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International Economics

Lessons from the Plaza Accord after Thirty Years

Russell A. Green

Lessons from the Plaza Accord after Thirty Years.

In September 1985, emissaries of the world’s five leading industrial nations secretly gathered at The Plaza Hotel in New York City in an unprecedented effort to correct the largest set of current account and exchange rate imbalances that had ever threatened the world economy. The resulting agreement became known as the Plaza Accord. 

In "International Monetary Cooperation: Lessons from the Plaza Accord After Thirty Years" — edited by Russell A. Green and C. Fred Bergsten —  leading policymakers and economists evaluate the Accord’s legacy and how its collaborative spirit can be applied today. This collection of papers grew from the 2015 Baker Institute event, “Currency Policy Then and Now: 30th Anniversary of the Plaza Accord.”