Download e-book for kindle: Accountability and Oversight of US Exchange Rate Policy by C. Randall Henning

By C. Randall Henning

The dispute over chinese language trade expense coverage in the usa has generated a chain of legislative proposals to limit the discretion of the united states Treasury division in settling on foreign money manipulation and to reform the department's responsibility to the Congress. This examine studies the Treasury's reviews to the Congress on alternate price coverage brought through the 1988 exchange act and Congress's therapy of them. It unearths that the responsibility procedure has usually no longer labored good in perform: The assurance of the stories has occasionally been incomplete and never supplied a enough foundation for congressional oversight. Nor has Congress continuously played its personal function good, maintaining hearings on under half the studies and overlooking very important noticeable concerns. numerous thoughts can enhance suggestions to the Treasury, criteria for overview, and congressional oversight. those comprise (1) refining the factors used to figure out foreign money manipulation and writing them into legislation; (2) explicitly harnessing US judgements on manipulation to the IMF's principles on trade premiums; (3) clarifying the final pursuits folks alternate fee coverage; (4) reaffirming the mandate to hunt overseas macroeconomic and foreign money cooperation; and (5) institutionalizing multicommittee oversight of trade expense coverage through Congress. As they strengthen laws concentrating on manipulation, moreover, legislators are usually not lose sight of the wider reasons of the 1988 act in relation to the potent valuation of the buck, the present account, and their ramifications for the U.S. economic system overall.

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Accountability and Oversight of US Exchange Rate Policy (Policy Analyses in International Economics) by C. Randall Henning


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