The U.S. Department of the Treasury should transform its foreign currency report so it can be used as a tool to combat currency manipulation. This would be an important step toward a more balanced global economy with fewer persistent deficits and surpluses.
In modern economies, people may have jobs, but they still harbor major concerns in a wide range of areas, including security, health and work-life balance, income and distribution, training, mobility, and opportunity. By focusing solely on the unemployment rate, policymakers are ignoring the many dimensions of employment that affect welfare.
The second session of the Stephen C. Freidheim Symposium on Global Economics looks at how emerging markets (China, Brazil, India, Russia, etc.) have fared over the past decade, the extent to which reserve accumulation and flexible exchange rates have enabled them to manage shocks, and the question of current financial stability.