11. Currency Wars?
- Author:
- William R. Cline and John Williamson
- Publication Date:
- 11-2010
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- A widespread currency war is in prospect. The term was first introduced by Guido Mantega, the finance minster of Brazil. He envisaged the International Monetary Fund (IMF) developing an index that measures whether currencies are held artificially low to boost exports (popularly referred to as “currency manipulation”). If that IMF exercise did not lead to an easing of such exchange market intervention, he suggested that an undervalued exchange rate could eventually be considered a commercial subsidy.
- Topic:
- Economics, International Cooperation, International Trade and Finance, and Monetary Policy
- Political Geography:
- Brazil