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The unloved dollar standard : from Bretton Woods to the rise of China / / Ronald I. McKinnon



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Autore: McKinnon Ronald I. Visualizza persona
Titolo: The unloved dollar standard : from Bretton Woods to the rise of China / / Ronald I. McKinnon Visualizza cluster
Pubblicazione: New York, New York : , : Oxford University Press, , 2013
©2013
Descrizione fisica: 1 online resource (237 p.)
Disciplina: 332.4560973
Soggetto topico: Foreign exchange
Dollar, American
Money - United States
Money - China
Currency question
Currency convertibility
Note generali: Description based upon print version of record.
Nota di bibliografia: Includes bibliographical references and index.
Nota di contenuto: Cover; 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
7. 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
13. 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
Sommario/riassunto: This 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.
Titolo autorizzato: The unloved dollar standard  Visualizza cluster
ISBN: 0-19-931158-7
0-19-993701-X
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910789314403321
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