Sunday February 12, 2012

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RESEARCH AND COMMENTARY

Save to My PortfolioWill China's Yuan Rival the Dollar?

Eswar Prasad, February 08, 2012, The Wall Street Journal

Chinese one yuan coins on 100 yuan banknotes While some claim that the yuan will bypass the dollar as the dominant global reserve currency, Eswar Prasad argues that although the yuan’s role in global trade and finance will expand, the currency currently poses little threat to the U.S. dollar's status. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioThe Role of the Renminbi in the Global Monetary System

Eswar Prasad and Lei (Sandy) Ye, February 2012, The Brookings Institution

Customer holds Renminbi banknotes in BeijingEswar Prasad and Lei Ye examine the role of China's renminbi currency in the global monetary system as it relates to internationalization, capital account convertibility and reserve currency. Prasad and Ye argue that the renminbi will play an increasingly significant role in global trade and finance. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioMonetary Policy in 2011: Unconventional and Necessary

Donald Kohn, December 14, 2011, The Brookings Institution

Monetary Policy in 2011: Unconventional and NecessaryDonald Kohn summarizes the unconventional actions that the Federal Reserve had to rely on in 2011 to boost growth in an economy hampered by world events including the uncertainty in the eurozone and the earthquake in Japan. Kohn notes what may happen in the coming months that would lead to a return to more conventional monetary policy. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioCentral Banks Need a Bigger and Bolder Mandate

Eswar Prasad, Barry Eichengreen and Raghuram Rajan, October 24, 2011, FT.com

Central Banks Need a Bigger and Bolder MandateIn the wake of the global financial crisis, Eswar Prasad, Barry Eichengreen and Raghuram Rajan say that it is time to update the central banks' mandates and operations. They argue that central banks should make financial and price stability an objective and employ tactics to evaluate the effects of the economic changes. Read More

BOOK

Save to My PortfolioUncle Sam in Pinstripes: Evaluating U.S. Federal Credit Programs

Douglas J. Elliott, October 15, 2011

Uncle Sam in Pinstripes is an accessible primer on U.S. federal lending, providing an instructive look at one of the most important interfaces between the U.S. government and its citizens as well as the transactions that result. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioNew Brookings Papers on Economic Activity

Justin Wolfers , September 23, 2011, The Brookings Institution

New Brookings Papers on Economic ActivityJustin Wolfers summarizes the latest Brookings Papers on Economic Activity and explains the findings behind papers covering subjects that could have great impact on policy-making discussion. Topics covered include job creation, unemployment and unemployment insurance's relationship to the Great Recession, and the effectiveness of the Federal Reserve and how its actions in the past year compare to that of the Swedish central bank. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioThe Euro-Area Crisis: Weighing Policy Options and the Scope for U.S. Leverage

Domenico Lombardi, September 22, 2011, Subcommittee on Security and International Trade and Finance, Committee on Banking, Housing, and Urban Affairs, United States Senate

The Euro-Area Crisis: Weighing Policy Options and the Scope for U.S. LeverageIn testimony to the Subcommittee on Security and International Trade and Finance and the Committee on Banking, Housing, and Urban Affairs, Domenico Lombardi discusses the implications of the European debt crisis for the U.S. economy and how the United States can mobilize to affect current developments in Europe. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioRethinking Central Banking: It's Time for an Alternative Framework

Eswar Prasad, Barry Eichengreen and Raghuram Rajan, September 20, 2011, Voxeu.org

While central banks have broadened their work in recent years, the standard analytic framework—‘flexible inflation targeting’—has not changed. Eswar Prasad, Barry Eichengreen, and Raghuram Rajan argue there needs to be an alternative framework to central banking that involves an explicit financial stability mandate and international coordination among central banks.

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RESEARCH AND COMMENTARY

Save to My PortfolioRethinking Central Banking

September 2011, The Committee on International Economic and Policy Reform

Rethinking Central Banking

In this report, the Committee on International Economic and Policy Reform lays out a framework for rethinking central banking in light of lessons learned in the lead-up to and aftermath of the global financial crisis. They offer their recommendations on achieving financial stability and implementing effective monetary policy.

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RESEARCH AND COMMENTARY

Save to My PortfolioChina's Currency Policy Explained

Arthur R. Kroeber, September 07, 2011, The Brookings Institution

China's Currency Policy ExplainedArthur Kroeber describes China's monetary policy around the renminbi (RMB), as China maintains its refusal to allow the RMB's value to fluctuate with the market, and examines the impact this refusal has on China's relationship with the United States. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioBernanke Speaks. But What Did He Say?

Justin Wolfers , August 26, 2011, Freakonomics

Bernanke Speaks. But What Did He Say?Although there were expectations that Federal Reserve chairman Ben Bernanke would announce another round of quantitative easing, Justin Wolfers explains any disappointment that he did not is misplaced, since while Bernanke's statements seem to imply his support for further easing, policy announcements are made by the Federal Open Market Committee. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioEconomic Growth Wanes, Again

Karen Dynan, July 29, 2011, The Brookings Institution

Economic Growth Wanes, AgainThe latest GDP data paint a bleak picture for U.S. economic growth, with real GDP rising at an annual rate of just 1.3 percent. Karen Dynan discusses the fiscal and monetary policy options, and argues that there is good news, explaining that some of the factors contributing to the economic weakness are temporary. Read More

VIDEO

Save to My Portfolio@ Brookings Podcast: The Debt Crisis in the Eurozone

Domenico Lombardi, July 15, 2011

@ Brookings Podcast: The Debt Crisis in the Eurozone

The European debt crisis has spread from Greece to Italy, and expert Domenico Lombardi warns the contagion will continue unless structural reforms can be put in place and Greece stabilized.

RESEARCH AND COMMENTARY

Save to My PortfolioYes, We Can Reduce the Unemployment Rate

William T. Dickens, June 29, 2011, Northeastern University and the Brookings Institution

Yes, We Can Reduce the Unemployment RateWilliam Dickens's analysis of unemployment data and data on geographic and industry skill mismatch finds no evidence that unemployment is mainly due to a mismatch of jobs and workers. Instead, an increase in demand for goods and services would almost certainly bring down the unemployment rate. Dickens recommends more aggressive fiscal and monetary policy to accomplish this increase. Read More

RESEARCH AND COMMENTARY

Save to My PortfolioChoosing among Macroprudential Tools

Douglas J. Elliott, June 07, 2011, The Brookings Institution

Choosing among Macroprudential Tools New “macroprudential” tools may help reduce the damage of future economic crises. However, their effective implementation represents a new frontier in financial regulation. Douglas Elliott answers several key questions on how to choose among these instruments and how they can be combined for maximum effectiveness. Read More

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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.

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.

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?

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?

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?

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.

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.

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.

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.

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.

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.

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.

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).

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.

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.

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.

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.