Peterson Institute Press Room

Media Advisory: Korean Trade Minister to Speak About "The KORUS Free Trade Agreement, Korea's Free Trade Agreement Policy and the Dynamics of East Asian Economic Integration"

WHO:	Taeho Bark Trade Minister of Korea
WHEN:	Wednesday, May 16, 2012 12 Noon–2:00 PM (Lunch at noon, program at 12:30)
WHERE:	C. Fred Bergsten Conference Center Peter G. Peterson Institute for International Economics 1750 Massachusetts Avenue, NW Washington, DC 20036 (Metro: Red Line to Dupont Circle)
RSVP:	Brian Reil, media@piie.com 202-454-1334 Note: This meeting is open to all press but by invitation only to the general public. Please also note if technical assistance is required.

The Peterson Institute will host a presentation by Taeho Bark, Trade Minister of Korea, on the afternoon of May 16. He will address “The KORUS FTA, Korea’s FTA Policy and the Dynamics of East Asian Economic Integration.” Korea has conducted an extremely effective trade policy over the last decade, negotiating FTAs with its partners from all parts of the world. The Korean initiatives thus offer a potential bridge between the “Asia track” of Asia-only agreements and the “Pacific track” characterized by the Trans Pacific Partnership, a key issue for the future trade (and political) architecture of the region and indeed the world economy.

Dr. Bark became Korea’s Minister for Trade on December 30, 2011. He was previously Professor of Economics, and for a while Dean of the Graduate School of International Studies at Seoul National University. He served on earlier occasions as a Senior Fellow and Vice President of the Korea Institute for International Economic Policy. During these periods, he also chaired the Korea International Trade Commission for three years and was member of the Presidential Commission for the National Economy. He received his PhD at the University of Wisconsin and taught at Georgetown for four years.

Brian Reil
Media Liaison
Peterson Institute for International Economics
1750 Massachusetts Avenue, NW
Washington, DC 20036
media@piie.com
www.piie.com
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Media Advisory: Jean-Claude Trichet to Deliver the Eleventh Stavros Niarchos Foundation Lecture at the Peterson Institute for International Economics

WHO:	Jean-Claude Trichet Former President of the European Central Bank
WHEN:	Thursday, May 17, 2012 5:00 PM–6:30 PM Video cameras will need to be in place by 4:30 PM (A reception and dinner that are closed to the press will follow the lecture)
WHERE:	C. Fred Bergsten Conference Center Peter G. Peterson Institute for International Economics 1750 Massachusetts Avenue, NW Washington, DC 20036 (Metro: Red Line to Dupont Circle)
RSVP:	media@piie.com Note: Because of space constraints you must RSVP if you plan to cover the lecture. Those not on the attendee list will not be accommodated. -The event is by invitation only for the general public. -Please also note if technical assistance is required.

On May 17, 2012, the Peterson Institute will host Jean-Claude Trichet as he delivers the eleventh annual Stavros Niarchos Foundation Lecture. Trichet, who stepped down last year as President of the European Central Bank, will discuss the financial and economic crisis in Europe and the future prospects of the euro area.

Trichet began his career in the French Ministry of Finance in 1974. He became chairman of the Paris Club on sovereign debt rescheduling in 1985 and Director of the Treasury Department in 1987. He moved to Governor of the Banque de France in 1993, serving there until 2003. Trichet was a founding member of the Governing Council of the European Central Bank from 1998 and became its President in 2003. He has participated intensively in international economic groupings, both in Europe and globally, throughout his career.

The lecture, the Institute's signal annual event, is made possible by a generous grant from the Stavros Niarchos Foundation, whose support enables the Institute to present a major program each year on a topic of central concern to the U.S. and international policy communities.

Brian Reil
Media Liaison
Peterson Institute for International Economics
1750 Massachusetts Ave, NW Washington, DC, 20036
(202) 454-1334
Cell: (202) 553-9018
breil@piie.com
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Media Advisory: Howard F. Rosen Explains Some Ominous Job Trends in the US Economy

May 3, 2012—Ahead of the unemployment numbers being released Friday Howard F. Rosen discusses his latest research showing that jobs being added in the United States pay less on average than the jobs lost in the Great Recession. You can listen to Rosen's explanation online.

If you are interested in discussing the data with Rosen on Friday please contact Brian Reil at media@piie.com or 202-454-1334.

Brian Reil
Media Liaison
Peterson Institute for International Economics
1750 Massachusetts Avenue, NW
Washington, DC 20036
media@piie.com
www.piie.com
RSS - twitter - facebook

Media Advisory: Martin Wolf of the Financial Times to Speak About "Why the Eurozone Crisis is Not Over"

WHO:	Martin Wolf Chief Economics Commentator, the Financial Times
WHEN:	Thursday, May 3, 2012 Noon–2:00 PM (Lunch at noon, program at 12:30)
WHERE:	C. Fred Bergsten Conference Center Peter G. Peterson Institute for International Economics 1750 Massachusetts Avenue, NW Washington, DC 20036 (Metro: Red Line to Dupont Circle)
RSVP:	media@piie.com Note: This meeting is open to all press but by invitation only to the general public. Please also note if technical assistance is required.

The Peterson Institute and the National Economists Club will jointly host a luncheon meeting in honor of Martin Wolf, the chief economics commentator of the Financial Times, at the Institute on Thursday, May 3. Wolf will address the topic "Why the Eurozone Crisis is Not Over." He believes that it in fact has barely begun and requires a process of adjustment that could take a full decade. He asks whether the member countries have the will to make that process work and thus to resolve the crisis successfully?

Martin Wolf is probably the most widely read, and most influential, economics columnist in the world. He was awarded the CBE (Commander of the British Empire) in 2000 "for services to financial journalism" and is an associate member of the governing body of Nuffield College, Oxford; honorary fellow of Corpus Christi College, Oxford; honorary fellow of the Oxford Institute for Economic Policy (Oxonia) and a special professor at the University of Nottingham. He was made a Doctor of Letters, honoris causa, by Nottingham University in July 2006 and a Doctor of Science (Economics) of London University, honoris causa, by the London School of Economics in December 2006. Wolf's most recent books are Why Globalization Works and Fixing Global Finance.

Brian Reil
Media Liaison
Peterson Institute for International Economics
1750 Massachusetts Ave, NW Washington, DC, 20036
(202) 454-1334
Cell: (202) 553-9018
breil@piie.com
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Media Advisory: New Book Discusses How Developing and Emerging-Market Economies Should Integrate into Global Financial Markets

April 30, 2012

In their new book, Who Needs To Open The Capital Account?, Olivier Jeanne, Arvind Subramanian, and John Williamson revisit the question of how developing and emerging-market economiesintegrate into global financial markets. Twenty years after the rise of emerging-market finance there remains a wide diversity of approaches to capital account policies. Some emerging-market economies maintain a completely open capital account. Others, most notably Brazil, have experimented more actively with market-based prudential capital controls since the crisis. And still other countries, such as China, maintain tight restrictions on their capital accounts.

The authors argue that this diversity of policies is consistent with the lack of strong evidence for or against the benefits of capital account liberalization. They show that free capital mobility seems to have little impact on economic development (although there is some evidence that foreign direct investment and stock market liberalization may, at least temporarily, raise growth). Furthermore, economists now understand better the welfare benefits of prudential capital controls of the type that Brazil is using to curb the boom-bust cycle in capital flows.

This being said, Jeanne, Subramanian, and Williamson find the status quo—in which there is no international rule or discipline for capital account policies—problematic. Thus, the authors see a need for an international regime that would legitimize the use of capital account policies that are appropriate and discourage the use of those that are not.

The book sets out the desirable features of an international norm for capital account policies. As for trade in goods, if there are controls, Jeanne, Subramanian, and Williamson would be strongly in favor of having transparent, price-based measures, such as a countercyclical tax on certain types of capital flows. The international community could agree on a ceiling on the tax rate to ensure that the harmful effects of controls (if any) would be limited. The new rules could be embodied in an international code of good practices developed under the auspices of the International Monetary Fund.

To request a copy of the book, or to speak with one of the authors, please contact Brian Reil at media@piie.com or 202-454-1334.

Brian Reil
Media Liaison
Peterson Institute for International Economics
1750 Massachusetts Ave, NW Washington, DC, 20036
(202) 454-1334
Cell: (202) 553-9018
breil@piie.com
RSS | twitter | facebook

Conference Call to Discuss US-China Strategic and Economic Dialogue, Tuesday, May 1, 2012, 11 am EST

In advance of the next Strategic and Economic Dialogue between the United States and China—which takes place in Beijing on May 3—the Peterson Institute for International Economics will hold a telephone conference call to discuss issues confronting both sides. The call will start at 11 am EST on Tuesday, May 1.

Of special interest for media, several of those participating in the call will have just returned from a China-US Economists Symposium in Beijing. The symposium is jointly sponsored by the Peterson Institute and the China Finance 40 Forum, an independent policy forum connected to leading Chinese businesses. Joining the 13 representatives from the Peterson Institute at the symposium, titled “U.S. and China: Systemic Responsibilities for the Global Economy” are leading Chinese business executives and policymakers in the government. From our side, there should be fresh perspectives on Chinese thinking, as Secretaries Clinton and Geithner prepare to meet some of the same people in Beijing.

Nicholas R. Lardy and Joseph E. Gagnon will lead the discussion.

The call will last approximately one hour. If you plan to participate, please confirm with Brian Reil at breil@piie.com.

Call-in instructions are below:

At 11:00 am, dial the Toll-Free Access Number 800-952-1647 or Direct Dial/International Access Number 404-920-1712.
When prompted, enter your Participant Code followed by #.
Your Participant Code is 39539386.

Star Commands:

*1 - Question - When the call opens up to questions, you can “Raise Your Hand” by pressing *1. You will verbally be prompted to ask your question when it is your turn.
*4-Volume - Pressing *4 will increase/decrease volume.
*6-Mute - Participants can mute/unmute their own lines by pressing *6.

Brian Reil
Media Liaison
Peterson Institute for International Economics
1750 Massachusetts Avenue, NW
Washington, DC 20036
media@piie.com
www.piie.com
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Media Advisory: Minister for Finance of Sweden to Discuss How Sweden Has Achieved Favorable Economic Results During the Economic Crisis

WHO:	Anders Borg Minister for Finance of Sweden
WHEN:	Monday, April 23, 2012 Noon–2:00 PM (Lunch at noon, program at 12:30)
WHERE:	C. Fred Bergsten Conference Center Peter G. Peterson Institute for International Economics 1750 Massachusetts Avenue, NW Washington, DC 20036 (Metro: Red Line to Dupont Circle)
RSVP:	media@piie.com Note: This meeting is open to all press but by invitation only to the general public. Please also note if technical assistance is required.

The Institute will host a presentation by Anders Borg, the Minister for Finance of Sweden, on the afternoon of Monday, April 23. Sweden has been the most dramatic success story of any European economy through the crisis period and Minister Borg will describe how a combination of earlier reforms and current policies have enabled his country to record such favorable results.

Anders Borg became Minister for Finance in 2006 and has been widely recognized as the chief architect of the Swedish Government’s economic policy, adopting a series of proactive measures to create jobs and maintain growth. He was previously Chief Economist of the Moderate Party and served as an Advisor on Monetary Policy to the Riksbank and Head of the Economic Analysis Department at SEB in Stockholm. He was a political advisor to Prime Minister Carl Bildt during the center-right government of the early 1990s.

Brian Reil
Media Liaison
Peterson Institute for International Economics
1750 Massachusetts Ave, NW Washington, DC, 20036
(202) 454-1334
Cell: (202) 553-9018
breil@piie.com
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Media Advisory: China's Appreciating Currency and Declining Current Account Surplus: What They Mean for US Policy

April 18, 2012

China's Appreciating Currency and Declining Current Account Surplus: What They Mean for US Policy

China's role in the world economy remains a major issue confronting economic, banking and finance leaders meeting in Washington this week. Of continuing concern is China's undervalued currency and its large current account surplus, a factor in the global imbalances that fed the crisis of the last few years. Is China correct, however, that its much-criticized record has improved?

In a new Policy Brief [pdf] Peterson Institute Senior Fellow William R. Cline examines the latest evidence, including new numbers published on April 5, to determine whether the moderate 2011 surplus of 2.8 percent was a transitory aberration or a sign of a new trend. Cline writes that if the Chinese government continues real appreciation at the 3 percent annual rate pursued since June 2010, by 2017 the current account would be approximately in balance. But he suggests that other factors could also contribute to a worsening of the problem.

�As the debate heats up over this issue, Peterson Institute senior fellows are exchanging their own diverse views over the policy implications for the United States, at a time when China's currency practices have become a focus in the presidential race.

Please check Peterson Perspectives to hear what William R. Cline, Joseph E. Gagnon, Nicholas R. Lardy, and Arvind Subramanian have to say.

Brian Reil
Media Liaison
Peterson Institute for International Economics
1750 Massachusetts Ave, NW Washington, DC, 20036
(202) 454-1334
Cell: (202) 553-9018
breil@piie.com
RSS | twitter | facebook

Media Advisory: Finance Minister of India to Speak About "India and the World: Short and Medium-Term Prospects"

WHO:	Pranab Mukherjee Finance Minister of India
WHEN:	Friday, April 20, 2012 5:00 PM – 6:00 PM Note: All video cameras must be in place before 4:00 PM.* No additional video cameras will be allowed in after that time.*
WHERE:	C. Fred Bergsten Conference Center Peter G. Peterson Institute for International Economics 1750 Massachusetts Avenue, NW Washington, DC 20036 (Metro: Red Line to Dupont Circle)
RSVP:	Brian Reil, media@piie.com Note: This meeting is open to all press but by invitation only to the general public. Please also note if technical assistance is required.

The Institute, along with the Confederation of Indian Industry (CII), will host a presentation by Pranab Mukherjee, the Finance Minister of India, on the afternoon of Friday, April 20. He will be in Washington for the spring meetings of the IMF and World Bank and will address the topic “India and the World: Short and Medium-Term Prospects.”

Mukherjee has had a parliamentary career spanning four decades and was voted Outstanding Parliamentarian in 1997. He was previously both Finance and External Affairs Minister and held several other important portfolios. He is now a senior member of the Cabinet Committees on Economic Affairs, Infrastructure, Parliamentary Affairs, Political Affairs, Prices, Security, Unique Identification Authority of India, and World Trade Organization. He is a member of the Congress Working Committee (CWC), the highest decision-making body of the Indian National Congress. In December 2010, The Banker recognized him as Finance Minister of the Year.

Media Advisory: A Busy Agenda for the World Bank-IMF Spring Meetings

April 16, 2012

Leaders of the World Bank, the International Monetary Fund and finance ministries and central banks across the globe are convening in Washington this week. Please take a look at how scholars at the Peterson Institute for International Economics are discussing the many problems they face.

Simon Johnson believes that Jim Yong Kim was the right choice to be the next president of the World Bank because of his background in public health issues in poor countries. In a new posting on RealTime and Baseline Scenario, Johnson says "the World Bank does not need 'more of the same' in terms of vision from its leadership" and that the bank already "does good work supporting public health initiatives, but it could do much more."

On the issue of shoring up the International Monetary Fund's role in the world economy, Edwin M. Truman writes in Foreign Policy magazine that the "G-20 is failing to live up to its pledge it made in Seoul in November 2010 to implement a two-step reform of the IMF's governance."

Dr. Truman explains that "The leaders of the G-20 countries have played a crucial role in rescuing the world from the brink of economic and financial disaster. They agreed to an impressive agenda in Washington in November 2008" that is now "in danger of unraveling," he says, with potential danger "for the still-precarious world economy."

Is the role of the dollar in the world economy declining? In a separate posting on RealTime Economic Issues Truman and his co-author Allie E. Bagnall explain that "the world is moving rapidly toward a multicurrency international reserves system" and that "the US dollar is less dominant, and there are many other currencies in the mix—including, increasingly, non-traditional minor reserve currencies." They base their conclusions on new calculations of the world's inventory of foreign exchange reserves.

The IMF-World Bank meetings are also certain to discuss the precarious situation in Europe. Jacob Kirkegaard, in RealTime Economic Issues, suggests that markets might be overreacting to the situation in Spain, and that the European Central Bank is determined not to let Spain default. In another RealTime posting, Nicolas Véron says Europe suffers because too much credit is channeled through the banking system, and that Europe should drop its resistance to growing the non-bank credit sector.

Brian Reil
Media Liaison
Peterson Institute for International Economics
1750 Massachusetts Ave, NW Washington, DC, 20036
(202) 454-1334
Cell: (202) 553-9018
breil@piie.com
RSS | twitter | facebook

Media Advisory: White House Burning: The Founding Fathers, Our National Debt and Why It Matters to You

WHO:	Simon Johnson Senior Fellow, PIIE and Professor of Entrepreneurship, MIT
WHEN:	Monday, April 9, 2012 Noon–2:00 PM (Lunch at noon, program at 12:30)
WHERE:	C. Fred Bergsten Conference Center Peter G. Peterson Institute for International Economics 1750 Massachusetts Avenue, NW Washington, DC 20036 (Metro: Red Line to Dupont Circle)
RSVP:	Brian Reil, Media Liaison, media@piie.com Note: This meeting is open to all press but by invitation only to the general public. Please also note if technical assistance is required.

PIIE will host a luncheon on Monday, April 9 to release Simon Johnson’s new book White House Burning: The Founding Fathers, Our National Debt and Why It Matters to You. The book provides a comprehensive analysis of the current US fiscal problem and offers proposals for effective policy response.

Simon Johnson has been a Senior Fellow at the Institute since leaving his post as Economic Counsellor and Director of the Research Department at the International Monetary Fund in 2008. He is also Professor of Entrepreneurship at the Sloan School of Management at MIT. His latest book, 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown, reached £5 on the New York Times bestsellers list and has sold over 100,000 copies. His coauthor James Kwak is an associate professor at the University of Connecticut School of Law and a fellow at the Harvard Law School Program on Corporate Governance.

Brian Reil
Media Liaison
Peterson Institute for International Economics
1750 Massachusetts Avenue, NW
Washington, DC 20036
media@piie.com
www.piie.com
RSS - twitter - facebook

PIIE Media Advisory: Brian Reil Joins the Peterson Institute for International Economics as Media Liaison

March 27, 2012

Contact: Brian Reil, Media Liaison, (202) 454-1334

Washington, DC - Effective Monday, March 26, I am the new media liaison for the Peterson Institute for International Economics. As media liaison I will be the point of contact for interview requests, conference call briefings, and events covering the issues of the day.

Prior to joining the Peterson Institute I coordinated media outreach, marketing, and events for The Johns Hopkins University's Krieger School of Arts and Sciences' Washington, DC Center.

I look forward to being a resource for the news media covering important international economic issues. Please let me know if there is anything I can do to assist you. I would also be interested in any suggestions you might have in how I can improve on the service you are already receiving from the Institute.

You can continue to use media@piie.com for your media requests and questions but I can also be reached at breil@piie.com, I can be reached by phone at (202) 454-1334, or by cell phone (202) 553-9018.

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