Two aspects of global imbalances - undervalued exchange rates and sovereign wealth funds - require a multilateral response. For reasons of inadequate leverage and eroding legitimacy, the International Monetary Fund has not been effective in dealing with undervalued exchange rates. This paper proposes new rules in the World Trade Organization to discipline cases of significant undervaluation that are clearly attributable to government action. The rationale...
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INFORMATION
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2008/07/01
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Document de travail de recherche sur les politiques
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WPS4668
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1
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1
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2010/07/01
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Disclosed
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Currency undervaluation and sovereign wealth funds : a new role for the World Trade Organization
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general agreement on tariffs and trade