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Manufacturing is still critical to the economy United States. Clyde Prestowitz, says it's time to start realizing the positive spillovers that manufacturing creates... Read more  

Events & Activities

Stephen Olson at Chinese Development Institute Conference


 Clyde Prestowitz giving presentation to CDI...


Steve Olson teaching trade negotiations at the Mekong Institute...


Stephen Olson to speak at upcoming workshop organized by the International Institute for Trade and Development on 

"Economics of GMS Agricultural trade in goods and services towards the world market"

Chiangmai, Thailand Sep 8-12.

Monetary and Exchange Rate Policy

Ever since World War II the US dollar has been the world's major reserve currency. But with America's trade and current account deficits spiralling out of control and the managed exchange rate policies of many developing nations now causing huge global imbalances, the continued stability of the international monetary system is at risk.

What Determines Exchange Rate Regimes? The Trilemma and its Consequences

Click Here to Download the Full Report in PDF Format

Image Exchange rate regimes, author Ben Carliner argues, are determined by three main factors:

First, policy makers are faced with the structural constraints imposed by the so-called trilemma - the inability to maintain the combination of a fixed exchange rate, free capital mobility, and a monetary policy oriented toward domestic needs.

Second, the continuing growth of deep, liquid financial markets and institutions, along with rising international trade and investment, has made international capital flows increasingly hard to regulate. Given the constraints imposed by the trilemma, the difficulties in imposing and maintaining capital controls further limit the range of policy options available to governments. 

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The Economic Outlook and Challenges Facing Monetary Policy

Laurence Meyer, member of the Board of Governors of the Federal Reserve System, speaks to the Economic Strategy Institute on January 8, 1998 on the outlook for monetary policy.

Click Here to Download the Report in PDF Format


Global Finance and Global Players: Getting the International System Back on Track - James Wolfensohn

Remarks by James Wolfesohn, President of the World Bank, on the Asian financial crisis at the Economic Strategy Institute, May 6, 1998.

Click Here to Download the Presentation in PDF Format


Bailing Out or Sinking In - The IMF and the Korean Financial Crisis - Meredith Woo-Cummings

Remarks by Professor Meredith Woo-Cummings at the Economic Stragy Institute, December 2, 1997

Click Here to Download the Speech in PDF Format


Dateline: Meltdown Reports From the Front Line of the Asian Contagion

Remarks by Michael Zielenziger of Knight-Ridder Newspapers and Bob Dean of Cox Newspapers at the Economic Strategy Institute, January 12, 1998

Click Here to Download the Discussion in PDF Format


Emerging From Crisis: The Beginnings of a New Asia

Remarks by Lawrence Summers, Deputy Secretary of the Treasury, at the Economic Strategy Institute, February 12, 1998.

Click Here to Download the Speech in PDF Format


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Latest Publications

The Betrayal of American Prosperity.

The Trans-Paific Partnership and Japan.

Making the Mexian Miracle.

Industrial Policy and Rebalancing in the US and China.

The Evolving Role of China in International Institutions.


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Economic Strategy Institute

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