Workshop on Policy to Reduce Global Imbalances

February 9, 2007, 3:00 AM EST
Peterson Institute for International Economics, Washington, DC
John Williamson (PIIE), Martin Neil Baily (Brookings Institution) and William R. Cline (PIIE)

Participants in a February 2007 workshop, held in Washington and cosponsored by Brussels-based Bruegel, Seoul-based Korea Institute for International Economic Policy (KIEP), and the Peterson Institute, outlined how an orderly reduction in global imbalances can be achieved. They presented estimates of the exchange rate implications of current account adjustment scenarios in which the US current account deficit narrowed to 3 percent of GDP in the medium term and the world growth rate was unchanged.

The conclusions of the workshop are summarized in Policy Brief 07-4: Global Imbalances: Time for Action. This report was release on March 27, 2007, at a meeting at the Institute.

Event Materials

Workshop Papers

Concluding Remarks