TY  - JOUR
AU  - Eichengreen, Barry
TI  - International Policy Coordination: The Long View
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 17665
PY  - 2011
Y2  - December 2011
DO  - 10.3386/w17665
UR  - http://www.nber.org/papers/w17665
L1  - http://www.nber.org/papers/w17665.pdf
N1  - Author contact info:
Barry Eichengreen
Department of Economics
University of California, Berkeley
549 Evans Hall 3880
Berkeley, CA 94720-3880
Tel: 510/642-2772
Fax: 510/643-0926
E-Mail: eichengr@econ.Berkeley.edu
M1  - published as Barry Eichengreen. "International Policy Coordination: The Long View," in Robert C. Feenstra and Alan M. Taylor, editors, "Globalization in an Age of Crisis: Multilateral Economic Cooperation in the Twenty-First Century" University of Chicago Press (2014)

M3  - presented at "Globalization in an Age of Crisis", September 14-16, 2011
AB  - This paper places current efforts at international economic policy coordination in historical perspective.  It argues that successful cooperation is most likely in four sets of circumstances.  First, when it centers on technical issues.  Second, when cooperation is institutionalized - when procedures and precedents create presumptions about the appropriate conduct of policy and reduce the transactions costs of reaching an agreement.  Third, when it is concerned with preserving an existing set of policies and behaviors (when it is concerned with preserving a policy regime).  Fourth, when it occurs in the context of broad comity among nations.  These points are elaborated through a review of 150 years of historical experience and then used to assess the scope for cooperative responses to the current economic crisis.
ER  -