The Peterson Institute for International Economics (PIIE) is a private, nonpartisan nonprofit institution for rigorous, intellectually open, and indepth study and discussion of international economic policy. Its purpose is to identify and analyze important issues to make globalization beneficial and sustainable for the people of the United States and the world and then develop and communicate practical new approaches for dealing with those issues.
The Institute attempts to anticipate emerging issues and to be ready with practical ideas, presented in useful, accessible formats, to inform and shape public debate. Its audience includes government officials and legislators, business and labor leaders, management and staff at international organizations, university-based scholars and their students, experts at other research institutions and nongovernmental organizations, the media, and the public at large.
Our staff of about 70 includes 20 senior researchers, as well as 15 nonresident fellows, all distinguished for their combination of research expertise and policy experience. The Institute’s agenda emphasizes international trade and investment, international finance and exchange rates, macroeconomic policy and crisis response, globalization and human welfare, and studies of key economic regions. Institute staff have unique expertise on the major economies with special reference to China, the European Union, India, Japan, Korea, Russia, and the Middle East, as well as the United States itself and its neighbors Canada and Mexico.
Current priorities include:
- improving macroeconomic policy after the global financial crisis;
- truth telling about the benefits of globalization and the costs of closed economies;
- the rebalancing of China’s growth model and its impact on the world economy;
- globalization, inequality, and labor market adjustment;
- exchange rate interventions and reform of the international monetary system;
- regional trade agreements and multinational investment, notably the Trans-Pacific Partnership (TPP); practical growth models for Europe, Japan, and the United States; and
- financial stability, including cost-benefit analysis of global regulation.
Our research has helped provided the intellectual foundation for many major international policy initiatives of the past three and a half decades:
- reforms of the International Monetary Fund (IMF), initiated by the G-20 in 2009–10;
- reform of US sanctions policy;
- quantitative easing and adapting monetary policy to a low interest rate world;
- creation of the Asia Pacific Economic Cooperation (APEC) forum and the TPP initiative;
- initiation and implementation of the Strategic and Economic Dialogue between the United States and China;
- the North American Free Trade Agreement (NAFTA) and other US free trade agreements (notably with Korea);
- adoption of international banking standards and broader financial regulatory reforms;
- countercyclical fiscal policy and increased female labor force participation in Japan;
- the restoration of trade promotion authority in the United States; and
- linking fiscal stimulus and structural reform in the euro area.
Other influential analyses have addressed:
- economic reform in the European Union, the former communist countries, and Latin America (including what became known as the Washington Consensus);
- foreign direct investment into and out of the United States;
- the sources, benefits, and growth of services trade;
- the impact on wages of trade liberalization;
- reconsidering the “Resource Curse” and the “Middle Income Trap;”
- the links between gender and diversity and corporate profitability; and
- measures of currency manipulation and of equilibrium exchange rates.
Our award-winning headquarters in Washington, DC hosts an accomplished team of researchers, fellows, and professional staff. We sometimes partner with think tanks in China, Europe, and elsewhere to broaden the scope of our research and commentary.
Institute events bring together a diverse array of international specialists from government, business, and the policy community to engage in constructive dialogue. We employ audiovisual aids, interactive graphics, and social media to deepen the public’s understanding of the issues.