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Should There be a Coordinated Response to the Problem of Global Imbalances? : Can There be One? / Barry Eichengreen.
- Format:
- Book
- Government document
- Author/Creator:
- Eichengreen, Barry J., author.
- Series:
- UN Department of Economic and Social Affairs (DESA) Working Papers, 2520-6656 ; no.69.
- UN Department of Economic and Social Affairs (DESA) Working Papers, 2520-6656 ; no.69
- Language:
- English
- Subjects (All):
- Economic and Social Development.
- Local Subjects:
- Economic and Social Development.
- Physical Description:
- 1 online resource.
- Place of Publication:
- New York : United Nations, 2008.
- System Details:
- text file
- Summary:
- This paper analyzes the options for international policy coordination in order to redress the global imbalances. The case for policy coordination rests on a number of assumptions such as the existence of important spillover effects of national policies and a common understanding of the nature of the problem. In reality, important obstacles exist to get to effective policy coordination, including resistance from domestic interest groups and disagreement of the effectiveness of policy instruments. These obstacles can be reduced by developing a multilateral consensus on common goals and by addressing commitment problems via issuing multi-year schedules for policy adjustments.
- Access Restriction:
- Restricted for use by site license.
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