A Bretton Woods Moment?

Benjamin Cohen
Louis G. Lancaster Professor of International Political Economy
Department of Political Science
University of California, Santa Barbara

Adam Posen
Senior Fellow

Peterson Institute for International Economics and Member

Monetary Policy Committee, Bank of England

Joseph Stiglitz
Professor of Economics
Department of Economics
Columbia University

Panelists will be asked to reflect upon the role of governments and central banks in overseeing a new financial architecture, and whether new institutional innovations, such as a new global reserve currency, are required. Some of the central questions to be explored include:

• Are the current international institutions, such as the IMF and BIS, sufficient to engage in global regulation? Are new institutional innovations required?
• At what institutional level, i.e. local, national, global, should cross-border financial transactions be regulated?
• Should central banks have an increased role in regulating the financial sector?
• Is a world of unrestrained global capital flows and financial innovation at odds with economic stability?
• Should the dollar be replaced by a global reserve currency?
• Is global economic stability possible if there is a generalized division of labor between producing and consuming nations?
• How has the crisis challenged both Monetarist and Keynesian macroeconomics?

Additional panelists TBA