Author: United States. Congress. Economic Joint CommitteePublisher:
ISBN:
Category :
Languages : en
Pages : 34
Book Description
Action Now to Strengthen the U.S. Dollar
Author: United States. Congress. Economic Joint CommitteePublisher:
ISBN:
Category :
Languages : en
Pages : 34
Book Description
Action Now to Strengthen the U.S. Dollar
Author: ACTION NOW TO STRENGTHEN THE U.S. DOLLAR.
Author: United States. Congress. Joint Economic CommitteePublisher:
ISBN:
Category :
Languages : en
Pages : 10
Book Description
Action Now to Strengthen the US Dollar
Author: The Great Inflation
Author: Michael D. BordoPublisher: University of Chicago Press
ISBN: 0226066959
Category : Business & Economics
Languages : en
Pages : 545
Book Description
Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.
Rethinking the International Monetary System
Author: Jane Sneddon LittlePublisher: University Press of the Pacific
ISBN:
Category : Business & Economics
Languages : en
Pages : 304
Book Description
According to a recent World Bank study, the Asian crisis led to a significant rise in poverty and sharp declines in middle-class living standards in the countries most affected. Real public spending on health and education fell, with poor households experiencing the largest declines in access to these services. The impact of decreased investment in human capital will have consequences for individuals and whole societies for years to come. Because these external shocks occurred very shortly after these countries had liberalized their capital markets, they have engendered a growing distrust of globalization in many parts of the world. We owe it to the people of the developing countries, as well as to ourselves, to consider how institutional or policy changes could moderate such setbacks in the future. For all these reasons, this conference seemed a good time to pause and consider the implications of recent events, institutional changes, and new research for the evolution of the international monetary system. Representing frontline countries and frontline institutions, many of the conference participants had struggled firsthand with the dilemmas posed by the recent crises. Thus, they brought unique perspectives on the issues and offered thoughtful observations and useful ideas that could improve the workings of the international monetary system. It is our hope that this publication of their views will stimulate further discussion, research and, more than partial implementation.
The Dollar Trap
Author: Eswar S. PrasadPublisher: Princeton University Press
ISBN: 0691168520
Category : Business & Economics
Languages : en
Pages : 438
Book Description
Why the dollar is—and will remain—the dominant global currency The U.S. dollar's dominance seems under threat. The near collapse of the U.S. financial system in 2008–2009, political paralysis that has blocked effective policymaking, and emerging competitors such as the Chinese renminbi have heightened speculation about the dollar’s looming displacement as the main reserve currency. Yet, as The Dollar Trap powerfully argues, the financial crisis, a dysfunctional international monetary system, and U.S. policies have paradoxically strengthened the dollar’s importance. Eswar Prasad examines how the dollar came to have a central role in the world economy and demonstrates that it will remain the cornerstone of global finance for the foreseeable future. Marshaling a range of arguments and data, and drawing on the latest research, Prasad shows why it will be difficult to dislodge the dollar-centric system. With vast amounts of foreign financial capital locked up in dollar assets, including U.S. government securities, other countries now have a strong incentive to prevent a dollar crash. Prasad takes the reader through key contemporary issues in international finance—including the growing economic influence of emerging markets, the currency wars, the complexities of the China-U.S. relationship, and the role of institutions like the International Monetary Fund—and offers new ideas for fixing the flawed monetary system. Readers are also given a rare look into some of the intrigue and backdoor scheming in the corridors of international finance. The Dollar Trap offers a panoramic analysis of the fragile state of global finance and makes a compelling case that, despite all its flaws, the dollar will remain the ultimate safe-haven currency.
The Federal Reserve System Purposes and Functions
Author: Board of Governors of the Federal Reserve SystemPublisher:
ISBN: 9780894991967
Category : Banks and Banking
Languages : en
Pages : 0
Book Description
Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Three Days at Camp David
Author: Jeffrey E. GartenPublisher: HarperCollins
ISBN: 006288770X
Category : History
Languages : en
Pages : 432
Book Description
The former dean of the Yale School of Management and Undersecretary of Commerce in the Clinton administration chronicles the 1971 August meeting at Camp David, where President Nixon unilaterally ended the last vestiges of the gold standard—breaking the link between gold and the dollar—transforming the entire global monetary system. Over the course of three days—from August 13 to 15, 1971—at a secret meeting at Camp David, President Richard Nixon and his brain trust changed the course of history. Before that weekend, all national currencies were valued to the U.S. dollar, which was convertible to gold at a fixed rate. That system, established by the Bretton Woods Agreement at the end of World War II, was the foundation of the international monetary system that helped fuel the greatest expansion of middle-class prosperity the world has ever seen. In making his decision, Nixon shocked world leaders, bankers, investors, traders and everyone involved in global finance. Jeffrey E. Garten argues that many of the roots of America’s dramatic retrenchment in world affairs began with that momentous event that was an admission that America could no longer afford to uphold the global monetary system. It opened the way for massive market instability and speculation that has plagued the world economy ever since, but at the same time it made possible the gigantic expansion of trade and investment across borders which created our modern era of once unimaginable progress. Based on extensive historical research and interviews with several participants at Camp David, and informed by Garten’s own insights from positions in four presidential administrations and on Wall Street, Three Days at Camp David chronicles this critical turning point, analyzes its impact on the American economy and world markets, and explores its ramifications now and for the future.
Brief History of the Gold Standard (GS) in the United States
Author: Craig K. ElwellPublisher: DIANE Publishing
ISBN: 143798889X
Category : Business & Economics
Languages : en
Pages : 18
Book Description
The U.S. monetary system is based on paper money backed by the full faith and credit of the fed. gov't. The currency is neither valued in, backed by, nor officially convertible into gold or silver. Through much of its history, however, the U.S. was on a metallic standard of one sort or another. On occasion, there are calls to return to such a system. Such calls are usually accompanied by claims that gold or silver backing has provided considerable economic benefits in the past. This report reviews the history of the GS in the U.S. It clarifies the dates during which the GS was used, the type of GS in operation at the various times, and the statutory changes used to alter the GS and eventually end it. It is not a discussion of the merits of the GS. A print on demand oub.