LEADER 03873nam 2200733 450 001 9910823260703321 005 20230803034045.0 010 $a0-19-931158-7 010 $a0-19-993701-X 035 $a(CKB)3460000000128155 035 $a(EBL)3055377 035 $a(OCoLC)827268133 035 $a(SSID)ssj0000820995 035 $a(PQKBManifestationID)11509721 035 $a(PQKBTitleCode)TC0000820995 035 $a(PQKBWorkID)10871591 035 $a(PQKB)11219084 035 $a(StDuBDS)EDZ0000113796 035 $a(MiAaPQ)EBC3055377 035 $a(MiAaPQ)EBC4704591 035 $a(Au-PeEL)EBL4704591 035 $a(CaPaEBR)ebr11292318 035 $a(CaONFJC)MIL498170 035 $a(OCoLC)962153402 035 $a(EXLCZ)993460000000128155 100 $a20161109h20132013 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 14$aThe unloved dollar standard $efrom Bretton Woods to the rise of China /$fRonald I. McKinnon 210 1$aNew York, New York :$cOxford University Press,$d2013. 210 4$dİ2013 215 $a1 online resource (237 p.) 300 $aDescription based upon print version of record. 311 $a0-19-993700-1 311 $a0-19-998070-5 320 $aIncludes bibliographical references and index. 327 $aCover; Contents; Preface; 1. Introduction: The Unloved Dollar Standard; PART I. The International Money Machine; 2. The U.S. Dollar's Facilitating Role as International Money Today; 3. The Dollar as a Worldwide Nominal Anchor: Insular U.S. Monetary Policy from 1945 to the Late 1960s; 4. The Slipping Anchor, 1971-2008: The Nixon, Carter, and Greenspan Shocks; 5. The Bernanke Shock, 2008-12: Interest Differentials, Carry Trades, and Hot Money Flows; PART II. Trade Imbalances; 6. The U.S. Saving Deficiency, Current-Account Deficits, and Deindustrialization: Hard versus Soft Landings 327 $a7. Exchange Rates and Trade Balances under the Dollar Standard Hong (Helen) Qiao8. Why Exchange Rate Changes Will Not Correct Global Trade Imbalances; 9. The Transfer Problem in Reducing the U.S. Current-Account Deficit; PART III. China: Adjusting to the Dollar Standard; 10. High Wage Growth under Stable Dollar Exchange Rates: Japan, 1950-71 and China, 1994-2011; 11. Currency Mismatches on the Dollar's Periphery: Why China as an Immature Creditor Cannot Float Its Exchange Rate; 12. China and Its Dollar Exchange Rate: A Worldwide Stabilizing Influence?; PART IV. International Monetary Reform 327 $a13. Rehabilitating the Dollar Standard and the Role of China: The G-2References; Index; A; B; C; D; E; F; G; H; I; J; K; L; M; N; O; P; Q; R; S; T; U; V; W; Y; Z 330 8 $aThis study argues that rehabilitating the dollar standard requires that American monetary and financial policies be 'internationalized': the Federal Reserve should aim for greater exchange rate stability by adjusting interest rates to prevent runs for or against the dollar, while the U.S. Treasury aims fiscal policy to balance exports and imports. China, now the world's largest exporter and creditor country, has a critical role to play in sustaining the dollar standard. 606 $aForeign exchange 606 $aDollar, American 606 $aMoney$zUnited States 606 $aMoney$zChina 606 $aCurrency question 606 $aCurrency convertibility 615 0$aForeign exchange. 615 0$aDollar, American. 615 0$aMoney 615 0$aMoney 615 0$aCurrency question. 615 0$aCurrency convertibility. 676 $a332.4560973 700 $aMcKinnon$b Ronald I.$0570239 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910823260703321 996 $aThe unloved dollar standard$94061337 997 $aUNINA