Possible Means And Solutions For Avoiding Currency Wars
AbstractWhat is needed is a coordinated plan of action, involving all trading partners to ensure a balanced global recovery. The plan must address three interconnected issues: the exchange rate system, global imbalances and excessive reserve accumulation. Few solutions in response to these issues: - create an emergency markets reserve fund, from which member countries would be able to withdraw with no conditionality; - create a global governance mechanism to prevent countries from running excessive current account imbalances; - give surplus countries greater exchange rate flexibility; - enhance the role of the renminbi as an international currency; - strengthen the capacity of IMF to act as a lender of last resort, allowing it to lend to solvent countries against collaterals.
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Bibliographic InfoArticle provided by University of Craiova, Faculty of Economics and Business Administration in its journal Annals of Computational Economics.
Volume (Year): 1 (2011)
Issue (Month): 39 ()
currency wars; stability; global governance; global imbalances;
Find related papers by JEL classification:
- G01 - Financial Economics - - General - - - Financial Crises
- G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
- G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
- G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
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- Giovanni Dell'Ariccia & Pau Rabanal & Christopher W. Crowe & Deniz Igan, 2011. "Policies for Macrofinancial Stability: Options to Deal with Real Estate Booms," IMF Staff Discussion Notes 11/02, International Monetary Fund.
- Dennis P. J. Botman & Papa M'B. P. N'Diaye & Hali J. Edison, 2007.
"Strategies for Fiscal Consolidation in Japan,"
IMF Working Papers
07/37, International Monetary Fund.
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