IDEAS home Printed from https://ideas.repec.org/p/wbk/wbrwps/5188.html
   My bibliography  Save this paper

An institutional approach to balancing international monetary relations : the case for a US-China settlement facility

Author

Listed:
  • Piffaretti, Nadia F.
  • Rossi, Sergio

Abstract

Management of international monetary relations between China and the United States will be one of the crucial parameters for the stability or instability of the global financial system in the next decade. Although most of the literature suggests rebalancing through either adjustment of relative prices or adjustment of behavior in both countries, this paper explores an institutional approach to rebalancing. Applying the lessons from Keynes'1944 plan for a United States-United Kingdom international clearing union, the paper explores the creation of a bilateral United States-China settlement facility as an institutional contribution to the structural rebalancing of global imbalances.

Suggested Citation

  • Piffaretti, Nadia F. & Rossi, Sergio, 2010. "An institutional approach to balancing international monetary relations : the case for a US-China settlement facility," Policy Research Working Paper Series 5188, The World Bank.
    • Handle: RePEc:wbk:wbrwps:5188
    as

    Download full text from publisher

    File URL: http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2010/01/26/000158349_20100126084339/Rendered/PDF/WPS5188.pdf
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Sergio Rossi, 2014. "A structural monetary reform to reduce global imbalances: Keynes’s plan revisited to avert international payment deficits," Chapters, in: Riccardo Bellofiore & Giovanna Vertova (ed.), The Great Recession and the Contradictions of Contemporary Capitalism, chapter 8, pages 134-150, Edward Elgar Publishing.

    More about this item

    Keywords

    Debt Markets; Currencies and Exchange Rates; Emerging Markets; Economic Theory&Research; Access to Finance;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wbk:wbrwps:5188. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Roula I. Yazigi (email available below). General contact details of provider: https://edirc.repec.org/data/dvewbus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.