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| | AEI - Events |
 | | John Williamson is probably known to everybody in this room as the one who coined the phrase the Washington consensus many years ago, but he's done a whole lot more than that, focused on exchange rates for much of his career, and is currently a senior fellow at the Institute for International Economics. |
 | | One was, indeed, mentioned by John Taylor, the fact that we now have a flexible exchange rate system, and many of those discussions in the 1960's were simply civil, because they would say it's important to have an adjustment, and then there would be no adjustment instrument. |
 | | First is strengthening of economic activity in the euro zone and Japan, and as John Williamson mentioned, these countries should take a demand management policy to strengthen their economic activity in order to close the gap first between the potential GDP and the actual GDP. |
| www.aei.org /events/eventID.936,filter.economic/transcript.asp (14837 words) |
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