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Global Imbalances: Time for Action. Bruegel policy brief 2007/02, March 2007

Ahearne, Alan and Cline, William R. and Lee, Kyung Tae and Park, Yung Chul and Pisani-Ferry, Jean and Williamson, John. (2007) Global Imbalances: Time for Action. Bruegel policy brief 2007/02, March 2007. [Policy Paper]

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    Summary. Policymakers in the US, Asia and Europe should not wait until financial markets force adjustment in the large imbalances in global current account positions. Although multilateral consultations organised by the IMF began in Summer 2006, they have yet to be followed by policy actions. The current stalemate is dangerous, as market participants are likely to change their minds at some stage about the sustainability of imbalances. Indications that the main players are able to agree on the direction of desirable domestic policy changes and are willing to accept the exchange rate implications of global current account adjustment would help make this adjustment orderly. The time for action is now.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > External relations > international economy
    EU policies and themes > External relations > globalisation/globalization
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Bruegel (Brussels) > Policy Briefs
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 05 Jun 2008
    Page Range: p. 8
    Last Modified: 15 Feb 2011 17:53

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