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Customer reviews

3.9 out of 5 stars
Global Imbalances and the Lessons of Bretton Woods (Cairoli Lectures)
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on August 31, 2015
Rather boring and ultra academic with too many end notes. Chapter 3, titled "How to Exit a Currency Peg: Japan and the End of The Bretton Woods System" presents, but does not derive, time-series regression analysis equations that are supposed to model and predict what will happen to the economy when Japan up pegs the Yen from the dollar. More explanation and detail needs to be provided on the derivation of this economic model. Stating, "We estimate an equation of the form" is not good enough to make Mr. Eichengreen's case believable. Also the input data upon which these equations are to make their predictions are rather sparse, perhaps better presented in an electronic edition of this book.
This book wa originally published in 2007, right before the world-wide Great Recession. It would be interesting to see how how Mr. Eichenberg's opinions and predictions have changed since the events of 2008 and the weeks-old revaluation of the Renminbi.
The interrelationships between currencies of the world is an ongoing story and I would encourage Mr. Eichengreen to update his Bretton Woods Lessons by encorporating the major financial and economic events since his original publication, and publish his update in electronic for so the reader can easily access the underlying data and time-series economic mathematical models. Also, this reader would prefer footnotes to the distracting endnotes.
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on November 2, 2016
If your into economics and you want readable books then Baz's book are as good as you can get.
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on July 13, 2015
Great book by Eichengreen!
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on October 21, 2011
Next Bretton Woods system, the gold wasn't ever the principal good for the changes. That produces new situation in the traditional financial back-ground. The USA accepted to mantain the dollar as substitute of the gold, but this fact is related to their influence.
The richness of the Asia countries modifies partially this context, but it isn't very clear the true role of China in the economic equilibria. If before Bretton Woods the great part of the economiy was sthatic, next we must talk about dynamic and not-linear conditions.
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on January 11, 2007
if you want to know how the unprecedented usa current account deficit and "bretton woods 2" stacks up against history, it will be harder to find a better book than this one. Why is the situation the same? why different? what should we expect? these and many more questions are answered in a 4 chapter book that is a MUST read for anyone short the dollar but still a little scared of going up against such large players (the foreign CBs)... the book is meant for people who already have a strong grasp of international monetary theory but no math is involved (so it's a quick read). Well worth the money!
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