monetary System [pdf]
by Edwin M. Truman, Peterson Institute for International Economics
August 2012

12-10: The Dollar and Its Discontents [pdf]
by Olivier Jeanne, Peterson Institute for International Economics
May 2012

12-5: Global Imbalances and Foreign Asset Expansion by Developing Economy Central Banks [pdf]
by Joseph E. Gagnon, Peterson Institute for International Economics
March 2012

12-4: Spillover Effects of Exchange Rates: A Study of the Renminbi [pdf]
by Aaditya Mattoo, The World Bank
and Prachi Mishra, International Monetary Fund
and Arvind Subramanian, Peterson Institute for International Economics
March 2012

12-1: Fiscal Federalism: US History for Architects of Europe's Fiscal Union [pdf]
by C. Randall Henning, Peterson Institute for International Economics
and Martin Kessler, Peterson Institute for International Economics
January 2012

11-21: Asian Regional Policy Coordination [pdf]
by Edwin M. Truman, Peterson Institute for International Economics
December 2011

11-15: How Flexible Can Inflation Targeting Be and Still Work? [pdf]
by Kenneth N. Kuttner, Williams College
and Adam S. Posen, Peterson Institute for International Economics
September 2011

11-14: Renminbi Rules: The Conditional Imminence of the Reserve Currency Transition [pdf]
by Arvind Subramanian, Peterson Institute for International Economics
September 2011

11-5: Integrating Reform of Financial Regulation with Reform of the International Monetary System [pdf]
by Morris Goldstein, Peterson Institute for International Economics
February 2011

11-1: Current Account Imbalances Coming Back [pdf]
by Joseph E. Gagnon, Peterson Institute for International Economics
January 2011

10-16: Exchange Rate Policy in Brazil [pdf]
by John Williamson, Peterson Institute for International Economics
December 2010

10-13: The G-20 and International Financial Institution Governance [pdf]
by Edwin M. Truman, Peterson Institute for International Economics
September 2010

10-11: The Design and Effects of Monetary Policy in Sub-Saharan African Countries [pdf]
by Mohsin S. Khan, Peterson Institute for International Economics
July 2010

10-1: Estimation of De Facto Flexibility Parameter and Basket Weights in Evolving Exchange Rate Regimes [pdf]
by Jeffrey A. Frankel, Harvard University
and Daniel Danxia Xie, Peterson Institute for International Economics
January 2010

09-16: The International Monetary Fund and Regulatory Challenges [pdf]
by Edwin M. Truman, Peterson Institute for International Economics
December 2009

09-1: The GCC Monetary Union: Choice of Exchange Rate Regime [pdf]
by Mohsin S. Khan, Peterson Institute for International Economics
April 2009

08-6: Estimating Consistent Fundamental Equilibrium Exchange Rates [pdf]
by William R. Cline, Peterson Institute for International Economics
July 2008

08-3: Exchange Rate Economics [pdf]
by John Williamson, Peterson Institute for International Economics
February 2008

08-2: Currency Undervaluation and Sovereign Wealth Funds: A New Role for the World Trade Organization [pdf]
by Aaditya Mattoo, The World Bank
and Arvind Subramanian, Peterson Institute for International Economics
January 2008

07-8: Congress, Treasury, and the Accountability of Exchange Rate Policy: How the 1988 Trade Act Should Be Reformed [pdf]
by C. Randall Henning, Peterson Institute for International Economics
September 2007

07-6: Measurement and Inference in International Reserve Diversification [pdf]
by Anna Wong, University of Chicago
July 2007

07-5: A (Lack of) Progress Report on China's Exchange Rate Policies [pdf]
by Morris Goldstein, Peterson Institute for International Economics
June 2007

07-3: Do Markets Care Who Chairs the Central Bank? [pdf]
by Kenneth N. Kuttner, Williams College
and Adam S. Posen, Peterson Institute for International Economics
May 2007
Revised July 2008

06-4: The External Policy of the Euro Area: Organizing for Foreign Exchange Intervention [pdf]
by C. Randall Henning, Peterson Institute for International Economics
June 2006

06-2: The Case for an International Reserve Diversification Standard [pdf]
by Edwin M. Truman, Peterson Institute for International Economics
and Anna Wong, Peterson Institute for International Economics
May 2006

06-1: Why Central Banks Should Not Burst Bubbles [pdf]
by Adam S. Posen, Peterson Institute for International Economics
January 2006

05-6: Postponing Global Adjustment: An Analysis of the Pending Adjustment of Global Imbalances [pdf]
by Edwin M. Truman, Peterson Institute for International Economics
July 2005

05-2: China's Role in the Revived Bretton Woods System: A Case of Mistaken Identity [pdf]
by Morris Goldstein, Peterson Institute for International Economics
and Nicholas R. Lardy, Peterson Institute for International Economics
March 2005

04-1: Adjusting China's Exchange Rate Policies [pdf]
by Morris Goldstein, Peterson Institute for International Economics
June 2004

03-10: The Difficulty of Discerning What's Too Tight: Taylor Rules and Japanese Monetary Policy [pdf]
by Kenneth N. Kuttner, Oberlin College
and Adam S. Posen, Peterson Institute for International Economics
December 2003

03-6: Empirical Investigations of Inflation Targeting [pdf]
by Yifan Hu, Peterson Institute for International Economics
July 2003

03-2: Is Germany Turning Japanese? [pdf]
by Adam S. Posen, Peterson Institute for International Economics
March 2003

01-7: Beyond Bipolar: A Three-Dimensional Assessment of Monetary Frameworks [pdf]
by Kenneth N. Kuttner, Peterson Institute for International Economics
and Adam S. Posen, Peterson Institute for International Economics
July 2001

00-6: Inflation, Monetary Transparency, and G3 Exchange Rate Volatility [pdf]
by Kenneth N. Kuttner, Peterson Institute for International Economics
and Adam S. Posen, Peterson Institute for International Economics
July 2000

99-9: The Case for Joint Management of Exchange Rate Flexibility
by C. Fred Bergsten, Peterson Institute for International Economics
and Olivier Davanne, Conseil d'Analyse Economique
and Pierre Jacquet, Peterson Institute for International Economics


Testimony

Legislation to Reform the Federal Reserve on Its 100-Year Anniversary [pdf]
by Simon Johnson, Peterson Institute for International Economics
Prepared remarks submitted to the House Financial Services Committee, Hearing on "Legislation to Reform the Federal Reserve on Its 100-Year Anniversary"
July 10, 2014

European Banking Union: Current Outlook and Short-Term Choices [pdf]
by Nicolas Veron, Peterson Institute for International Economics
Statement presented at the conference "Banking Union and the Financing of the Portuguese Economy," Assembleia da Republica / Portuguese Parliament, Lisbon
February 26, 2014

International Impacts of the Federal Reserve's Quantitative Easing Program [pdf]
by Arvind Subramanian, Peterson Institute for International Economics
Prepared testimony submitted to the House Committee on Financial Services Subcommittee on Monetary Policy and Trade
January 9, 2014

Challenges of Europe's Fourfold Union [pdf]
by Nicolas Veron, Peterson Institute for International Economics
Prepared statement presented before the US Senate Committee on Foreign Relations Subcommittee on European Affairs hearing on "The Future of the Eurozone: Outlook and Lessons"
August 1, 2012

A Proposed Strategy to Correct the Chinese Exchange Rate [pdf]
by C. Fred Bergsten, Peterson Institute for International Economics
Testimony before the Hearing on the Treasury Department's Report on International Economic and Exchange Rate Policies, Committee on Banking, Housing and Urban Affairs, United States Senate
September 16, 2010

Correcting the Chinese Exchange Rate [pdf]
by C. Fred Bergsten, Peterson Institute for International Economics
Testimony before the Hearing on China’s Exchange Rate Policy, Committee on Ways and Means, US House of Representatives
September 15, 2010

China's Exchange Rate Policy and Trade Imbalances
by Nicholas R. Lardy, Peterson Institute for International Economics
Testimony before the Hearing of the Senate Committee on Banking, Housing, and Urban Affairs Subcommittee on Economic Policy
April 22, 2010

Correcting the Chinese Exchange Rate: An Action Plan
by C. Fred Bergsten, Peterson Institute for International Economics
Testimony before the Committee on Ways and Means, US House of Representatives
March 24, 2010

China's Lending Activities and the US Debt
by Simon Johnson, Peterson Institute for International Economics
Testimony submitted to the US-China Economic and Security Review Commission hearing on US Debt to China: Implications and Repercussions, Panel I: China's Lending Activities and the US Debt
February 25, 2010

The Dollar and the US Economy
by C. Fred Bergsten, Peterson Institute for International Economics
Testimony before the Committee on Financial Services, US House of Representatives
July 24, 2008

The Dollar and the Renminbi
by C. Fred Bergsten, Peterson Institute for International Economics
Statement before the Hearing on US Economic Relations with China: Strategies and Options on Exchange Rates and Market Access, Subcommittee on Security and International Trade and Finance, Committee on Banking, Housing and Urban Affairs, United States Senate
May 23, 2007

Assessing Progress on China’s Exchange Rate Policies
by Morris Goldstein, Peterson Institute for International Economics
Testimony before the Hearing on
"Risks and Reform: The Role of Currency in the US–China Relationship"
Committee on Finance, US Senate
Washington, DC
March 28, 2007

The Chinese Exchange Rate and the US Economy
by C. Fred Bergsten, Peterson Institute for International Economics
Testimony before the Hearing on the Treasury Department's Report to Congress on International Economic and Exchange Rate Policy and the Strategic Economic Dialogue Committee on Banking, Housing and Urban Affairs
January 31, 2007

The US Trade Deficit and China
by C. Fred Bergsten, Peterson Institute for International Economics
Testimony before the Hearing on US-China Economic Relations Revisited
Committee on Finance, United States Senate
March 29, 2006

Reform of the International Monetary Fund [pdf]
by C. Fred Bergsten, Peterson Institute for International Economics
Testimony before the Senate Subcommittee on International Trade and Finance
Committee on Banking, Housing, and Urban Affairs
June 7, 2005

The IMF and Exchange Rates
by C. Fred Bergsten, Peterson Institute for International Economics
Testimony before the Committee on Banking, Housing, and Urban Affairs
United States Senate
Washington, DC
May 19, 2004

United States–China Ties: Reassessing the Economic Relationship
by Nicholas R. Lardy, Peterson Institute for International Economics
Testimony before the House Committee on International Relations
US House of Representatives
Washington, DC
October 21, 2003

China's Exchange Rate Regime
by Morris Goldstein, Peterson Institute for International Economics
Testimony before the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology Committee on Financial Services
US House of Representatives
Washington, DC
October 1, 2003

The Correction of the Dollar and Foreign Intervention in the Currency Markets
by C. Fred Bergsten, Peterson Institute for International Economics
Testimony before the Committee on Small Business
United States House of Representatives
Washington, DC
June 25, 2003

Alternative Exchange Rate Systems and Reform of the International Financial Architecture
by C. Fred Bergsten, Peterson Institute for International Economics
Testimony before the Committee on Banking and Financial Services
United States House of Representatives
Washington, DC
May 21, 1999

Dollarization as Diet
by Catherine L. Mann, Peterson Institute for International Economics
Statement before a joint hearing of the Subcommittee on Economic Policy and the Subcommittee on International Trade and Finance
Committee on Banking, Housing, and Urban Affairs
United States Senate
Washington, DC
April 22, 1999

Dollarization in Emerging-Market Economies and Its Policy Implications for the United States
by C. Fred Bergsten, Peterson Institute for International Economics
Testimony before the Joint Hearing of the Subcommittee on Economic Policy and the Subcommittee on International Trade and Finance
Committee on Banking, Housing, and Urban Affairs
United States Senate
Washington, DC
April 22, 1999

Europe's Monetary Union, the United States and International Cooperation
by C. Randall Henning, Peterson Institute for International Economics
Testimony before the Subcommittee on Domestic and International Monetary Policy
Committee on Banking and Financial Services
United States House of Representatives
Washington, DC
April 18, 1998


Op-eds

George Osborne Needs to Tell Voters What Will Be Cut and When
by David G. Blanchflower, Peterson Institute for International Economics
Op-ed in the Independent
December 7, 2014

The Trans-Pacific Partnership's Missing Ingredient
by Simon Johnson, Peterson Institute for International Economics
Op-ed in Project Syndicate
October 22, 2014

Let the Bank of England Take Note: The Risks of Raising Interest Rates Too Soon Are Greater than Inflation Overshooting
by David G. Blanchflower, Peterson Institute for International Economics
Op-ed in the Independent
September 28, 2014

Keep Rates Low until the Hidden Jobless Return to Work
by Adam S. Posen, Peterson Institute for International Economics
Op-ed in the Financial Times
August 19, 2014

Is the Rupee Fairly Valued?
by Martin Kessler, Peterson Institute for International Economics
and Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Business Standard, New Delhi
June 22, 2014

Europe's Half a Banking Union
by Adam S. Posen, Peterson Institute for International Economics
and Nicolas Veron, Peterson Institute for International Economics
Op-ed in Europe's World. Reposted with permission.
June 15, 2014

The ECB Can and Should Make the ABS Market Happen
by Adam S. Posen, Peterson Institute for International Economics
Op-ed in the Financial Times
June 4, 2014

Kuroda's Plan Is Working
by Adam S. Posen, Peterson Institute for International Economics
Published in the Nikkei Asian Review
May 29, 2014

Tectonic Shifts
by Nicolas Veron, Peterson Institute for International Economics
Op-ed in Finance & Development, Vol. 51, No. 1
March 2014

Abe Has Good Medicine but Japan Needs a Stronger Dose
by Adam S. Posen, Peterson Institute for International Economics
Op-ed in the Financial Times
February 25, 2014

Group's Action Plan for Growth Will Likely Disappoint
by Edwin M. Truman, Peterson Institute for International Economics
Op-ed in the Australian Financial Review
February 25, 2014

The First Step on a Long Path Toward Normalization
by David J. Stockton, Peterson Institute for International Economics
Op-ed in Intereconomics Review of European Economic Policy, Vol. 49, no. 1. Reposted with permission.
February 2014

Emerging Markets' Victimhood Narrative
by Dani Rodrik, Institute for Advanced Study
and Arvind Subramanian, Peterson Institute for International Economics
Op-ed in Bloomberg
January 31, 2014

Europe's Institutional Mismatches Will Create More Turbulence in 2014 than in 2013
by Nicolas Veron, Peterson Institute for International Economics
Op-ed in China 2014, a special issue of the magazine Caixin
January 2014

Three Lessons of 2013: Will Politics Continue to Dominate Economics?
by Angel Ubide, Peterson Institute for International Economics
Op-ed published in El Pais as "Tres lecciones de 2013"
December 27, 2013

Our Chance to Slash the High Costs of Currency Manipulation
by C. Fred Bergsten, Peterson Institute for International Economics
Op-ed in the Financial Times
December 16, 2013

The European Central Bank's Big Moment
by Nicolas Veron, Peterson Institute for International Economics
Op-ed in Financial World, London. Reposted with permission.
December 2013

The Reserve Bank's Mission Impossible?
by Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Business Standard, New Delhi
November 18, 2013

Agent of Its Own Decline
by Adam S. Posen, Peterson Institute for International Economics
Op-ed in Prospect Magazine
November 14, 2013

Unconventional Monetary Policy: Don't Shoot the Messenger
by Joseph E. Gagnon, Peterson Institute for International Economics
Op-ed in the Economist. Reposted with permission.
November 14, 2013

Paul Krugman's Blind Spot
by Anders Aslund, Peterson Institute for International Economics
Op-ed in Foreign Policy. Reposted with permission.
November 8, 2013

From Credit to Crisis
by Nicholas Borst, Peterson Institute for International Economics
Op-ed in Caixin Online. Reposted with permission.
October 24, 2013

What Saved the Rupee?
by Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Business Standard, New Delhi
October 17, 2013

How Emerging Markets Can Get Their Mojo Back
by Robert B. Zoellick, Peterson Institute for International Economics
Op-ed in the Wall Street Journal
September 12, 2013

Are Emerging Economies Entering a Lost Decade?
by Anders Aslund, Peterson Institute for International Economics
Op-ed in Bloomberg
September 10, 2013

Germany Is Being Crushed by Its Export Obsession
by Adam S. Posen, Peterson Institute for International Economics
Op-ed in the Financial Times
September 3, 2013

Misconceptions About Fed's Bond Buying
by Joseph E. Gagnon, Peterson Institute for International Economics
Op-ed in Bloomberg
September 2, 2013

The New Fed Chair Should Not Be One of the Usual Suspects
by Edwin M. Truman, Peterson Institute for International Economics
Op-ed in the Financial Times
August 21, 2013

After Bernanke, Make Unconventional Policy the Norm
by Adam S. Posen, Peterson Institute for International Economics
Op-ed in the Financial Times
July 15, 2013

Reinhart-Rogoff: The Problem and Solutions
by Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Business Standard, New Delhi
April 23, 2013

A Dose of Reality for the Dismal Science
by Adam S. Posen, Peterson Institute for International Economics
Op-ed in the Financial Times
April 19, 2013

Three New Lessons of the Euro Crisis
by Arvind Subramanian, Peterson Institute for International Economics
Op-ed in Project Syndicate
April 8, 2013

The Prime Minister's Speech on the Economy Asserted the Incredible in Defense of the Indefensible
by David G. Blanchflower, Peterson Institute for International Economics
and Adam S. Posen, Peterson Institute for International Economics
March 10, 2013

The UK Is Very European—in Its Mistakes
by Adam S. Posen, Peterson Institute for International Economics
Op-ed in the Financial Times
February 22, 2013

Japan Should Rethink Its Stimulus
by Adam S. Posen, Peterson Institute for International Economics
Op-ed in the Financial Times
January 15, 2013

What Next? Time for a Change of Direction
by Adam S. Posen, Peterson Institute for International Economics
Excerpt posted with permission of Prospect magazine
December 13, 2012

Carney Will Gain by Exploring the Territory
by Adam S. Posen, Peterson Institute for International Economics
Op-ed in the Financial Times
November 30, 2012

China's Currency Rises in the US Backyard
by Arvind Subramanian, Peterson Institute for International Economics
and Martin Kessler, Peterson Institute for International Economics
Op-ed in the Financial Times
October 21, 2012

Time for a Fightback in the Currency Wars
by C. Fred Bergsten, Peterson Institute for International Economics
and Joseph E. Gagnon, Peterson Institute for International Economics
Op-ed in the Financial Times
September 4, 2012

Europe's Banking Union: Possible Next Steps on a Bumpy Path
by Nicolas Veron, Peterson Institute for International Economics
Op-ed in VoxEU.org
July 6, 2012

Why I Changed My Vote
by Adam S. Posen, Peterson Institute for International Economics
Op-ed in the Independent
April 19, 2012

China and India: Right Policy, Wrong Place
by Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Financial Times
January 9, 2012

For a Serious Impact, Tax Chinese Assets in the United States
by Joseph E. Gagnon, Peterson Institute for International Economics
Op-ed in U.S. News & World Report. Reposted with permission.
October 13, 2011

Coming Soon: When the Renminbi Rules the World
by Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Financial Times
September 11, 2011

Europe's Debt Crisis: Five Ways It's Been Put to Good Use
by Jacob Funk Kirkegaard, Peterson Institute for International Economics
Op-ed in the Christian Science Monitor
September 6, 2011

No Excuse for Inaction
by Adam S. Posen, Peterson Institute for International Economics
Op-ed in Reuters
August 31, 2011

Deal or No Deal, a US Downgrade Is Deserved
by Carmen M. Reinhart, Peterson Institute for International Economics
and Vincent R. Reinhart, American Enterprise Institute
Op-ed in the Financial Times
August 1, 2011

India's Inflation Mystery
by Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Business Standard, New Delhi
July 27, 2011

Now Is Not the Time to Raise Interest Rates
by Adam S. Posen, Peterson Institute for International Economics
Op-ed in the Financial Times
May 26, 2011

Taxing China's Assets: How to Increase US Employment Without Launching a Trade War
by Joseph E. Gagnon, Peterson Institute for International Economics
and Gary Clyde Hufbauer, Peterson Institute for International Economics
Op-ed in Foreign Affairs
April 25, 2011

Why the World Needs Three Global Currencies
by C. Fred Bergsten, Peterson Institute for International Economics
Op-ed in the Financial Times
February 15, 2011

Kremlin Should Focus on Inflation Targeting
by Anders Aslund, Peterson Institute for International Economics
Op-ed in the Moscow Times
January 26, 2011

Learning from Chinese Mercantilism
by Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Business Standard, New Delhi
January 25, 2011

Obama Has to Tell Beijing Some Hard Truths
by C. Fred Bergsten, Peterson Institute for International Economics
Op-ed in the Financial Times
November 29, 2010

China's Currency and the US Economy
by C. Fred Bergsten, Peterson Institute for International Economics
Op-ed in VoxEU
November 1, 2010

Patience and the Currency Wars
by Gary Clyde Hufbauer, Peterson Institute for International Economics
Op-ed in the National Interest
October 27, 2010

America Cannot Win the Currency Wars Alone
by Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Financial Times
October 20, 2010

The Fire Is Still Burning
by Adam S. Posen, Peterson Institute for International Economics
Op-ed in Handelsblatt
October 13, 2010

Who Caused the Currency Wars?
by Simon Johnson, Peterson Institute for International Economics
Op-ed in the Project Syndicate
October 13, 2010

We Can Fight Fire with Fire on the Renminbi
by C. Fred Bergsten, Peterson Institute for International Economics
Op-ed in the Financial Times
October 4, 2010

What Actions Should the Fed Be Taking?
by Joseph E. Gagnon, Peterson Institute for International Economics
Op-ed in the Economist
August 17, 2010

India's Inflation Puzzle
by Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Business Standard, New Delhi
July 28, 2010

The G-20 and "Chermany"
by Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Business Standard
June 23, 2010

New Imbalances Will Threaten Global Recovery
by C. Fred Bergsten, Peterson Institute for International Economics
Op-ed in the Financial Times
June 10, 2010

China Is the Key to Unwinding Global Imbalances
by Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Financial Times
April 20, 2010

Beijing Is Key to Creating More US Jobs
by C. Fred Bergsten, Peterson Institute for International Economics
Op-ed in Foreign Policy
April 14, 2010

Courting China
by Gary Clyde Hufbauer, Peterson Institute for International Economics
Op-ed in National Interest
April 12, 2010

The Weak Renminbi Is Not Just America’s Problem
by Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Financial Times
March 18, 2010

How Much Can China Really Diversify Its Reserves?
by Daniel H. Rosen, Peterson Institute for International Economics
Posted in the China Real Time Report, Wall Street Journal
March 17, 2010

The Greek Tragedy That Changed Europe
by Simon Johnson, Peterson Institute for International Economics
and Peter Boone, Effective Intervention
Op-ed in the Wall Street Journal
February 13, 2010

North Korea's Failed Currency Reform
by Marcus Noland, Peterson Institute for International Economics
Op-ed for BBC Online
February 5, 2010

It Is the Poor Who Pay for the Weak Renminbi
by Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Financial Times
February 3, 2010

What Globalization Strategy for India?
by Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Business Standard, New Delhi
January 27, 2010

Coordinate Capital Controls
by Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Business Standard, New Delhi
November 25, 2009

Why the Euro Is Not the Next Global Currency
by Jean Pisani-Ferry, Bruegel
and Adam S. Posen, Peterson Institute for International Economics
Op-ed in the Financial Times
October 19, 2009

The Case for Regular SDR Issues: Fixing Inconsistency in Balance-of-Payments Targets
by John Williamson, Peterson Institute for International Economics
Op-ed in VoxEU.org
October 2, 2009

The Ruble as a Global Reserve Currency? No!
by Anders Aslund, Peterson Institute for International Economics
Op-ed in the Moscow Times
September 23, 2009

How To Prevent an Unruly Rush for the Exit
by Adam S. Posen, Peterson Institute for International Economics
Op-ed in the Financial Times
September 17, 2009

Control High Inflation, Not Exchange Rates
by Anders Aslund, Peterson Institute for International Economics
Op-ed in the Moscow Times
August 26, 2009

America Cannot Resolve Global Imbalances on Its Own
by C. Fred Bergsten, Peterson Institute for International Economics
and Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Financial Times
August 19, 2009

China's Dollar Delusion
by Swaminathan Aiyar, Cato Institute
and Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Guardian
July 8, 2009

We Risk Calamity unless China Safely Offloads Unwanted Dollars
by C. Fred Bergsten, Peterson Institute for International Economics
Letter to the Editor of the Financial Times
April 22, 2009

We Should Listen to Beijing's Currency Idea
by C. Fred Bergsten, Peterson Institute for International Economics
Op-ed in the Financial Times
April 8, 2009

Is China Having It Both Ways?
by Arvind Subramanian, Peterson Institute for International Economics
Post on the Wall Street Journal's Real Time Economics
March 25, 2009

From Financial Folly to Trade Troubles?
by Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Business Standard, New Delhi
December 24, 2008

Imbalances and Undervalued Exchange Rates: Rehabilitating Keynes
by Arvind Subramanian, Peterson Institute for International Economics
Post on the Financial Times' Economists' Forum
November 9, 2008

Volcker-Reagan Rerun [pdf]
by Adam S. Posen, Peterson Institute for International Economics
Op-ed in the column "The Monetary Realist" in the International Economy
August 22, 2008

A Global Approach Is Needed to Beat Inflation
by Adam S. Posen, Peterson Institute for International Economics
and Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Financial Times
August 21, 2008

China's Currency Needs to Rise Further
by Morris Goldstein, Peterson Institute for International Economics
and Nicholas R. Lardy, Peterson Institute for International Economics
Op-ed in the Financial Times
July 22, 2008

Inflation's Sunspots Stain Economic Successes in Post-Communist Region
by Anders Aslund, Peterson Institute for International Economics
Op-ed in the Moscow Times
June 25, 2008

Who Needs Inflation Targeting?
by Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Business Standard, New Delhi
April 22, 2008

Floating the Hryvnia Arms the National Bank to Fight Inflation Now
by Anders Aslund, Peterson Institute for International Economics
Op-ed in the Kyiv Post
April 3, 2008

Will Dollar Revive Following Dive?
by Claire Brunel, Peterson Institute for International Economics
and Doug Dowson, Peterson Institute for International Economics
Op-ed in the Omaha World-Herald
December 30, 2007

Objections Do Not Invalidate Substitution Account Benefits
by C. Fred Bergsten, Peterson Institute for International Economics
Letter to the editor in the Financial Times in response to letter
by International Monetary Fund (IMF) historian James M. Boughton
December 28, 2007

The Renminbi: The Panda in the Room
by Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Business Standard, New Delhi
December 28, 2007

How to Solve the Problem of the Dollar
by C. Fred Bergsten, Peterson Institute for International Economics
Op-ed in the Financial Times
December 11, 2007

Not Yet for the Euro
by Adam S. Posen, Peterson Institute for International Economics
Op-ed in Welt am Sonntag
December 5, 2007

Europe Must Look East to Deal with the Euro
by C. Fred Bergsten, Peterson Institute for International Economics
Op-ed in the Financial Times
October 11, 2007

Exchange Rate Management: Reassuring Politics, Reasonable Economics
by Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Business Standard, New Delhi
July 27, 2007

Rupee Appreciation: Lessons from China
by Arvind Subramanian, Peterson Institute for International Economics
Op-ed in Business Standard, New Delhi
May 22, 2007

Overheating, Exchange Rates, and Foreign Capital
by Arvind Subramanian, Peterson Institute for International Economics
Op-ed in Business Standard
May 10, 2007

What's In A Name?
by Adam S. Posen, Peterson Institute for International Economics
Op-ed in The International Economy
April 21, 2007

The Virtues of Self-Restraint
by Adam S. Posen, Peterson Institute for International Economics
Op-ed in Central Banking (XVII: 4)
April 18, 2007

The Yen Beckons China’s Dollars
by C. Fred Bergsten, Peterson Institute for International Economics
Op-ed in the Financial Times
March 12, 2007

Exchange Rates, Fair Play, and the "Grand Bargain"
by Morris Goldstein, Peterson Institute for International Economics
Op-ed in the Financial Times
April 21, 2006

A New Way to Deal with the Renminbi
by Morris Goldstein, Peterson Institute for International Economics
and Nicholas R. Lardy, Peterson Institute for International Economics
Op-ed in the Financial Times
January 20, 2006

The Fund Appears to Be Sleeping at the Wheel
by Morris Goldstein, Peterson Institute for International Economics
and Michael Mussa, Peterson Institute for International Economics
Op-ed in the Financial Times
October 3, 2005

A Clash of the Titans Could Hurt Us All
by C. Fred Bergsten, Peterson Institute for International Economics
Op-ed in the Financial Times
August 25, 2005

China's Revaluation Shows Size Really Matters
by Morris Goldstein, Peterson Institute for International Economics
and Nicholas R. Lardy, Peterson Institute for International Economics
Op-ed in the Financial Times
July 22, 2005

The Fed Must Be Open About Applying the Brakes
by Edwin M. Truman, Peterson Institute for International Economics
Op-ed in the Financial Times
May 2, 2005

When the Dollar Bill Comes Due
by Catherine L. Mann, Peterson Institute for International Economics
and Katharina Plück, Peterson Institute for International Economics
Op-ed
April 27, 2005

An Action Plan to Stop the Market Manipulators Now
by C. Fred Bergsten, Peterson Institute for International Economics
Op-ed in the Financial Times
March 14, 2005

A Faulty Strategy Weakens China's Prospects
by Morris Goldstein, Peterson Institute for International Economics
and Nicholas R. Lardy, Peterson Institute for International Economics
Op-ed in the Financial Times
March 4, 2005

The Dollar Dance
by Morris Goldstein, Peterson Institute for International Economics
Op-ed in The Baltimore Sun
December 20, 2004

Don't Push China Too Hard
by Marcus Noland, Peterson Institute for International Economics
Op-ed in the Far Eastern Economic Review
October 21, 2004

Bubbles Are Getting Blown Out of All Proportion
by Adam S. Posen, Peterson Institute for International Economics
Op-ed in the Financial Times
September 8, 2004

Avoiding a Currency War [pdf]
by Adam S. Posen, Peterson Institute for International Economics
Op-ed in the International Economy
September 2004

Currency Manipulation
by Morris Goldstein, Peterson Institute for International Economics
Op-ed published in Korean in JoongAng Ilbo
December 9, 2003
and in English in JoongAng Daily
December 11, 2003

The Exchange Rate of the Won
by C. Fred Bergsten, Peterson Institute for International Economics
Op-ed in JoongAng Ilbo
October 2003

Two-Stage Currency Reform for China
by Morris Goldstein, Peterson Institute for International Economics
and Nicholas R. Lardy, Peterson Institute for International Economics
Op-ed from the Asian Wall Street Journal
September 12, 2003

A Modest Proposal for China's Renminbi
by Morris Goldstein, Peterson Institute for International Economics
and Nicholas R. Lardy, Peterson Institute for International Economics
Op-ed from the Financial Times
August 26, 2003

Inflation Must Become Europe's Target
by Edwin M. Truman, Peterson Institute for International Economics
Op-ed in the Financial Times
December 17, 2002


Speeches and Papers

Fiscal and Macro-structural Challenges and Policy Recommendations for the Euro Area and Its Member States under the 2014 Semester Cycle [pdf]
by Jacob Funk Kirkegaard, Peterson Institute for International Economics
Briefing submitted in advance of the Economic Dialogue
with the President of the Eurogroup in the Committee on Economic and Monetary Affairs (ECON). Reposted with permission [pdf].
September 4, 2014

Currency Wars and the International Economic Order [pdf]
by C. Fred Bergsten, Peterson Institute for International Economics
Lecture delivered at the Stockholm School of Economics, Stockholm, Sweden
August 22, 2014

Unconventional Monetary Policies—Recent Experiences, Impact, and Lessons [pdf]
by Angel Ubide, Peterson Institute for International Economics
Published in Monetary Policy after the Great Recession, ed. Javier Vallés, 2014, Madrid: Fundación de las Cajas de Ahorros (Funcas)
July 2014

Reflections on Central Banking: That Is Where the Money Is [pdf]
by Edwin M. Truman, Peterson Institute for International Economics
Remarks at Boston Economic Club, Boston, MA
June 17, 2014

An Old School Proposal to Meet Monetary Policy Requirements in the Current Financial Environment
by Adam S. Posen, Peterson Institute for International Economics
Remarks delivered at the first annual European Central Bank (ECB) Forum on Central Banking, in Sintra, Portugal, on the panel "Monetary Policy and Balance Sheet Adjustment."
May 27, 2014

Bridging the North-South Divide in the Euro Area [pdf]
by Angel Ubide, Peterson Institute for International Economics
Remarks to the Euro50 Group Meeting in Brussels
March 28, 2014

The Yin and Yang of the European Sovereign Debt Crisis [pdf]
by Andreas Dombret, Executive Board of the Deutsche Bundesbank
October 17, 2013

Economic Reforms in the Euro Area: Fiscal and Macro-structural Challenges [pdf]
by Jacob Funk Kirkegaard, Peterson Institute for International Economics
September 5, 2013

Currency Wars, the Economy of the United States, and Reform of the International Monetary System [pdf]
by C. Fred Bergsten, Peterson Institute for International Economics
May 15, 2013

All about Interest Rates [pdf]
by Nicholas R. Lardy, Peterson Institute for International Economics
Article published in the China Economic Quarterly. Reposted with permission.
March 2013

Currency Wars [pdf]
by Joseph E. Gagnon, Peterson Institute for International Economics
Originally published in the Milken Institute Review. Reposted with permission.
January 2013

Reflections on Reserve Management and International Monetary Cooperation [pdf]
by Edwin M. Truman, Peterson Institute for International Economics
Remarks delivered at the World Bank/Bank for International Settlements Joint Fourth Public Investors' Conference
December 3, 2012

Designing Economic Policymaking [pdf]
by John Williamson, Peterson Institute for International Economics
Transcript of presentation delivered at the Festschrift event Global Economics in Extraordinary Times: Essays in Honor of John Williamson
November 1, 2012

The Washington Consensus [pdf]
by Stanley Fischer, Bank of Israel
Transcript of keynote address delivered at the Festschrift event Global Economics in Extraordinary Times: Essays in Honor of John Williamson
November 1, 2012

The Dollar and US Power [pdf]
by John Williamson, Peterson Institute for International Economics
Paper presented at the conference "Currencies of Power and the Power of Currencies" organized by the International Institute of Strategic Studies in Bahrain from September 29, 2012 to October 2, 2012
October 2, 2012

Comments on "Methods of Policy Accommodation at the Interest-Rate Lower Bound" by Michael Woodford [pdf]
by Adam S. Posen, Peterson Institute for International Economics
Presented at the Federal Reserve Bank of Kansas City (FRBKC) Economic Policy Symposium on the Changing Policy Landscape, Jackson Hole, WY
August 31, 2012

Making the Most of Doing More [pdf]
by Adam S. Posen, Peterson Institute for International Economics
Speech given by Adam S. Posen at the Barclay's "Short end rates" seminar in London
June 11, 2012

Europe's Economic Agenda: Restoring Confidence, Fostering Growth
by Olli Rehn, European Commissioner for Economic and Monetary Affairs
Prepared remarks delivered at a Peterson Institute event
September 22, 2011

The United States in the World Economy
by C. Fred Bergsten, Peterson Institute for International Economics
Speech delivered at the Chautauqua Lecture Series, "The US Economy: Beyond a Quick Fix"
August 12, 2011

The Future of the Euro Area
by Edwin M. Truman, Peterson Institute for International Economics
Remarks at the conference "Europe's Place in a Turbulent World" at the Brookings Institution, Washington, DC
May 26, 2011

The Euro Payoff: Germany's Economic Advantages from a Large and Diverse Euro Area
by Adam S. Posen, Peterson Institute for International Economics
Paper in Internationale Politik—Global Edition, March/April 2011
March 3, 2011

Do We Know What We Need to Know in Order to Lean Against the Wind? [pdf]
by Adam S. Posen, Peterson Institute for International Economics
Speech presented at the Cato Institute's 28th Annual Monetary Conference, Washington, DC
November 18, 2010

Monetary Ease and Global Rebalancing: Debunking the Japanese Scare Story [pdf]
by Adam S. Posen, Peterson Institute for International Economics
October 26, 2010

From Convoy to Parting Ways? Post-crisis Divergence Between European and US Macroeconomic Policies [pdf]
by Jean Pisani-Ferry, Bruegel
and Adam S. Posen, Peterson Institute for International Economics
Paper presented at the conference The Transatlantic Relationship in an Era of Growing Economic Multipolarity held at the Peterson Institute for International Economics
October 8, 2010

When Central Banks Buy Bonds: Independence and the Power to Say No [pdf]
by Adam S. Posen, Peterson Institute for International Economics
Speech presented at Barclays Capital 14th Annual Global Inflation-Linked Conference, New York
June 14, 2010

Asia's Recovery and Macroeconomic Policy Challenges
by Jong-Wha Lee, Asian Development Bank
Prepared remarks delivered at the release event for the Asian Development Outlook 2010
April 19, 2010

Multilateral Approaches to Global Challenges
by Svein Gjedrem, Governor of the Central Bank of Norway
Prepared remarks delivered at an event held at the Peterson Institute for International Economics, Washington, DC
February 25, 2010

Confronting Asset Bubbles, Too Big to Fail, and Beggar-thy-Neighbor Exchange Rate Policies [pdf]
by Morris Goldstein, Peterson Institute for International Economics
Paper based on remarks delivered on December 15, 2009, at the workshop on "The International Monetary System: Looking to the Future, Lessons from the Past" sponsored by the International Monetary Fund and the UK Economic and Research Council
February 2010

Finding the Right Tool for Dealing with Asset Price Booms [pdf]
by Adam S. Posen, Peterson Institute for International Economics
Speech to the MPR Monetary Policy and the Markets Conference, London
December 1, 2009

Lessons from the Global Economic and Financial Crisis [pdf]
by Edwin M. Truman, Peterson Institute for International Economics
Keynote address at the conference "G-20 Reform Initiatives: Implications for the Future of Regulation," cohosted by the Institute for Global Economics and the International Monetary Fund in Seoul, Korea
November 11, 2009

The Dollar and the Deficits: How Washington Can Prevent the Next Crisis
by C. Fred Bergsten, Peterson Institute for International Economics
Article in Foreign Affairs, Volume 88 No. 6, November/December 2009
November 2009

Getting Credit Flowing: A Non-Monetarist Approach to Quantitative Easing [pdf]
by Adam S. Posen, Peterson Institute for International Economics
Speech presented at the Dean's Lecture Series, Cass Business School, London
October 2009

China's Undervalued Currency [pdf]
by Nicholas R. Lardy, Peterson Institute for International Economics
Transcript from Peterson Perspectives: Interviews on Current Issues
July 21, 2009

The Dangers of an Overvalued Dollar [pdf]
by John Williamson, Peterson Institute for International Economics
Transcript from Peterson Perspectives: Interviews on Current Issues
June 3, 2009

Geithner in China: What Are the Prospects? [pdf]
by Nicholas R. Lardy, Peterson Institute for International Economics
Transcript from Peterson Perspectives: Interviews on Current Issues
May 28, 2009

The Gulf Cooperation Council: A New Global Force? [pdf]
by Mohsin S. Khan, Peterson Institute for International Economics
Transcript from Peterson Perspectives: Interviews on Current Issues
April 22, 2009

A New Asian Monetary Giant? [pdf]
by C. Randall Henning, Peterson Institute for International Economics
Transcript from Peterson Perspectives: Interviews on Current Issues
February 27, 2009

Is China a Currency “Manipulator”? [pdf]
by Morris Goldstein, Peterson Institute for International Economics
Transcript from Peterson Perspectives: Interviews on Current Issues
January 28, 2009

The Perils of “New Mercantilism” [pdf]
by Arvind Subramanian, Peterson Institute for International Economics
Transcript from Peterson Perspectives: Interviews on Current Issues
January 14, 2009

Incremental Steps Toward a Radical Solution [pdf]
by Simon Johnson, Peterson Institute for International Economics
Transcript from Peterson Perspectives: Interviews on Current Issues
December 16, 2008

A Call for an "Asian Plaza" [pdf]
by C. Fred Bergsten, Peterson Institute for International Economics
Article in the International Economy
May 2008

It's Not Just About the Money [pdf]
by Adam S. Posen, Peterson Institute for International Economics
Article in the International Economy
May 2008

Global Imbalances and Currency Misalignments
by C. Fred Bergsten, Peterson Institute for International Economics
Outline of remarks at the World Economic Forum, Davos, Switzerland
January 2008

A Scoreboard for Sovereign Wealth Funds [pdf]
by Edwin M. Truman, Peterson Institute for International Economics
Paper presented at the conference on China's Exchange Rate Policy
Peterson Institute
Washington, DC
October 19, 2007

China's Exchange Rate Policy: An Overview of Some Key Issues [pdf]
by Morris Goldstein, Peterson Institute for International Economics
and Nicholas R. Lardy, Peterson Institute for International Economics
Paper presented at the conference on China's Exchange Rate Policy
Peterson Institute
Washington, DC
October 19, 2007

Estimates of the Equilibrium Exchange Rate of the Renminbi: Is There a Consensus and, If Not, Why Not? [pdf]
by William R. Cline, Peterson Institute for International Economics
and John Williamson, Peterson Institute for International Economics
Paper presented at the conference on China's Exchange Rate Policy
Peterson Institute
Washington, DC
October 19, 2007

IMF Surveillance over China's Exchange Rate Policy [pdf]
by Michael Mussa, Peterson Institute for International Economics
Paper presented at the conference on China's Exchange Rate Policy
Peterson Institute
Washington, DC
October 19, 2007

Monetary Policy Independence, the Currency Regime, and the Capital Account in China [pdf]
by Eswar S. Prasad, Cornell University
Paper presented at the conference on China's Exchange Rate Policy
Peterson Institute
Washington, DC
October 19, 2007

Rebalancing China's Growth [pdf]
by Bert Hofman, World Bank
and Louis Kuijs, World Bank
Paper presented at the conference on China's Exchange Rate Policy
Peterson Institute
Washington, DC
October 19, 2007

The Influence of the Renminbi on Exchange Rate Policy in Other Economies [pdf]
by Takatoshi Ito, University of Tokyo
Paper presented at the conference on China's Exchange Rate Policy
Peterson Institute
Washington, DC
October 19, 2007

The Management of China's International Reserves: China and a Sovereign Wealth Fund Scoreboard [pdf]
by Edwin M. Truman, Peterson Institute for International Economics
Paper presented at the conference on China's Exchange Rate Policy
Peterson Institute
Washington, DC
October 19, 2007

The US Congress and the Chinese Yuan [pdf]
by Gary Clyde Hufbauer, Peterson Institute for International Economics
and Claire Brunel, Peterson Institute for International Economics
Paper presented at the conference on China's Exchange Rate Policy
Peterson Institute
Washington, DC
October 19, 2007

The Role of US and EU Financial Markets in the Global Economy
by Edwin M. Truman, Peterson Institute for International Economics
Remarks at the conference "The Euro and the Dollar: Pillars in Global Finance"
Federal Reserve Bank of New York
April 17, 2007

Capital Account Convertibility: A Neglected Consideration [pdf]
by Arvind Subramanian, Peterson Institute for International Economics
Paper presented at the Center for Policy Research, New Delhi, India
April 2007

Meade's Analysis and Today's Global Imbalances [pdf]
by John Williamson, Peterson Institute for International Economics
Lecture delivered at Cambridge University
November 21, 2006

Paulson's First Challenge [pdf]
by Morris Goldstein, Peterson Institute for International Economics
Article in The International Economy
August 2006

Clash of the Titans
by C. Fred Bergsten, Peterson Institute for International Economics
Article in Newsweek, International Edition
April 24, 2006

Renminbi Controversies [pdf]
by Morris Goldstein, Peterson Institute for International Economics
Paper prepared for the Conference on Monetary Institutions and Economic Development
Cato Institute
November 3, 2005
Revised December 2005

The Trans-Pacific Imbalance: A Disaster in the Making? [pdf]
by C. Fred Bergsten, Peterson Institute for International Economics
Speech at the 16th General Meeting of the Pacific Economic Cooperation Council (PECC) Seoul, South Korea
September 7, 2005

The End of Large Current Account Deficits, 1970-2002: Are There Lessons for the United States? [pdf]
by Catherine L. Mann, Peterson Institute for International Economics
Paper in the symposium volume The Greenspan Era: Lessons for the Future, a symposium sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming
August 2005

The Rise of the Euro: Currency Is Emerging as Rival to the Dollar
by Adam S. Posen, Peterson Institute for International Economics
Article in The Ripon Forum
July 2005

Swiss National Bank Sales—Lessons and Experiences [pdf]
by Philipp M. Hildebrand, Swiss National Bank
Speech at a luncheon at the Institute for International Economics
May 5, 2005

The Euro and the World Economy [pdf]
by C. Fred Bergsten, Peterson Institute for International Economics
Speech at a conference on "The Eurosystem, the Union and Beyond: The Single Currency and Implications for Governance"
European Central Bank
Frankfurt am Main, Germany
April 27, 2005

The Potential of International Policy Coordination
by John Williamson, Peterson Institute for International Economics
Paper for "Implications for the IMF's Role in Surveillance and Policy Coordination"
Roundtable on International Economic Cooperation for a Balanced World Economy
Chongqing, China
March 12-13, 2005

Reflections [pdf]
by Edwin M. Truman, Peterson Institute for International Economics
Article on the Federal Open Market Committee (FOMC)
Federal Reserve Bank of St. Louis Review
March-April 2005

A Revived Bretton Woods System? Implications for Europe and the United States
by Edwin M. Truman, Peterson Institute for International Economics
Speech at the conference "Revived Bretton Woods System: A New Paradigm for Asian Development?"
Federal Reserve Bank of San Francisco
February 4, 2005

Breaking Up Is Hard To Do: Global Co-dependency, Collective Action, and the Challenges of Global Adjustment [pdf]
by Catherine L. Mann, Peterson Institute for International Economics
Article published in the CESifo Forum
January 2005

The Choice of Exchange Rate Regime: The Relevance of International Experience to China's Decision [pdf]
by John Williamson, Peterson Institute for International Economics
Outline of a lecture at a conference on exchange rates organized by the Central University of Finance and Economics
Beijing, China
September 7, 2004

The Fourth Generation of Central Banking
by Adam S. Posen, Peterson Institute for International Economics
Article in Euromoney
September 2004

Managing Exchange Rates: Achievement of Global Re-balancing or Evidence of Global Co-dependency [pdf]
by Catherine L. Mann, Peterson Institute for International Economics
Article in Business Economics
July 2004

The Renminbi Exchange Rate and the Global Monetary System
by John Williamson, Peterson Institute for International Economics
Outline of a lecture delivered at the Central University of Finance and Economics
Beijing, China
October 29, 2003

North American Monetary and Financial Integration: Notes on the US Perspective
by Edwin M. Truman, Peterson Institute for International Economics
Paper presented at a meeting of the
Study Group on North American Monetary and Financial Integration
Montreal, Canada
December 13, 2002

Did the Washington Consensus Fail?
by John Williamson, Peterson Institute for International Economics
Outline of speech at the Center for Strategic & International Studies
Washington, DC
November 6, 2002

What Washington Means by Policy Reform
by John Williamson, Peterson Institute for International Economics
Chapter 2 from Latin American Adjustment: How Much Has Happened?
Edited by John Williamson. Published April 1990.
November 2002

Economic Policy and Exchange Rate Regimes: What Have We Learned in the Ten Years since Black Wednesday?
by Edwin M. Truman, Peterson Institute for International Economics
Speech at the European Monetary Symposium
London School of Economics
London, England
September 16, 2002

Beware Policy Overreactions: Managing Changing Macroeconomic Conditions in Japan and the United States
by Adam S. Posen, Peterson Institute for International Economics
Speech to Keizai Koho Center
Think Tankers' Symposium
Tokyo, Japan
January 17, 2001

Designing a Middle Way between Fixed and Flexible Exchange Rates
by John Williamson, Peterson Institute for International Economics
Paper presented to a conference on
"Monetary and Exchange Rate Policies: Options for Egypt"
Egyptian Center for Economic Studies
Cairo, Egypt
November 19-20, 2000

Dollarization Does Not Make Sense Everywhere
by John Williamson, Peterson Institute for International Economics
Revised outline of remarks on "To Dollarize or Not to Dollarize: Exchange-Rate Choices for the Western Hemisphere"
North-South Institute
Ottawa, Canada
October 4-5, 2000

Modernizing the International Financial Architecture: Big Outstanding Issues
by John Williamson, Peterson Institute for International Economics
Outline of a presentation at the inaugural session of the Centro Brasileiro de Relacoes Internacionais
Rio de Janeiro, Brazil
September 15, 2000

A More Focused IMF
by John Williamson, Peterson Institute for International Economics
Outline of a presentation at a conference on "The Future of the Bretton Woods Institutions: The European Contribution to the Debate on the New Financial Architecture"
Organized by the American Council on Germany and the Reinventing Bretton Woods Committee
Paris, France
September 13, 2000

The Coming Rise of the Euro
by C. Fred Bergsten, Peterson Institute for International Economics
Speech given before the World Economic Forum
Davos, Switzerland
January 28, 2000

Are Intermediate Regimes Vanishing?
by John Williamson, Peterson Institute for International Economics
Speech given at the international conference on "Exchange Rate Regimes in Emerging Market Economies"
Tokyo, Japan
December 17-18, 1999

Future Exchange Rate Regimes for Developing East Asia: Exploring the Policy Options
by John Williamson, Peterson Institute for International Economics
Paper presented to a conference on "Asia in Economic Recovery: Policy Options for Growth and Stability"
Organized by the Institute of Policy Studies
Singapore
June 21-22, 1999

The International Monetary System: Facing the Challenge of Globalization
by Eduard Balladur
Presented at the Institute for International Economics
Washington, DC
May 25, 1999

The Decline of the Dollar
by C. Fred Bergsten, Peterson Institute for International Economics
Speech given before the World Economic Forum
Davos, Switzerland
January 29, 1999

How to Target Exchange Rates: G7 Countries Should Allow Their Currencies to Fluctuate within Agreed EMS-Style Ranges
by C. Fred Bergsten, Peterson Institute for International Economics
Article published in the Financial Times
November 20, 1998

Crawling Bands or Monitoring Bands: How to Manage Exchange Rates in a World of Capital Mobility
by John Williamson, The World Bank
Article from International Finance
October 1998

Monetary Transparency in a Time of Change
by Adam S. Posen, Peterson Institute for International Economics
Statement at the National Association of Business Economists Annual Meeting
September 17, 1997

The Dollar and the Euro
by C. Fred Bergsten, Peterson Institute for International Economics
Reprinted from Foreign Affairs
July-August 1997

The Case for a Common Basket Peg for East Asian Currencies
by John Williamson, Peterson Institute for International Economics
Paper presented to a conference on "Exchange Rate Policies in Emerging Asian Countries: Domestic and International Aspects"
Association for the Monetary Union of Europe
and the Korea Institute of Finance
November 15-16, 1996

The Management of Capital Inflows
by John Williamson, Peterson Institute for International Economics
Paper published in Pensamiento Iberoamericano
January-June 1995


PIIE Briefings

14-5: Rebuilding Europe's Common Future: Combining Growth and Reform in the Euro Area [pdf]
by Adam S. Posen, Peterson Institute for International Economics
and Ajai Chopra, Peterson Institute for International Economics
and Angel Ubide, Peterson Institute for International Economics
and Paolo Mauro, Peterson Institute for International Economics
and Jacob Funk Kirkegaard, Peterson Institute for International Economics
and Nicolas Veron, Peterson Institute for International Economics
December 2014

14-4: Lessons from Decades Lost: Economic Challenges and Opportunities Facing Japan and the United States [pdf]
by William R. Cline, Peterson Institute for International Economics
and Kyoji Fukao, Institute of Economic Research, Hitotsubashi University
and Tokuo Iwaisako, Institute of Economic Research, Hitotsubashi University
and Kenneth N. Kuttner, Williams College
and Adam S. Posen, Peterson Institute for International Economics
and Jeffrey J. Schott, Peterson Institute for International Economics
December 2014

14-2: The US-China-Europe Economic Reform Agenda [pdf]
by Nicholas Borst, Peterson Institute for International Economics
and Nicholas R. Lardy, Peterson Institute for International Economics
and Cullen S. Hendrix, Peterson Institute for International Economics
and Marcus Noland, Peterson Institute for International Economics
and Ryan Rutkowski, Peterson Institute for International Economics
and Arvind Subramanian, Peterson Institute for International Economics
and Nicolas Veron, Peterson Institute for International Economics
Papers presented at the third annual China-US Economists Symposium in Beijing
May 17-18, 2014

14-1: Flirting with Default: Issues Raised by Debt Confrontations in the United States [pdf]
by Joseph E. Gagnon, Peterson Institute for International Economics
and Anna Gelpern, Peterson Institute for International Economics
and Tomas Hellebrandt, Peterson Institute for International Economics
and Adam S. Posen, Peterson Institute for International Economics
and Douglas A. Rediker, Peterson Institute for International Economics
and David J. Stockton, Peterson Institute for International Economics
and Kent Troutman, Peterson Institute for International Economics
and Angel Ubide, Peterson Institute for International Economics
February 2014


Books

Managing the Euro Area Debt Crisis
by William R. Cline
June 2014

Global Economics in Extraordinary Times: Essays in Honor of John Williamson
edited by C. Fred Bergsten and C. Randall Henning
November 2012

Devaluing to Prosperity: Misaligned Currencies and Their Growth Consequences
by Surjit S. Bhalla
August 2012

Who Needs to Open the Capital Account?
by Olivier Jeanne , Arvind Subramanian and John Williamson
April 2012

Flexible Exchange Rates for a Stable World Economy
by Joseph E. Gagnon assisted by Marc Hinterschweiger
October 2011

The Euro at Ten: The Next Global Currency?
edited by Jean Pisani-Ferry and Adam S. Posen
July 2009

The Future of China's Exchange Rate Policy
by Morris Goldstein and Nicholas R. Lardy
July 2009

China's Rise: Challenges and Opportunities (hardcover)
by C. Fred Bergsten , Charles Freeman , Nicholas R. Lardy and Derek J. Mitchell
September 2008

Accountability and Oversight of US Exchange Rate Policy
by C. Randall Henning
June 2008

Debating China's Exchange Rate Policy
edited by Morris Goldstein and Nicholas R. Lardy
April 2008

Reference Rates and the International Monetary System
by John Williamson
January 2007

Curbing the Boom-Bust Cycle: Stabilizing Capital Flows to Emerging Markets
by John Williamson
July 2005

The Euro at Five: Ready for a Global Role?
edited by Adam S. Posen
April 2005

Exchange Rate Regimes in East Asia

March 2005

Dollar Adjustment: How Far? Against What?
edited by C. Fred Bergsten and John Williamson
November 2004

Bailouts or Bail-ins? Responding to Financial Crises in Emerging Economies
by Nouriel Roubini and Brad Setser
August 2004

Controlling Currency Mismatches in Emerging Markets
by Morris Goldstein and Philip Turner
April 2004

Inflation Targeting in the World Economy
by Edwin M. Truman
October 2003

After the Washington Consensus: Restarting Growth and Reform in Latin America
edited by Pedro-Pablo Kuczynski and John Williamson
March 2003

Dollar Overvaluation and the World Economy
edited by C. Fred Bergsten and John Williamson
February 2003

East Asian Financial Cooperation
by C. Randall Henning
October 2002

Argentina y el FMI: Del triunfo a la tragedia
by Michael Mussa
August 2002 (Out-of-Print)

Argentina and the Fund: From Triumph to Tragedy
by Michael Mussa
July 2002

Managed Floating Plus
by Morris Goldstein
March 2002

World Capital Markets: Challenge to the G-10
by Wendy Dobson and Gary Clyde Hufbauer assisted by Hyun Koo Cho
May 2001

Exchange Rate Regimes for Emerging Markets: Reviving the Intermediate Option
by John Williamson
September 2000

Global Economic Effects of the Asian Currency Devaluations
by Li-Gang Liu , Sherman Robinson , Zhi Wang and Marcus Noland
July 1998

Real Exchange Rates for the Year 2000
by Simon Wren-Lewis and Rebecca Driver with contributions from John Williamson and Molly Mahar
May 1998

Cooperating with Europe's Monetary Union
by C. Randall Henning
May 1997

The Case for an International Banking Standard
by Morris Goldstein
April 1997

The Crawling Band as an Exchange Rate Regime: Lessons from Chile, Colombia, and Israel
by John Williamson
September 1996

What Role for Currency Boards?
by John Williamson
September 1995

Currencies and Politics in the United States, Germany, and Japan
by C. Randall Henning
September 1994

Estimating Equilibrium Exchange Rates
edited by John Williamson
September 1994

Does Foreign Exchange Intervention Work?
by Kathryn M. Dominguez and Jeffrey A. Frankel
September 1993