Author: Edwin M. Truman / Topic: International Cooperation

Author:: Edwin M. Truman
Publication Date:: 07-2019
Content Type:: Working Paper
Institution:: Peterson Institute for International Economics
Abstract:: This paper evaluates international efforts to diagnose the global financial crisis and decide on appropriate responses, the treatments that were agreed and adopted, and the successes and failures as the crisis unfolded. International coordination of economic policies eventually contributed importantly to containing the crisis, but the authorities failed to agree on a diagnosis and the consequent need for joint action until the case was obvious. The policy actions that were adopted were powerful and effective, but they may have undermined prospects for coordinated responses to future crises.
Topic:: Government, International Cooperation, Financial Crisis, and Economy
Political Geography:: Global Focus

Author:: C. Fred Bergsten, Edwin M. Truman, and Jeromin Zettelmeyer
Publication Date:: 04-2017
Content Type:: Working Paper
Institution:: Istituto Affari Internazionali
Abstract:: This paper examines how G7 cooperation can be maintained in the Trump era. Its working assumption is that the US administration will remain open to international cooperation in principle and yet be constrained by Trump’s economic nationalism and specific campaign promises, such as reducing trade imbalances. The main finding is that useful areas for G7 macroeconomic, trade and financial cooperation continue to exist even after taking US constraints into account. At the same time, other G7 leaders need to be prepared to proceed on their own if attempts to convince the US administration that G7 economic cooperation is in the interests of all members fail. Paper presented at the international conference on “Major Challenges for Global Macroeconomic Stability. The Role of the G7”, organized in Rome on 27-28 March 2017 by the Istituto Affari Internazionali (IAI) with the support of the Italian Ministry of Foreign Affairs and International Cooperation and the Bank of Italy.
Topic:: International Cooperation, International Security, and International Affairs
Political Geography:: Global Focus

Author:: Edwin M. Truman
Publication Date:: 05-2011
Content Type:: Policy Brief
Institution:: Peterson Institute for International Economics
Abstract:: Reform of the international monetary system was placed on the agenda of the Group of 20 (G-20) a year ago at the initiative of the incoming French leadership of the G-20. On November 4, 2011 in Cannes, France, the G-20 leaders will announce their conclusions and agreements after a year and half of intense dialogue and debate. This policy brief summarizes my preliminary rating of the expected results based on the evidence to date: a barely passing grade on substance but an A for effort. Neither final grade is locked in stone, however.
Topic:: Economics, International Cooperation, International Trade and Finance, International Monetary Fund, Monetary Policy, and Financial Crisis
Political Geography:: France

Author:: Edwin M. Truman and Garry J. Schinasi
Publication Date:: 10-2010
Content Type:: Working Paper
Institution:: Peterson Institute for International Economics
Abstract:: This paper examines the implications of the global financial crisis of 2007–10 for reform of the global financial architecture, in particular the International Monetary Fund and the Financial Stability Board and their interaction. These two institutions are not fully comparable, but they must work more closely in the future to help prevent global financial crises. To this end, the paper identifies institutional and substantive reforms separately and in their joint work that would be desirable and appropriate.
Topic:: Economics, International Cooperation, International Political Economy, Global Recession, Monetary Policy, and Financial Crisis

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