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	Plaza Accord - Wikipedia, the free encyclopedia
		The Plaza Accord was an agreement signed on September 22, 1985 by the then G5 nations (France, West Germany, Japan, the United States and the United Kingdom).
		The Plaza Accord was successful in reducing the US trade deficit with Western European nations but largely failed to fulfill its primary objective of alleviating the trade deficit with Japan due to the fact that this deficit was due to structural rather than monetary conditions.
		The Plaza Accord was signed in the Plaza Hotel, in the city of New York.
	en.wikipedia.org /wiki/Plaza_Accord (447 words)

	Plaza Accord Summary
		The Plaza Accord was the result of several rounds of secret negotiations among the G-5 earlier in 1985.
		Thus, while the Plaza Accord marked an important milestone in G-5 cooperation, it did not improve the U.S. trade balance.
		The Louvre Accord was signed in 1987 to halt the continuing decline of the US Dollar.
	www.bookrags.com /Plaza_Accord (814 words)

	Plaza Accord (Site not responding. Last check: 2007-10-24)
		The dollar was already drifting lower before the Plaza Accord, but central bank intervention-buying yen and marks and selling dollars-led to a further...
		The Plaza Accord was an agrrement signed on September 22, 1985 to make the Japanese yen cheaper.
		It was signed in the Plaza Hotel, in the city of New York.
	publicliterature.org /en/wikipedia/p/pl/plaza_accord.html (97 words)

	The Plaza agreement, official foreign exchange intervention and exchange rate policy in Japan, 1985--2002: An analysis ... (Site not responding. Last check: 2007-10-24)
		For the short-term effect of the Plaza Accord, the impact of the Bank of Japan foreign exchange intervention policy behavior is measured by an estimated intervention reaction function model over the 1985-1991 period.
		At the Plaza Accord there was a coordinated round of discount rate cuts among Japan, Germany and the U.S., to slow upward pressure on the mark and the yen.
		For the long-term effect of the Plaza Accord, the impact of yen-dollar fluctuations is measured by a vector autoregressive model (VAR) over the 1985-2002 period.
	epublish.utdallas.edu /dissertations/AAI3138689 (571 words)

	The crisis of capitalism
		Consequently, Washington under the Clinton administration engineered the "reverse Plaza Accord" in the mid-1990s, when the value of the dollar was allowed to rise relative to the yen in an effort to help spark an export-led recovery in Japan.
		Just as the Plaza Accord had essentially been a rescue operation of U.S. industry by Japan and Germany, so was the Clinton-Rubin reversal of the rising dollar a U.S.-engineered "bailout of Japan's crisis-bound manufacturing sector".
		But even as it failed to reactivate the Japanese economy, the reverse Plaza Accord played a key role in undermining the competitiveness of the northeast Asian and southeast Asian economies whose currencies were tied to the rising dollar.
	www.flonnet.com /fl1922/stories/20021108001507400.htm (2255 words)

	SVB Asset Management - Investment Strategy Outlook
		The Plaza Accord succeeded in most aspects, but failed to correct the trade deficit with Japan, which was structural for the most part and not currency-related.
		The success of the Plaza Accord and subsequent failures by the BOJ and BOE might explain why intervention is less successful and less used.
		According to data from the St. Louis Fed, the 1978 law sparked a statistically significant increase in filings to a 7.6 percent annual rate, well ahead of growth in population and GDP.
	www.svb.com /media/iso/iso020606.html (2877 words)

	Plaza Accord and the Devaluation of the US Dollar
		After the regulatory mechanisms- such as the gold standard, the Bretton Woods Accord and the Smithsonian Agreement - were no longer in place, the currency market was left with only the forces of supply and demand to guide it.
		These conditions led to the Plaza Accord, where on September 22nd 1985, finance ministers and central bank governors from the then G-5 nations- the United States, Japan, West Germany, France and the UK- gathered at the Plaza hotel in New York.
		The Louvre Accord was signed in 1987 to halt the continued decline of the US Dollar and stabilize the currency.
	www.traderslog.com /plaza-accord.htm (568 words)

	Plaza Accord (Site not responding. Last check: 2007-10-24)
		The Plaza Accord was an agreement signed on September 22, 1985 by the then G-5 nations (France, West Germany, Japan, the United States and the United Kingdom).
		The Plaza Accord was successful in reducing the US trade deficit and making US manufactured goods more competitive in the exports market.
		The Louvre Accord was signed in 1987 to stop the continued decline of the US Dollar.
	plaza-accord.iqnaut.net (294 words)

	The Japan Paradox: A Booming and Unfit System
		The investment is designed to reposition the entire economy in response to new international competitive conditions that the Plaza accord imposed in September 1985 by sharply increasing the value of the yen against the dollar and most other major trading currencies.
		The Plaza accord was essentially a decision to throw the Japanese export machine out of gear by lowering the cost of imports and raising the cost of exports.
		The capital investment boom of the 1980s was made possible by an even bigger injection of liquidity into the economy when, in response to the Plaza accord, policymakers moved to set in place the macroeconomic and financial conditions that transformed Japan's equity market into a money pump.
	www.iht.com /articles/1991/08/09/ken_.php (1285 words)

	The Role of a Central Bank in a Bubble Economy - Part II
		The origin of the bubble economy can be traced to the G-5 Plaza Accord of September, 1985, an agreement designed, among other things, to coordinate economic policy in the major industrialized nations and to counteract protectionist forces.
		In the end, the Plaza process resulted in a decision to decrease Japanese rates, largely because the other G-5 countries were anxious to lower their own rates, and also because the BOJ wanted to counteract the downturn in the Japanese economy that followed the yen's appreciation against the dollar.
		Between 1987 and 1989, the BOJ conducted a lenient monetary policy, partly to comply with its promises in the Plaza and Louvre agreements, partly to offset the deflationary impact of a rising yen (the yen rose against the dollar from 251 at year-end 1984 to 122 at year-end 1987).
	www.gold-eagle.com /editorials/cscb002.html (1859 words)

	www.mineweb.net \| sections \| gold & silver Gold-oil link all but dead in 2004 (Site not responding. Last check: 2007-10-24)
		Plaza was a signal event for the market.
		Coincident with the Louvre Accord process, the ratio’s old usefulness as a price predictor was more or less undone.
		It is worth noting that the ratio went into a period of literal dormancy by its long-run standards; lasting until September 1998.
	www.mineweb.net /sections/gold_silver/oilgold.htm (801 words)

	Meltdown Blowback The Costs and Consequences of American Empire
		The Plaza Accord was intended to ameliorate the United States' huge trade deficits with Japan, but altering exchange rates affects only prices, and price competitiveness and price advantages were not the cause of the deficits.
		The accord was, as a result, the root cause of the major catastrophes that befell East Asia's economies over the succeeding fifteen years.
		However, in the wake of the Plaza Accord, many newly developing Southeast Asian economies had by then "pegged" their currencies to the low dollar, establishing official rates at which businesses and countries around the world could exchange Southeast Asian currencies for dollars.
	www.thirdworldtraveler.com /Blowback_CJohnson/Meltdown_BCJ.html (4909 words)

	Mark Brenner's Personal Website: Back to the Future? Not Likely
		In today's New York Times Eduardo Porter speculates as to whether we might be on the verge of another "Plaza Accord", referencing the 1985 meeting of the G-5 in in the Plaza Hotel in New York, where they agreed to intervene in the currency markets to help bring down the value of the dollar.
		Reagan's strategy was built at the Plaza, where finance ministers and heads of central banks of the United States, Japan, West Germany, Britain and France agreed to intervene in currency markets - furiously buying yen and marks - to reduce the value of the dollar.
		He was at the Plaza on Sept. 22, 1985, waiting to hear news of the negotiations.
	wwwx.oit.umass.edu /~brenner/weblog/archives/000048.html (2659 words)

	Commentary: Reservations for the Plaza - Business Asia by Bloomberg - International Herald Tribune
		Yet the Plaza Accord of 1985 deserves a prominent mention.
		The Plaza Accord, struck at New York's Plaza Hotel, started a trend that took the yen all the way to about ¥80 against the dollar by 1995.
		Jen says that according to measures of fair value, the yen was roughly 20 percent undervalued in the early 1980s.
	www.iht.com /articles/2005/07/10/bloomberg/sxpesek.php (827 words)

	Asian Development Bank economist urges big exchange rate deal \| Gold Anti-Trust Action Committee
		An international agreement along the lines of the 1985 Plaza Accord "on a bigger scale" is needed to unwind the imbalances that have resulted in the U.S. current account deficit swelling to a record $805 billion and surpluses in China, the rest of Asia, and Europe, Ali said in an interview in Tokyo.
		A trade accord dismantling barriers to international commerce is also important, he said.
		The 1985 Plaza Accord precipitated an appreciation in the yen that eventually led to an asset bubble in Japan that burst in the early 1990s, leading to a 15-year period of lackluster growth during which the world's second-largest economy had three recessions.
	gata.org /node/4428 (478 words)

	RGE - Plaza, or Louvre?
		The 1985 Plaza accord sought to drive the dollar down; the 1987 Louvre sought to keep the dollar from falling further.
		No shock, I agree with Steve Roach: there is a strong case for policy coordination, but, as of yet, no appetite on the part of the major economic blocks to adjust their macroeconomic policies (US: fiscal policy, Europe: monetary policy, Asia: exchange rate policy) to support real global rebalancing.
		The Japanese monetary loosening after the Plaza Accord, was to make sure any loss of export demand as the Yen strengthened was countered by domestic demand.
	www.rgemonitor.com /blog/setser/91285 (8306 words)

	Asia Times - Asia's most knowledgable news source
		In an article in the Financial Times, financial analyst Peter Bernstein says it is time for another Plaza Accord.
		Protectionist pressures are developing within the US, which - to borrow the Plaza Accord's words - "if not resisted, could lead to mutually destructive retaliation with serious damage to the world economy".
		Another Plaza Accord is the best available alternative, according to Bernstein and many others.
	www.atimes.com /atimes/Global_Economy/FK25Dj02.html (1798 words)

	World is squandering chance for reform with record growth \| Business \| The Australian
		IT is not just the Australian economy that is enjoying an unprecedented run of growth, but, according to International Monetary Fund managing director Rodrigo de Rato, the world economy at large is delivering the best growth seen in two generations.
		Negotiated in 1985 between the then G5 nations comprising the US, Germany, Britain, France and Japan, the Plaza Accord resulted in the devaluation of the US dollar in order to narrow the American deficit and revive the stagnant US economy.
		But US Treasury deputy secretary Robert Kimmitt - a Treasury veteran from the days when the Plaza Accord was negotiated under James Baker - gave the impression that he was looking for more from the IMF than the building of trust.
	www.theaustralian.news.com.au /story/0,20867,20785862-643,00.html (983 words)

	SacTicket // Movie News
		A controversial deal has been reached to improve the movie theater at the Downtown Plaza shopping mall and to increase the number of screens from seven to 16, part of an overall effort to redevelop the struggling mall.
		Century Theaters and Westfield Corp. Inc., owner of the Plaza, said in a written statement Tuesday that the long-awaited agreement to overhaul the theater complex had been reached, with an expected opening in late 2007.
		City leaders and business officials believed placing the theater at that location would bring much-needed foot traffic to blighted, western portions of the K Street Mall, but in the end said better uses could be made with the $5 million.
	www.sacticket.com /static/movies/news/0406downtown.html (758 words)

	A Second Plaza Accord? - Social and Economic Policy - Global Policy Forum
		One side effect of this tinkering was to drive down inflation in the then-European Economic Community (now the EU) from 5.9 percent a year in the three years prior to the Plaza Accords to just 2.8 percent.
		Germany and Japan ran a real risk of deflation in the process, as their average annual rates of household inflation slowed to just 0.4 percent and 0.6 percent, respectively, in 1986-88.
		The U.S. is feeling tough and aggressive; the economy is out of kilter; unemployment is high and rising; the budget has more red ink than a paint factory; and a single Asian nation is being set up to take the blame.
	www.globalpolicy.org /socecon/crisis/2003/09plazaaccord.htm (1056 words)

	The Jakarta Post - The Journal of Indonesia Today
		Following the Plaza Accord of September 1985, the yen appreciated dramatically against the US dollar.
		An even stronger wave of intra-Asian investment and trade was unleashed as a result of the currency realignments that followed the Plaza Accord.
		In East Asia, according to METI's White Paper on International Economy and Trade 2005, Japanese FDI rapidly increased and the cumulative figure of fiscal years 1998-2003 reached 17,085 million yen.
	www.thejakartapost.com /yesterdaydetail.asp?fileid=20060511.E03 (922 words)

	A Game of Chicken -- Monday, Jan. 26, 1987 -- Page 2 -- TIME
		In September 1985 the so-called Plaza Accord on exchange rates was hammered out between Treasury Secretary James Baker, architect of the agreement, and the finance ministers of Japan, West Germany, France and Britain.
		The U.S. experience since the Plaza Accord, however, indicates that the trade problem is much thornier than that.
		Moreover, even while the international purchasing power of the dollar has declined since the Plaza Accord, the price of imported goods in the U.S. has often failed to rise by an equivalent amount (see chart).
	www.time.com /time/magazine/article/0,9171,963296-2,00.html (603 words)

	“BOOM AND THE BUBBLE” CAPTURES DYNAMICS OF GLOBAL ECONOMIC CRISIS
		The effect was, however, two-edged, for even as US manufacturing regained profitability, it was also threatened by the prolonged recession that settled over Japan and Germany, which degraded the capacity of these economies to absorb US exports, which had served as a key engine of the US manufacturing recovery.
		And a great part of the reason was that the global over-capacity problem had become even more acute owing to the Japanese conglomerates’ moving a great many of their labor-intensive manufacturing operations to China and East Asia, precisely to escape being rendered non-competitive by the rising yen.
		With manufacturing and the rest of the “real economy” ceasing to absorb investment profitably, capital migrated to the speculative sector, where a period of hyperactive growth in high technology stocks was carefully nursed by the low-interest-rate policy and “New Economy” talk of Fed Chairman Alan Greenspan.
	www.focusweb.org /publications/2002/boom-and-the-bubble.htm (2133 words)

	[No title]
		Describe the Plaza Accord of 1985 and the Louvre Accord of 1987.
		The strong dollar was also not good for foreign countries because it hindered their attempts to reduce inflation rates.
		Then, show on the graph the results of the decision made at the Plaza Accord in 1985.
	daphne.palomar.edu /llee/101Chapter27.doc (8145 words)

	plaza accord - OneLook Dictionary Search
		Plaza Accord : AMEX Dictionary of Financial Risk Management [home, info]
		Plaza Accord : Deardorff's Glossary of International Economics [home, info]
		Plaza Accord : Glossary of Trade and Shipping Terms [home, info]
	www.onelook.com /?w=plaza+accord (120 words)

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