Peterson Institute for International Economics

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Peter G. Peterson Institute for International Economics
Founder(s) C. Fred Bergsten
Established 1981
Focus International Economics
Chairman Peter G. Peterson
Director Adam S. Posen
Staff 60
Location Washington, D.C., District of Columbia, USA
Address 1750 Massachusetts Avenue
Website www.piie.com

The Peter G. Peterson Institute for International Economics (Peterson Institute), formerly the Institute for International Economics, is a private, non-profit, and nonpartisan think tank focused on international economics, based in Washington, D.C. It was founded by C. Fred Bergsten in 1981.

The Institute has been ranked as the world's leading think tank in the area of international economics by the Think Tanks and Civil Society Program at the University of Pennsylvania.[1]

History[edit]

The Institute was founded by C. Fred Bergsten in 1981, in response to a proposal from the German Marshall Fund.[2] It moved to its current award-winning building on Massachusetts Avenue in 2001.

In 2006, a capital campaign led to the creation of a sizeable endowment, strengthening the Institute's independence. Previously known as the Institute of International Economics, it changed its name that same year in recognition of Peter G. Peterson's role in the capital campaign and for his longstanding support of the Institute since the early 1980s.

In May 2012, the Institute announced that Adam S. Posen would succeed Bergsten as President, with effect on January 1, 2013.[3]

In December 2012, the Institute released Policy Brief December 2012 where they advice The United States and allies to take steps against "eight of the most significant currency manipulators", this list controversially contains Denmark, controversially as in Denmark is an important allied of The United States U.S. Relations With Denmark and White House fact sheet, to emphasize the alliance Denmark has allowed The United States to use Thule Air Base and other Danish location for military use since second world war, The former president of The United States George W. Bush held his 59th birthday with the Queen of Denmark in her summer residence,[4] at present day Anders Fogh Rasmussen former Danish Prime Minister is Secretary General of NATO, elected in 2009 with help from U.S President Barack Obama. Furthermore as a part of the EU union but not a part of the currency EURO - Denmark and the euro, The Danish National Bank has to intervene in the currency market as a part of the ERM II agreement, so the "Danish Krone" exchange rate is held within ± 2.25% of EUR - before EUR the "Danish Krone" where bound to "Deutsche Mark" in the same way known as "Fastkurspolitik", this policy was implemented in 1982 and strictly enforced since 1986.

The Institute's annual budget is about $11 million and it is financially supported by a wide range of charitable foundations, private corporations, and individuals, as well as earnings from its publications and capital fund.

Scholars[edit]

C. Fred Bergsten, previously the assistant secretary for international affairs at the U.S. Treasury Department, has been the director of the Institute since its founding. Adam S. Posen is scheduled to succeed him on January 1, 2013.

The institute attracts some of the most influential former officials and academics as resident senior fellows. They include former assistant secretary for international affairs at the U.S. Treasury Department, Edwin (Ted) Truman. John Williamson, who coined the term "Washington Consensus" is also a current resident senior fellow.[5]

The following is a list of current fellows at the Peterson Institute:

Board of Directors[edit]

The institute chairman is Peter G. Peterson, former chairman of the Council on Foreign Relations, former United States Secretary of Commerce, and one of the founders of the Blackstone Group. Vice chairman is United Technologies Corporation Chairman, George David.

Other prominent members of the institute's board of directors include:

Areas of research[edit]

  • "Debt and Development" - Corruption and Governance, Debt Relief, Foreign Aid/Technical Assistance, Technology and Developing Countries, Transition Economies, World Bank and Regional Development Banks.
  • "Globalization" - Politics of Globalization, Globalization and Labor, Globalization and Environment, Migration, Issues and Impact.
  • "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.

The Peter G. Peterson Building[edit]

Peterson Institute for International Economics Building

In 2001 the Peterson Institute moved into a building it commissioned and built at 1750 Massachusetts Avenue ("Embassy Row"), NW, Washington, D.C. It is located across from the main Brookings Institution building, diagonally across from Carnegie Endowment for International Peace, and next to the Paul H. Nitze School of Advanced International Studies.

The building was designed by James von Klemperer from the architectural firm Kohn Pedersen Fox. Like the Institute itself it is named in honor of Peter G. Peterson, and its state-of-the-art conference center is named in honor of the Institute's founder, C. Fred Bergsten. The sculpture garden is named in honor of Institute benefactor Anthony M. Solomon. The building houses several pieces of art donated by Stephan Schmidheiny, a former director of the Institute, including a sculpture by Joan Miró and a painting by Elizabeth Murray. It also houses collections of Chinese and African art donated by William M. Keck, Ambassador John M. Yates, and Anthony M. Solomon.

The building was granted the Best Architecture for 2001 award by the Washington Business Journal and won a Best Design award from the American Institute of Architects in 2003.[6] Former U.S. Deputy Secretary of the Treasury and Under Secretary of State Stuart Eizenstat opined that the Peterson Institute building "is to international economics what the House that Ruth Built Yankee Stadium was to baseball".[7]

References[edit]

  1. ^ "2011 Global Go To Think Tank Index Rankings". University of Pennsylvania, Think Tanks and Civil Society Program. January 25, 2012. 
  2. ^ "Institute for International Economics Renamed in Honor of Founding Chairman Peter G. Peterson". PR Web. October 24, 2006. 
  3. ^ "Adam S. Posen to become new President". Peterson Institute. Retrieved May 19, 2012. 
  4. ^ New York Times: On Bush's Birthday Abroad, Lots of Cake, and Then a Spill. July 7, 2005.
  5. ^ Williamson, John. "A Short History of the Washington Consensus". Peterson Institute for International Economics. Retrieved 20 March 2012. 
  6. ^ Bergsten, C. Fred. "The Peter G. Peterson Institute for International Economics at Twenty-five". The Peter G. Peterson Institute. p. 18. Retrieved 19 March 2012. 
  7. ^ Bergsten, C. Fred. "The Peter G. Peterson Institute for International Economics at Twenty-five". The Peterson Institute. Retrieved 19 March 2012. 

External links[edit]

Coordinates: 38°54′30″N 77°02′27″W / 38.9083°N 77.0409°W / 38.9083; -77.0409