France's Landau on how to deal with global imbalances
Jean-Pierre Landau, the second deputy governor of the Banque de France, discussed the role of a new international financial architecture to tackle global imbalances, at a seminar held by the Bank of Korea in early June.
Landau said global imbalances now reflect a mix of different national preferences and inflexions caused by public interventions. "One important focus in the policy debate should be to disentangle those two types of structural causes, and eliminate pure policy-induced distortions
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