Textbook Notes (369,205)
Canada (162,462)
POLI 243 (75)
Chapter 23

CHAPTER 23: JAPAN INTERNATIONAL MONETARY RESPONSIBILITIES, AND POLICY COORDINATION: THE LOUVRE AND PLAZA ACCORDS

2 Pages
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Department
Political Science
Course Code
POLI 243
Professor
Mark Brawley

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CHAPTER 23 JAPAN INTERNATIONAL MONETARY RESPONSIBILITIES AND POLICY COORDINATION THE LOUVRE AND PLAZA ACCORDS US Monetary Policy in the 1980sThe actions of a leader behaving irresponsibly Resolving its own problems with inflationDrove up interest rates and sparked international debt crisisBecame a net international debtorUS trade balance went into a large deficit largely due to the dollars over evaluation Responding to Dollar Over Liquidity AgainGNP of the US grew along with employment while inflation and unemployment rates fellReagan administration o Focused on pressuring other countries to liberalize trade o Introduced new bonds to attract foreign capitalo Bureaucratic PoliticsFed was tightening the domestic money supplyThe treasury was running a loose fiscal policyThe Fed pursued its objective of strengthening the dollar regardless of the short run economicrepercussionsC
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