Showing papers in "Journal of International Relations in 2003"

Unilateral versus Multilateral Strategies in the U.S. Exchange Rate Policy: Focusing on the State Centered Approach

Abstract: One of the features in the U.S. exchange rate policy is that unilateral and multilateral strategies alternate. This study explains these shifts based on administration change and learning process. The key finding in this study is that a new administration is more likely to adopt a unilateral strategy by neglecting the external effects of its policy and prioritizing domestic concerns while a seasoned administration is more likely to choose a multilateral strategy by learning international demands or constraints. This finding implies that the state centered approach is useful to understand U.S. foreign policy changes.