Publication:
An Institutional Approach to Balancing International Monetary Relations : The Case for a US-China Settlement Facility

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dc.contributor.author Piffaretti, Nadia F.
dc.contributor.author Rossi, Sergio
dc.date.accessioned 2014-08-29T17:05:03Z
dc.date.available 2014-08-29T17:05:03Z
dc.date.issued 2010-01
dc.description.abstract Management of international monetary relations between China and the United States will be one of the crucial parameters for the stability or instability of the global financial system in the next decade. Although most of the literature suggests rebalancing through either adjustment of relative prices or adjustment of behavior in both countries, this paper explores an institutional approach to rebalancing. Applying the lessons from Keynes' 1944 plan for a United States-United Kingdom international clearing union, the paper explores the creation of a bilateral United States-China settlement facility as an institutional contribution to the structural rebalancing of global imbalances. en
dc.identifier http://documents.worldbank.org/curated/en/2010/01/11696976/institutional-approach-balancing-international-monetary-relations-case-us-china-settlement-facility
dc.identifier.uri http://hdl.handle.net/10986/19859
dc.language English
dc.language.iso en_US
dc.publisher World Bank, Washington, DC
dc.relation.ispartofseries Policy Research Working Paper;No. 5188
dc.rights CC BY 3.0 IGO
dc.rights.uri http://creativecommons.org/licenses/by/3.0/igo/
dc.subject ACCUMULATION OF RESERVES
dc.subject ADVANCED COUNTRIES
dc.subject ARBITRAGE
dc.subject BANK ACCOUNTS
dc.subject BANK DEPOSITS
dc.subject BANK PAYMENTS
dc.subject BENCHMARK
dc.subject BILATERAL TRADE
dc.subject BONDS
dc.subject BORROWING
dc.subject CAPITAL LOSS
dc.subject CENTRAL BANK
dc.subject CENTRAL BANKS
dc.subject CIRCULAR FLOW
dc.subject COMPARATIVE ADVANTAGE
dc.subject CONSUMERS
dc.subject CONSUMPTION EXPENDITURES
dc.subject CONSUMPTION GOODS
dc.subject CORPORATE PROFITS
dc.subject CORPORATE SAVINGS
dc.subject CREDIBILITY
dc.subject CREDIT LINES
dc.subject CREDITOR
dc.subject CREDITS
dc.subject CURRENCY
dc.subject CURRENCY REGIME
dc.subject CURRENCY UNION
dc.subject CURRENT ACCOUNT
dc.subject CURRENT ACCOUNT BALANCE
dc.subject CURRENT ACCOUNT DEFICIT
dc.subject CURRENT ACCOUNT DEFICITS
dc.subject CURRENT ACCOUNT IMBALANCE
dc.subject CURRENT ACCOUNT IMBALANCES
dc.subject CURRENT ACCOUNT SURPLUS
dc.subject DEBT
dc.subject DEBT INSTRUMENT
dc.subject DEBT INSTRUMENTS
dc.subject DEBTOR
dc.subject DEBTOR COUNTRIES
dc.subject DEBTOR COUNTRY
dc.subject DEBTS
dc.subject DEFICITS
dc.subject DEPOSITORY
dc.subject DEPOSITORY INSTITUTIONS
dc.subject DEPOSITS
dc.subject DEPRECIATION
dc.subject DEPRESSION
dc.subject DERIVATIVE
dc.subject DERIVATIVE INSTRUMENT
dc.subject DEVELOPING COUNTRIES
dc.subject DEVELOPMENT BANK
dc.subject DEVELOPMENT ECONOMICS
dc.subject DEVELOPMENT POLICIES
dc.subject DOLLAR EXCHANGE RATE
dc.subject DOMESTIC DEMAND
dc.subject DOMESTIC ECONOMY
dc.subject DOMESTIC FINANCIAL MARKET
dc.subject DOMESTIC INTEREST RATES
dc.subject EARNINGS
dc.subject ECONOMIC ACTIVITY
dc.subject ECONOMIC CRISIS
dc.subject ECONOMIC GROWTH
dc.subject ECONOMIC IMBALANCE
dc.subject ECONOMIC SYSTEMS
dc.subject EMERGING MARKETS
dc.subject EQUILIBRIUM
dc.subject EXCESS CAPACITY
dc.subject EXCHANGE MARKET
dc.subject EXCHANGE MARKETS
dc.subject EXCHANGE RATE
dc.subject EXCHANGE RATE POLICY
dc.subject EXCHANGE RATES
dc.subject EXCHANGE-RATE
dc.subject EXPORTERS
dc.subject EXPORTS
dc.subject EXTERNAL DEBT
dc.subject EXTERNAL DEFICIT
dc.subject EXTERNAL DEFICITS
dc.subject EXTERNAL FINANCING
dc.subject EXTERNAL POSITIONS
dc.subject FINANCES
dc.subject FINANCIAL ARCHITECTURE
dc.subject FINANCIAL ASSETS
dc.subject FINANCIAL CRISIS
dc.subject FINANCIAL FRAGILITY
dc.subject FINANCIAL INTERMEDIATION
dc.subject FINANCIAL MARKETS
dc.subject FINANCIAL RELATIONSHIP
dc.subject FINANCIAL SECTOR
dc.subject FINANCIAL STABILITY
dc.subject FINANCIAL SYSTEM
dc.subject FISCAL DEFICITS
dc.subject FOREIGN INVESTMENT
dc.subject FOREIGN TRADE
dc.subject FOREIGN TRANSACTIONS
dc.subject GDP
dc.subject GLOBAL ECONOMY
dc.subject GLOBAL FINANCIAL SYSTEM
dc.subject GLOBAL IMBALANCES
dc.subject GLOBAL TRADE
dc.subject HOLDINGS
dc.subject HOUSEHOLD SAVING
dc.subject HOUSEHOLDS
dc.subject IMBALANCE
dc.subject IMPORTS
dc.subject INCOME
dc.subject INCREASING RETURNS
dc.subject INSTRUMENT
dc.subject INSURANCE
dc.subject INTERNATIONAL BANK
dc.subject INTERNATIONAL CLEARING SYSTEM
dc.subject INTERNATIONAL COOPERATION
dc.subject INTERNATIONAL CURRENCY
dc.subject INTERNATIONAL FINANCIAL ARCHITECTURE
dc.subject INTERNATIONAL FINANCIAL MARKETS
dc.subject INTERNATIONAL MONETARY SYSTEM
dc.subject INTERNATIONAL RESERVE
dc.subject INTERNATIONAL RESERVES
dc.subject INTERNATIONAL SETTLEMENT
dc.subject INTERNATIONAL SETTLEMENTS
dc.subject INTERNATIONAL TRADE
dc.subject INTERNATIONAL TRANSACTIONS
dc.subject INVESTMENT GOODS
dc.subject ISSUANCE
dc.subject KEY CURRENCIES
dc.subject LENDER
dc.subject LENDER OF LAST RESORT
dc.subject LIQUID ASSET
dc.subject LIQUIDITY
dc.subject LOCAL CURRENCY
dc.subject LOW INTEREST RATES
dc.subject MACROECONOMICS
dc.subject MARKET FORCES
dc.subject MARKET SHARES
dc.subject MARKET TRANSACTIONS
dc.subject MISALIGNMENT
dc.subject MONETARY AUTHORITIES
dc.subject MONETARY ECONOMICS
dc.subject MONETARY FUND
dc.subject MONETARY INSTABILITY
dc.subject MONETARY INSTITUTION
dc.subject MONETARY REFORM
dc.subject MULTILATERAL TRADE
dc.subject NATIONAL CURRENCIES
dc.subject NATIONAL ECONOMIES
dc.subject OIL EXPORTERS
dc.subject OIL PRICES
dc.subject OIL-EXPORTING COUNTRIES
dc.subject OPEN ECONOMIES
dc.subject OUTPUT
dc.subject OUTSTANDING BALANCES
dc.subject PAYMENT FACILITY
dc.subject PAYMENT ORDERS
dc.subject PAYMENT SYSTEMS
dc.subject PAYMENT-VERSUS-PAYMENT
dc.subject POLICY RESPONSE
dc.subject PRIVATE PARTIES
dc.subject PRODUCT MARKETS
dc.subject PRODUCTIVE INVESTMENT
dc.subject PRODUCTIVITY INCREASES
dc.subject PUBLIC SPENDING
dc.subject QUOTAS
dc.subject RATES OF INTEREST
dc.subject RELATIVE PRICES
dc.subject REPAYMENTS
dc.subject RESERVE
dc.subject RESERVE ACCUMULATION
dc.subject RESERVE BANK
dc.subject RESERVE CURRENCIES
dc.subject RESERVE CURRENCY
dc.subject RESERVE FUND
dc.subject RESERVES
dc.subject RETURNS
dc.subject SALES REVENUES
dc.subject SETTLEMENT
dc.subject SETTLEMENT FACILITY
dc.subject SETTLEMENT PROCEDURES
dc.subject SETTLEMENT SYSTEM
dc.subject SETTLEMENT SYSTEMS
dc.subject SLOWDOWN
dc.subject SOCIAL PROTECTION
dc.subject SOVEREIGN BONDS
dc.subject STRUCTURAL REFORM
dc.subject STRUCTURAL REFORMS
dc.subject SUPPLY SIDE
dc.subject SURPLUS COUNTRIES
dc.subject SURPLUS COUNTRY
dc.subject SURPLUSES
dc.subject TIME HORIZON
dc.subject TOTAL OUTPUT
dc.subject TRADE ACCOUNTS
dc.subject TRADE DEFICIT
dc.subject TRADE DEFICITS
dc.subject TRADE RELATION
dc.subject TRADE RELATIONS
dc.subject TRADE SURPLUS
dc.subject TRADE TRANSACTIONS
dc.subject TRADING
dc.subject TRADING PARTNER
dc.subject TREASURY
dc.subject TREASURY BILLS
dc.subject VALUE ADDED
dc.subject WEALTH
dc.subject WORLD ECONOMY
dc.subject WORLD TRADE
dc.title An Institutional Approach to Balancing International Monetary Relations : The Case for a US-China Settlement Facility en
dspace.entity.type Publication
okr.date.disclosure 2010-01-31
okr.doctype Publications & Research :: Policy Research Working Paper
okr.doctype Publications & Research
okr.docurl http://documents.worldbank.org/curated/en/2010/01/11696976/institutional-approach-balancing-international-monetary-relations-case-us-china-settlement-facility
okr.globalpractice Macroeconomics and Fiscal Management
okr.globalpractice Finance and Markets
okr.globalpractice Trade and Competitiveness
okr.identifier.doi 10.1596/1813-9450-5188
okr.identifier.externaldocumentum 000158349_20100126084339
okr.identifier.internaldocumentum 11696976
okr.identifier.report WPS5188
okr.language.supported en
okr.pdfurl http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2010/01/26/000158349_20100126084339/Rendered/PDF/WPS5188.pdf en
okr.region.administrative East Asia and Pacific
okr.region.administrative Europe and Central Asia
okr.region.country China
okr.region.country UNITED STATES
okr.topic Finance and Financial Sector Development :: Debt Markets
okr.topic Finance and Financial Sector Development :: Currencies and Exchange Rates
okr.topic Private Sector Development :: Emerging Markets
okr.topic Economic Theory and Research
okr.topic Finance and Financial Sector Development :: Access to Finance
okr.topic Macroeconomics and Economic Growth
okr.unit Development Economics Vice Presidency
okr.volume 1 of 1
relation.isSeriesOfPublication 26e071dc-b0bf-409c-b982-df2970295c87
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