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Working Papers, Levy Economics Institute of Bard College >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/31466
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Bibow, Jörg | | en_US |
| dc.date.accessioned | | 2010-05-14T11:08:06Z | | - |
| dc.date.available | | 2010-05-14T11:08:06Z | | - |
| dc.date.issued | | 2006 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/31466 | | - |
| dc.description.abstract | | Approaching the issue of mounting global imbalances from the perspective of the Bretton Woods II hypothesis, this paper argues that the popular preoccupation with China’s supposed export-led development strategy is misplaced. It also suggests, similar to Japan’s depression, subdued growth in Euroland for most of the time since the Maastricht Treaty has been of first-order importance in these developments. Germany is identified as being at the heart of the European trouble. Globally, there is an ongoing clash between two approches to macroeconomic policy making: a highly dogmatic German approach, and a very pragmatic Anglo-Saxon one. The low levels of interest at which global demand imbalances have been smoothed out financially reflect deficient global demand in an environment of vast supply-side opportunities. After contributing greatly to the build-up of imbalances, Euroland is unlikely to play any constructive part in their unwinding. Hampered by an exchange-rate policy vacuum, a small-country mindset, and soaring intra-area imbalances, Euroland is also illpositioned to cope with fading external growth stimuli. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | The Levy Economics Inst. of Bard College Annandale-on-Hudson, NY | | en_US |
| dc.relation.ispartofseries | | Working papers // The Levy Economics Institute 486 | | en_US |
| dc.subject.jel | | E63 | | en_US |
| dc.subject.jel | | F02 | | en_US |
| dc.subject.jel | | F32 | | en_US |
| dc.subject.jel | | F43 | | en_US |
| dc.subject.jel | | N10 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Global Imbalances | | en_US |
| dc.subject.keyword | | Revised Bretton Woods | | en_US |
| dc.subject.keyword | | EMU | | en_US |
| dc.subject.keyword | | Divergences | | en_US |
| dc.subject.keyword | | Export-led Growth | | en_US |
| dc.subject.keyword | | Reserve Currency | | en_US |
| dc.title | | Global imbalances, Bretton Woods II, and Euroland's role in all this | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 570241375 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | Working Papers, Levy Economics Institute of Bard College
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