International Policy Coordination: The Long View / Barry Eichengreen.

Format:

Book

Author/Creator:

Eichengreen, Barry.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w17665.

NBER working paper series no. w17665

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

International Policy Coordination

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2011.

Summary:

This paper places current efforts at international economic policy coordination in historical perspective. It argues that successful cooperation is most likely in four sets of circumstances. First, when it centers on technical issues. Second, when cooperation is institutionalized - when procedures and precedents create presumptions about the appropriate conduct of policy and reduce the transactions costs of reaching an agreement. Third, when it is concerned with preserving an existing set of policies and behaviors (when it is concerned with preserving a policy regime). Fourth, when it occurs in the context of broad comity among nations. These points are elaborated through a review of 150 years of historical experience and then used to assess the scope for cooperative responses to the current economic crisis.

Notes:

Print version record

December 2011.