Institute for International Economics
Encyclopedia
Think tank
A think tank is an organization that conducts research and engages in advocacy in areas such as social policy, political strategy, economics, military, and technology issues. Most think tanks are non-profit organizations, which some countries such as the United States and Canada provide with tax...
focused on international economics, based in Washington, D.C.
Washington, D.C.
Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....
It was founded by C. Fred Bergsten
C. Fred Bergsten
C. Fred Bergsten is an American economist, author, and political adviser. He has served as Assistant Secretary for International Affairs at the U.S. Treasury Department and has been director of the Peterson Institute for International Economics, formerly the Institute for International Economics,...
in 1981, in response to a proposal from the German Marshall Fund
German Marshall Fund
The German Marshall Fund of the United States is a nonpartisan American public policy and grantmaking institution dedicated to promoting greater cooperation and understanding between North America and Europe....
.
The Institute's annual budget is about $9 million and it is financially supported by a wide range of charitable foundations, private corporations, and individuals; as well as earnings from the Institute's publications and capital fund.
The Institute moved into its own award-winning building, designed by James von Klemperer of Kohn Pedersen Fox
Kohn Pedersen Fox
Kohn Pedersen Fox Associates , an architectural firm responsible for several world-renowned buildings, provides architectural, interior and urban design as well as programming and master planning services for clients in both the public and private sectors...
. It includes full conference and videoconferencing facilities, at 1750 Massachusetts Avenue
Massachusetts Avenue (Washington, D.C.)
Massachusetts Avenue is a major diagonal transverse road in Washington, D.C., and the Massachusetts Avenue Historic District is a historic district that includes part of it....
("Embassy Row"), NW, Washington, DC, in the summer of 2001. It is located across from the Brookings Institution
Brookings Institution
The Brookings Institution is a nonprofit public policy organization based in Washington, D.C., in the United States. One of Washington's oldest think tanks, Brookings conducts research and education in the social sciences, primarily in economics, metropolitan policy, governance, foreign policy, and...
, diagonally across from Carnegie Endowment for International Peace
Carnegie Endowment for International Peace
The Carnegie Endowment for International Peace is a foreign-policy think tank based in Washington, D.C. The organization describes itself as being dedicated to advancing cooperation between nations and promoting active international engagement by the United States...
, and next to the Paul H. Nitze School of Advanced International Studies
Paul H. Nitze School of Advanced International Studies
The Paul H. Nitze School of Advanced International Studies , a division of Johns Hopkins University based in Washington, D.C., is one of the world's leading and most prestigious graduate schools devoted to the study of international affairs, economics, diplomacy, and policy research and...
.
Directors
The institute chairman is the chairman of the Council on Foreign RelationsCouncil on Foreign Relations
The Council on Foreign Relations is an American nonprofit nonpartisan membership organization, publisher, and think tank specializing in U.S. foreign policy and international affairs...
and former United States Secretary of Commerce
United States Secretary of Commerce
The United States Secretary of Commerce is the head of the United States Department of Commerce concerned with business and industry; the Department states its mission to be "to foster, promote, and develop the foreign and domestic commerce"...
, Peter G. Peterson
Peter George Peterson
Peter G. Peterson is an American businessman, investment banker, fiscal conservative, author, and politician whose most prominent political position was as United States Secretary of Commerce from February 29, 1972, to February 1, 1973 under Richard Nixon. He is most well known currently as...
. Vice chairman is United Technologies Corporation
United Technologies Corporation
United Technologies Corporation is an American multinational conglomerate headquartered in the United Technologies Building in Hartford, Connecticut...
Chairman, George David
George David
George David is the former Chairman and Chief Executive Officer of United Technologies Corporation. David was elected UTC’s President in 1992 and Chief Executive Officer in 1994. He joined UTC’s Otis Elevator subsidiary in 1975 and became its President in 1986.-Life and career:David was born in...
.
Other prominent members of the institute's board of directors include:
- Leszek BalcerowiczLeszek BalcerowiczLeszek Balcerowicz is a Polish economist, the former chairman of the National Bank of Poland and Deputy Prime Minister in Tadeusz Mazowiecki's government...
, former Chairman of the National Bank of PolandNational Bank of PolandNarodowy Bank Polski is the central bank of Poland. It controls the issuing of Poland's currency, the złoty. The Bank is headquartered in Warsaw, and has branches in every major Polish town...
; - Ronnie ChanRonnie ChanRonnie Chan Chi-chung is a Hong Kong entrepreneur. He graduated with an MBA from the University of Southern California....
, Chairman, Hang Lung PropertiesHang Lung PropertiesHang Lung Properties , formerly Amoy Properties and parented by Hang Lung Group, is a Chinese real estate company with its headquarters in Hong Kong. It is a member of Hang Seng Index Constituent Stocks ....
; - Chen YuanChen YuanChen Yuan , born in January 1945, is Governor of the China Development Bank.Chen Yuan graduated with a Master' s degree in Industrial Economics from the Graduate School of Chinese Academy of Social Sciences...
, Governor of the China Development BankChina Development BankThe China Development Bank is a financial institution in the People's Republic of China under the direct jurisdiction of the State Council. It is the only bank in China whose governor is a full minister...
; - Jessica EinhornJessica EinhornJessica P. Einhorn currently serves as Dean of Washington's Paul H. Nitze School of Advanced International Studies of the Johns Hopkins University. Einhorn succeeded Paul Wolfowitz, who resigned in 2001 to become the U.S. Deputy Secretary of Defense...
, Dean of the Paul H. Nitze School of Advanced International StudiesPaul H. Nitze School of Advanced International StudiesThe Paul H. Nitze School of Advanced International Studies , a division of Johns Hopkins University based in Washington, D.C., is one of the world's leading and most prestigious graduate schools devoted to the study of international affairs, economics, diplomacy, and policy research and...
; - Mohamed A. El-ErianMohamed A. El-ErianDr. Mohamed A. El-Erian is the CEO and co-CIO of PIMCO, a global investment management firm and one of the world’s largest bond investors with approximately US$1.34 trillion of assets under management as of June 30, 2011....
, Co-CEO and Co-CIO, PIMCO; - Stanley FischerStanley FischerStanley "Stan" Fischer is an American-Israeli economist and the current Governor of the Bank of Israel. He previously served as Chief Economist at the World Bank.-Biography:...
, Governor of the Bank of IsraelBank of IsraelThe Bank of Israel is the central bank of Israel. It is located in Kiryat HaMemshala in Israel's capital city of Jerusalem, with a branch office in Tel Aviv. The current governor is Stanley Fischer.-History:...
; - Jacob A. Frenkel, Vice-Chairman of American International GroupAmerican International GroupAmerican International Group, Inc. or AIG is an American multinational insurance corporation. Its corporate headquarters is located in the American International Building in New York City. The British headquarters office is on Fenchurch Street in London, continental Europe operations are based in...
and former Governor of the Bank of Israel; - Maurice R. GreenbergMaurice R. GreenbergMaurice Raymond "Hank" Greenberg is an American business executive and former chairman and CEO of American International Group , which was the world's 18th largest public company and its largest insurance and financial services corporation.He is currently chairman and CEO of C.V. Starr & Co., Inc....
, former CEO of American International Group; - Carla A. Hills, Chairman, Hills & Company; former United States Trade Representative; former Secretary of Housing and Urban Development; former Assistant Attorney General of the United States;
- Lee Kuan YewLee Kuan YewLee Kuan Yew, GCMG, CH is a Singaporean statesman. He was the first Prime Minister of the Republic of Singapore, governing for three decades...
, former Prime Minister of the Republic of Singapore; - Reynold Levy, President of Lincoln Center for the Performing ArtsLincoln Center for the Performing ArtsLincoln Center for the Performing Arts is a complex of buildings in the Lincoln Square neighborhood of New York City's Upper West Side. Reynold Levy has been its president since 2002.-History and facilities:...
; - Paul O'Neill, former United States Secretary of the TreasuryUnited States Secretary of the TreasuryThe Secretary of the Treasury of the United States is the head of the United States Department of the Treasury, which is concerned with financial and monetary matters, and, until 2003, also with some issues of national security and defense. This position in the Federal Government of the United...
; - David O'ReillyDavid J. O'ReillyDavid J. O'Reilly , is former chairman and CEO of Chevron Corporation. In 1968, he graduated with a bachelor's degree in chemical engineering from University College, Dublin, from which he also received an honorary doctor of science degree in June 2002. He began his career with Chevron Research...
, Chairman of Chevron Corp.; - James W. OwensJames W. OwensJames W. Owens is the former Chairman and Chief Executive Officer of Caterpillar Inc., the world's largest manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines...
, Chief Executive of Caterpillar Inc.Caterpillar Inc.Caterpillar Inc. , also known as "CAT", designs, manufactures, markets and sells machinery and engines and sells financial products and insurance to customers via a worldwide dealer network. Caterpillar is the world's largest manufacturer of construction and mining equipment, diesel and natural gas...
; - David RockefellerDavid RockefellerDavid Rockefeller, Sr. is the current patriarch of the Rockefeller family. He is the youngest and only surviving child of John D. Rockefeller, Jr. and Abby Aldrich Rockefeller, and the only surviving grandchild of oil tycoon John D. Rockefeller, founder of Standard Oil. His five siblings were...
, former chairman of Chase Manhattan BankChase Manhattan BankJPMorgan Chase Bank, N.A., doing business as Chase, is a national bank that constitutes the consumer and commercial banking subsidiary of financial services firm JPMorgan Chase. The bank was known as Chase Manhattan Bank until it merged with J.P. Morgan & Co. in 2000...
; - Edward W. ScottEdward W. ScottEdward W. "Ed" Scott, Jr. is an American businessman, philanthropist, and former senior United States government official. Along with Bill Coleman and Alfred Chuang, he founded enterprise software company BEA Systems....
, cofounder of BEA SystemsBEA SystemsBEA Systems, Inc. specialized in enterprise infrastructure software products known as "middleware", which connect software applications to databases and was acquired by Oracle Corporation on April 29, 2008.- History :...
; - Lawrence SummersLawrence SummersLawrence Henry Summers is an American economist. He served as the 71st United States Secretary of the Treasury from 1999 to 2001 under President Bill Clinton. He was Director of the White House United States National Economic Council for President Barack Obama until November 2010.Summers is the...
, former United States Secretary of the TreasuryUnited States Secretary of the TreasuryThe Secretary of the Treasury of the United States is the head of the United States Department of the Treasury, which is concerned with financial and monetary matters, and, until 2003, also with some issues of national security and defense. This position in the Federal Government of the United...
; - Jean-Claude TrichetJean-Claude TrichetJean-Claude Trichet is a French civil servant who was the president of the European Central Bank, a position he held from 2003 to 2011. He is also a member of the Board of Directors of the Bank for International Settlements...
, President of the European Central BankEuropean Central BankThe European Central Bank is the institution of the European Union that administers the monetary policy of the 17 EU Eurozone member states. It is thus one of the world's most important central banks. The bank was established by the Treaty of Amsterdam in 1998, and is headquartered in Frankfurt,...
; - Laura D'Andrea TysonLaura D'Andrea TysonLaura D'Andrea Tyson is an American economist and former Chair of the US President's Council of Economic Advisers during the Clinton Administration. She also served as Director of the National Economic Council...
, former Chairman of the President's Council of Economic Advisors; - Paul VolckerPaul VolckerPaul Adolph Volcker, Jr. is an American economist. He was the Chairman of the Federal Reserve under United States Presidents Jimmy Carter and Ronald Reagan from August 1979 to August 1987. He is widely credited with ending the high levels of inflation seen in the United States in the 1970s and...
, former Chairman of the Federal ReserveChairman of the Federal ReserveThe Chairman of the Board of Governors of the Federal Reserve System is the head of the central banking system of the United States. Known colloquially as "Chairman of the Fed," or in market circles "Fed Chairman" or "Fed Chief"...
; - Marina v.N. WhitmanMarina von Neumann WhitmanMarina von Neumann Whitman is Professor of Business Administration and Public Policy at the University of Michigan's Ross School of Business as well as The Gerald R. Ford School of Public Policy. She is also a member of the board of directors at the Peterson Institute.Professor Whitman was...
, Professor of Business Administration and Public Policy at the Ross School of BusinessRoss School of BusinessThe Stephen M. Ross School of Business is the business school of the University of Michigan. Numerous publications have ranked the Ross School of Business' Bachelor of Business Administration , Master of Business Administration and Executive Education programs among the top in the country and the...
; - Ernesto ZedilloErnesto ZedilloErnesto Zedillo Ponce de León is a Mexican economist and politician. He served as President of Mexico from December 1, 1994 to November 30, 2000, as the last of the uninterrupted seventy year line of Mexican presidents from the Institutional Revolutionary Party...
, former President of MexicoMexicoThe United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
.
C. Fred Bergsten
C. Fred Bergsten
C. Fred Bergsten is an American economist, author, and political adviser. He has served as Assistant Secretary for International Affairs at the U.S. Treasury Department and has been director of the Peterson Institute for International Economics, formerly the Institute for International Economics,...
, previously the assistant secretary for international affairs at the U.S. Treasury Department
United States Department of the Treasury
The Department of the Treasury is an executive department and the treasury of the United States federal government. It was established by an Act of Congress in 1789 to manage government revenue...
, has been the director of the Institute since its founding.
The institute attracts some of the most influential former officials and academics as resident senior fellows. They include former chief economist and director of research department at the IMF, Michael Mussa, and former assistant secretary for international affairs at the U.S. Treasury Department
United States Department of the Treasury
The Department of the Treasury is an executive department and the treasury of the United States federal government. It was established by an Act of Congress in 1789 to manage government revenue...
, Edwin (Ted) Truman. John Williamson
John Williamson (economist)
John Williamson, born 1937, is an economist and coined the term Washington Consensus. He is a critic of capital liberalization and the bipolar Exchange rate....
, who coined the term "Washington Consensus
Washington Consensus
The term Washington Consensus was coined in 1989 by the economist John Williamson to describe a set of ten relatively specific economic policy prescriptions that he considered constituted the "standard" reform package promoted for crisis-wracked developing countries...
" is also a current resident senior fellow.
Senior Fellows and Scholars
The following is a list of current senior fellows at the Peterson Institute:- C. Fred BergstenC. Fred BergstenC. Fred Bergsten is an American economist, author, and political adviser. He has served as Assistant Secretary for International Affairs at the U.S. Treasury Department and has been director of the Peterson Institute for International Economics, formerly the Institute for International Economics,...
(Director) - Marcus Noland (Deputy Director)
- Anders ÅslundAnders ÅslundAnders Åslund is a Swedish economist with a particular interest in economic transition from centrally planned to market economies. Åslund served as an economic adviser to the governments of Russia and Ukraine and from 2003 was director of the Russian and Eurasian Program at the Carnegie...
- William R. ClineWilliam R. ClineWilliam R Cline is an American economist. He graduated from Princeton University in 1963 and received a PhD in 1969 from Yale.Cline was deputy director of development and trade research at the office of the assistant secretary for international affairs at the United States Department of the...
- Kimberly Elliott
- Morris Goldstein
- Gary Clyde Hufbauer
- Simon JohnsonSimon Johnson (economist)Simon Johnson is a British American economist. He is the 'Ronald A. Kurtz Professor of Entrepreneurship at the MIT Sloan School of Management and a senior fellow at the Peterson Institute for International Economics. He has held a wide variety of academic and policy-related positions, including...
- Nicholas R. Lardy
- Robert Z. LawrenceRobert Z. LawrenceRobert Zachary Lawrence , a former South African national, is the current Albert L. Williams Professor of International Trade and Investment at John F. Kennedy School of Government at Harvard University. He is also a Senior Fellow at the Peterson Institute for International Economics, and a...
- Catherine L. Mann
- Michael Mussa
- Adam S. Posen
- Carmen ReinhartCarmen Reinhart-External links:*...
- Jeffrey J. Schott
- Arvind Subramanian
- Edwin M. TrumanEdwin M. TrumanEdwin M. Truman is an American economist specializing in international financial institutions, especially the International Monetary Fund and sovereign wealth funds. He has been a Senior Fellow with the Peterson Institute for International Economics since 2001. Truman has worked quietly over...
- John WilliamsonJohn Williamson (economist)John Williamson, born 1937, is an economist and coined the term Washington Consensus. He is a critic of capital liberalization and the bipolar Exchange rate....
Areas of research
- Globalization - Globalization and Environment, Globalization and Labor Issues and Impact, Migration, Politics of Globalization.
- International Finance/Macroeconomics - Exchange Rate Regimes/Monetary Policy, Finance, Investment, and Debt, Global Financial Crises, International Monetary Fund, New Economy and Productivity, World Economy.
- International Trade and Investment - Competition Policy, Corporate Governance/Transparency, E-commerce and Technology, Economic Sanctions, Energy, Foreign Direct Investment, Intellectual Property Rights, Regional Trading Blocs, Services, Tax Policy, WTO and Other Global Institutions.
- US Economic Policy - Economic Sanctions, Foreign Aid/Technical Assistance. Trade Disputes, Trade Promotion Authority, US Monetary/Fiscal Policy, US Trade Policy.