Saturday February 11, 2012

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RESEARCH AND COMMENTARY

Save to My PortfolioTwo Versions of the European Debt Crisis

Eduardo Levy-Yeyati and Mario Blejer, January 25, 2012, The Brookings Institution

The Euro statue in front of the ECB headquartersEduardo Levy-Yeyati and Mario Blejer examine the European Central Bank's decision to lend to commercial banks, a move that has renewed optimism that the debt crisis has been practically resolved. Levy-Yeyati and Blejer argue that this resolution depends on the eurozone countries deciding to become a true monetary union. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioThe IMF and the Eurozone: Weighing Unconventional Options to Stabilize the Global Economy

Domenico Lombardi and Sarah Puritz Milsom, January 19, 2012, FT.com

The stock market in MadridDomenico Lombardi and Sarah Puritz Milsom propose that the general allocation of Special Drawing Rights, a reserve asset created by the International Monetary Fund, could stabilize the global economy, provide market confidence, and generate additional financing that could be partially mobilized toward stabilizing the euro-area crisis. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioJapan's Rescue of the IMF

Bessma Momani and Carin Holroyd, January 12, 2012, Social Science Japan Journal

Bessma Momani and Carin L. Holroyd examine Japan's $100 billion commitment to the International Monetary Fund, arguing that Japan made this commitment to demonstrate global responsibility and to encourage more support for the country's preferences for debtor reforms.
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RESEARCH AND COMMENTARY

Save to My Portfolio2012: The Year We Import Recession from Europe?

Douglas J. Elliott, December 20, 2011, The Brookings Institution

2012: The Year We Import Recession from Europe?Douglas Elliott writes that if Europe doesn't solve its debt crisis in 2012, it could lead to depressed economic conditions globally. Despite the myriad paths to disaster, Elliott explains why a major crisis is likely to be averted in spite of an unimpressive resolution process thus far. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioThe Euro-Area Crisis: Weighing Options for Unconventional IMF Interventions

Domenico Lombardi and Sarah Puritz Milsom, December 2011, The Brookings Institution

The Euro-Area Crisis: Weighing Options for Unconventional IMF InterventionsDomenico Lombardi and Sarah Puritz Milsom explore the role of the International Monetary Fund in the eurozone crisis and review the policy options that the international community must consider to strategically and effectively address the current situation. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioEurope's Last Chance to Get it Right: From Monnet to Mitter-ohl and Merk-ozy

Michael Barr and Daniel Halberstam, December 08, 2011, CNBC

Europe's Last Chance to Get it Right: From Monnet to Mitter-ohl and Merk-ozy Michael Barr and Daniel Halberstam revisit the history of the euro to explain why preserving the eurozone's fiscal unity is necessary for Europe to have a strong economic future. Barr and Halberstam also explain what France and Germany must do to help bring Europe out of its current crisis. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioKeep the International Monetary Fund Out of Europe

Eduardo Levy-Yeyati and Mario I. Blejer, December 06, 2011, Project Syndicate

Eduardo Levy-Yeyati and Mario I. Blejer argue that the International Monetary Fund (IMF) should resist pressure to contribute financially to ailing European economies, such as Italy, as doing so could have serious economic ramifications for the eurozone and the IMF itself. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioItaly Must Secure IMF Help to Stave off Further Crisis

Domenico Lombardi, November 10, 2011, The Brookings Institution

Italy Must Secure IMF Help to Stave off Further CrisisDomenico Lombardi explains that as Italy edges closer to a financial crisis, the International Monetary Fund's participation could bring much needed credibility to the Italian government and lower the chances of a systematic collapse of the euro area. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioThe Edge of the Abyss: Can Restoring Italy's Credibility Spur Eurozone Reform?

Carlo Bastasin, November 07, 2011, Il Sole 24 Ore

Carlo Bastasin writes that political credibility is at the core of the Italy's financial crisis, arguing that it is time for the country to resort to external authorities to cut debt and implement needed reforms. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioThe Eurozone Crisis and Implications for the United States

Douglas J. Elliott, October 25, 2011, House Subcommittee on International Monetary Policy and Trade

The Eurozone Crisis and Implications for the United StatesTestifying before the House Subcommittee on International Monetary Policy and Trade, Douglas Elliott explains why a series of European nations defaulting on their debt would trigger a recession in the United States. Elliott recommends policies Washington should adopt to restore confidence and to encourage European leaders to take stronger steps towards stability. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioLocal Governance Reforms Are Critical to Improving the Effectiveness of IMF/World Bank Lending to Africa

Julius Agbor and Olumide Taiwo, September 29, 2011, The Brookings Institution

As international development institutions increase concessional lending to low-income countries due to persistent global food and fuel price shocks, Julius Agbor and Olumide Taiwo explain that issues of governance and accountability will become crucially important and call for reforms in the framework of local governance. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioTransparency and the IMF

David Gartner, September 23, 2011, The Brookings Institution

Transparency and the IMFFor years, the International Monetary Fund (IMF) has called for governments to expand their level of transparency, while maintaining a lack of transparency in its own decision-making. David Gartner provides recommendations on improving the transparency of the IMF, including reforming its access to information policies and shortening the time before making deliberations public. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioNew World Bank President? Another Tough Choice for Obama

Lex Rieffel, September 20, 2011, The Brookings Institution

New World Bank President? Another Tough Choice for ObamaSince 1945, an American has held the position of World Bank leader. Lex Rieffel argues that if President Obama follows this practice when World Bank President Robert Zoellick’s current term ends in 2012, it is likely to cost both the United States and the World Bank political support and international goodwill. Read More

VIDEO

Save to My PortfolioEuropean Leaders Must Unite to Solve Financial Crisis

Domenico Lombardi, September 19, 2011

As Domenico Lombardi explains, the IMF must pursue a decisive and proactive agenda to help stem any further economic contagion in Europe.

RESEARCH AND COMMENTARY

Save to My PortfolioThe United States Should Wish Bon Voyage to the World Bank

Lex Rieffel, September 16, 2011, The Globalist

The United States Should Wish Bon Voyage to the World BankWhile the postwar architecture of the economic system has worked well until recently, most analysts believe the organizations involved need to reform to successfully confront 21st century challenges. Lex Rieffel argues that the first step to improve global governance is for the World Bank to move out of Washington. Read More

In Brief

Established at the end of World War II to restore economic stability, the International Monetary Fund (IMF) promotes financial cooperation and growth among its 185 member countries. To cope with increasing challenges of the global economy, the IMF has promoted greater transparency of financial markets and pursued governance reform within the organization.

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Isabel V. SawhillExpertIsabel V. Sawhill

A nationally known budget expert, Isabel Sawhill focuses on domestic poverty and federal fiscal policy. She is also co-director of the Center on Children and Families and the Budgeting for National Priorities Project at Brookings.

Brookings Mobile ApplicationsNEW FEATUREBrookings Mobile Applications

Stay up-to-date with our independent, high-quality research, learn about Brookings events and search our directory of experts all from your BlackBerry, iPad, iPhone or Android device.

Daniel KaufmannExpertDaniel Kaufmann

Daniel Kaufmann was previously the director at the World Bank Institute, leading the work on governance and anti-corruption. His areas of expertise are public sector and regulatory reform, development, governance and anti-corruption.

John L. Thornton China CenterPolicy CenterJohn L. Thornton China Center

The John L. Thornton China Center develops analysis and policy recommendations to help address key long-term challenges, both in terms of U.S.-China relations and China's internal development.

State of Metropolitan AmericaMetropolitan Policy ProgramState of Metropolitan America

Foreshadowing 2010 Census results, this new Brookings report and interactive map defines who Americans are—and who they are becoming—in the face of continued growth, population aging and diversification, uneven educational attainment and income polarization.

Suzanne MaloneyExpertSuzanne Maloney

Suzanne Maloney studies Iran, the political economy of the Persian Gulf and Middle East energy policy. A former U.S. State Department policy advisor, she has also counseled private companies on Middle East issues.

William G. GaleExpertWilliam G. Gale

Bill Gale, the Arjay and Frances Miller Chair in Federal Economic Policy in the Economic Studies Program at Brookings, is an expert on tax policy, fiscal issues, pensions, and saving behavior. He is also co-director of the Tax Policy Center and director of the Retirement Security Project.

Center for Technology InnovationPolicy CenterCenter for Technology Innovation

The Center for Technology Innovation is at the forefront of shaping public debate on technology innovation and developing data-driven scholarship to enhance understanding of technology’s legal, economic, social, and governance ramifications.

Robert KaganExpertRobert Kagan

Robert Kagan is an expert and frequent commentator on Egypt, the Middle East, U.S. national security, and U.S.-European relations. He writes a monthly column on world affairs for the Washington Post and is a contributing editor at the Weekly Standard and the New Republic.

Budgeting for National PrioritiesResearch ProjectBudgeting for National Priorities

The Budgeting for National Priorities project promotes greater fiscal responsibility by developing new ideas, educating the public and finding common ground among experts and policy-makers.

Mwangi S. KimenyiExpertMwangi S. Kimenyi

Mwangi S. Kimenyi is senior fellow and director of the Africa Growth Initiative. The founding executive director of the Kenya Institute for Public Policy Research and Analysis (1999-2005), he focuses on Africa's development including institutions for economic growth, political economy, and private sector development.

Donald KohnExpertDonald Kohn

Donald Kohn is a 40-year veteran of the Federal Reserve System and served as vice chairman of the Board of Governors of the Federal Reserve from 2006 to 2010. He was recently appointed by the government of the United Kingdom and the Bank of England to serve on its interim Financial Policy Committee. Kohn focuses on issues of monetary policy, financial regulation and macroeconomics.

Darrell M. WestExpertDarrell M. West

Darrell M. West is vice president and director of Governance Studies and founding director of the Center for Technology Innovation at Brookings. His studies include technology policy, electronic government, and mass media.

Shadi HamidExpertShadi Hamid

Shadi Hamid focuses on Islamist political parties and democratic reform in the Middle East. Prior to joining Brookings, he was Director of Research at the Project on Middle East Democracy (POMED) and a Hewlett Fellow at Stanford University’s Center on Democracy, Development, and the Rule of Law.

Katherine SierraExpertKatherine Sierra

Katherine Sierra is a senior fellow in the Global Economy and Development program. A former vice president for sustainable development at the World Bank, she focuses on climate change and energy.

Energy and ClimateTopicEnergy and Climate

What will it take to mitigate severe climate disruption? What should our priorities be in the relationship between fresh water and climate change? What will it take to help vulnerable countries and regions adapt to change already taking place?

Center on Children and FamiliesPolicy CenterCenter on Children and Families

The Center on Children and Families studies policies on the well-being of America's children and their parents and seeks a more effective means of addressing poverty, inequality and lack of opportunity in the United States.

Vanda Felbab-BrownExpertVanda Felbab-Brown

Vanda Felbab-Brown focuses on the national security implications of illicit economies and strategies for managing them. She is the author of Shooting Up: Counterinsurgency and the War on Drugs (Brookings Institution Press, 2009).

Global ChangeTopicGlobal Change

How do we develop more realistic approaches and more effective means of ending intractable old conflicts and preventing new ones? How do we enhance measures to thwart nonstate actors—especially terrorists and illicit traffickers—and prevent the spread of nuclear weapons?

Africa Growth InitiativeResearch ProjectAfrica Growth Initiative

The Africa Growth Initiative conducts high-quality policy research and analysis focused on attaining sustainable economic development and prosperity in Africa, while amplifying the voice of African researchers in policy-making and planning.

Alice M. RivlinExpertAlice M. Rivlin

In February 1975, the Congressional Budget Office was established with Alice Rivlin as its first director. Rivlin is an expert on urban issues as well as fiscal, monetary and social policy and directs the Greater Washington Research project at Brookings.

Growth through InnovationTopicGrowth through Innovation

What new practices and mechanisms will help prevent another economic downturn from turning into a financial panic that could become a truly global meltdown? What changes in the public and private sectors will build the workforce and infrastructure required for a global information-based economy?

Opportunity and Well-beingTopicOpportunity and Well-being

As they weather the current economic storm, will our governments and societies address the basic needs and aspirations of the least well-off? How can we better use education to raise individual aspirations? How should governments around the world accelerate preparations to provide social services for the billions moving from poverty into the middle class?