New America Foundation. November 2012.
Today’s prolonged economic slump is fundamentally different from an ordinary recession. In the aftermath of a severe financial collapse, an economy is at risk of succumbing to a prolonged deflationary undertow. With asset prices reduced, the financial system damaged, unemployment high, consumer demand depressed, and businesses reluctant to invest, the economy gets stuck well below its full employment potential. In these circumstances, fiscal contraction and tight monetary policy would only make things worse, claims the author. [Note: contains copyrighted material].
Congressional Research Service. June 12, 2012.
This report evaluates the purpose, membership, financing, and focus of the IMF’s activities. It also discusses the role of Congress in shaping U.S. policy at the IMF and concludes by addressing key issues, both legislative and oversight-related, that Congress may wish to consider, including the role of the IMF as a lender of last resort; the adequacy of IMF resources; and the effectiveness of IMF surveillance.
https://www.fas.org/sgp/crs/misc/R42019.pdf [PDF format, 29 pages].
Congressional Research Service. February 23, 2012.
A trend depreciation of the dollar since 2002 raises concern among some in Congress and the public that the dollar’s decline is a symptom of broader economic problems, such as a weak economic recovery, rising public debt, and a diminished standing in the global economy. However, a falling currency is not always a problem, but possibly an element of economic adjustments that are, on balance, beneficial to the economy.
http://www.fas.org/sgp/crs/misc/RL34582.pdf [PDF format, 24 pages].
Commodity Futures Trading Commission and Securities and Exchange Commission. January 31, 2012.
The Commodity Futures Trading Commission and the Securities and Exchange Commission delivered to Congress a report on international swap regulation, as required by Section 719(c) of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The provision requires the Commissions to report on how swaps are regulated in the United States, Asia, and Europe and to identify areas of regulation that are similar and other areas of regulation that could be harmonized.
http://www.cftc.gov/ucm/groups/public/@swaps/documents/file/dfstudy_isr_013112.pdf [PDF format, 153 page].
Peterson Institute for International Economics. January 2012.
This working paper aims to take stock of global efforts towards financial reform since the start of the financial crisis in 2007–08 and to provide a synthetic (if simplified) picture of their status as of January 2012. Underlying dynamics are described and analyzed both at the global level (particularly G-20, International Monetary Fund, and the Financial Stability Board) and in individual jurisdictions, as well as the impact the crisis has had on these regions. The possible next steps of financial reform are then reviewed, including: the ongoing crisis management in Europe, the new emphasis on macroprudential approaches, the challenges posed by globally integrated financial firms, the implementation of harmonized global standards, and the links between financial systems and growth. [Note: contains copyrighted material].
http://www.iie.com/publications/wp/wp12-2.pdf [PDF format, 18 pages].