J Lawrence Broz
Biographic Data
| ID | 4372256 |
|---|---|
| NAME | J Lawrence Broz |
| GIVEN NAMES | J Lawrence |
| FAMILY NAME | Broz |
| SIGNATURE | BROZ J L |
| AFFILIATIONS | University of California San Diego |
| ORCID | 0000-0002-3866-1336 |
| VERIFIED | Yes |
| TOTAL WORKS | 18 |
| TOTAL CITATIONS | 591 |
| AUTHOR COUNT | 18 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1956 |
| LATEST PUBLICATION YEAR | 2022 |
| H-INDEX | 11 |
The Domestic Political Economy of the WTO Crisis
A major contributor to the crisis at the World Trade Organization is the decline in support for multilateralism in the United States. Three key problems with the organization’s design precipitated the decline. First, incomplete rules related to trade remedies are interpreted by the organization’s Appellate Body in ways that conflict with a narrow set of sensitive US domestic priorities. Second, existing organization rules do not sufficiently acco…
Populism in Place
A populist backlash to globalization has ushered in nationalist governments and challenged core features of the Liberal International Order. Although startling in scope and urgency, the populist wave has been developing in declining regions of wealthy countries for some time. Trade, offshoring, and automation have steadily reduced the number of available jobs and the wages of industrial workers since at least the 1970s. The decline in manufacturi…
Explaining Foreign Support for China's Global Economic Leadership
We analyze the factors that increase the likelihood that other nations will follow China's global economic leadership. While our theoretical framework incorporates the conventional argument that China pulls in followers with economic benefits, we focus on grievances with the current global order that have the effect of pushing countries toward the rising new leader. We find that grievances about global financial instability are particularly impor…
International Political Economy
xi, 564 pages : 24 cm
Exchange Rates and Industry Demands for Trade Protection
The recent confrontation between China and the United States over currency policy illustrates a broader phenomenon: exchange-rate misalignments tend to spill over into trade policy. Although previous studies have shown that aggregate protectionist activity is positively related to the level of the real effective exchange rate, we explore this relationship at the industry level. Several industry-specific characteristics determine the protectionist…
The Effectiveness of Monetary Policy Anchors
Analyses of monetary policy posit that exchange-rate pegs, inflation targets, and central bank independence can help anchor private-sector inflation expectations. Yet there are few direct tests of this argument. We offer cross-national, micro-level evidence on the effectiveness of monetary anchors in controlling private-sector inflation concerns. Using firm-level data from eighty-one countries (approximately 10,000 firms), we find evidence that “…
The Political Economy of Exchange Rates
This article discusses the political economy of exchange rates, the latter being prominent features of economic life. The article begins by separating the analysis of the international monetary system from the analysis of the policy choices of national governments. This separation allows us to simplify issues in each area and eventually present them in generic political economy terms. The article also discusses how these issues are to be analyzed…
Congressional Politics of Financing the International Monetary Fund
We address the question of how international public goods are financed by analyzing voting in the U.S. Congress on legislation to increase the U.S. contribution to the International Monetary Fund (IMF). We argue that legislators are more likely to vote in favor of an increase (1) the more campaign contributions they obtain from banks that specialize in international lending, and (2) the greater the share of high-skilled "proglobalization" workers…
Congressional Politics of International Financial Rescues
Congressional Politics of International Financial Rescues
In the 1990s, the American executive organized financial rescues for Mexico and several Asian economies. These rescues were controversial in Congress, where members voted repeatedly to reduce or eliminate the executive's freedom to engage in them. I analyze these roll calls with an eye toward explaining who opposes and who supports international financial rescues. I argue that the interests of private actors (district constituencies and interest …
Paying for privilege
The Political Economy of Monetary Institutions
In recent decades, countries have experimented with a variety of monetary institutions, including alternative exchange-rate arrangements and different levels of central bank independence. Political economists have analyzed the choice of these institutions, emphasizing their role in resolving both the time-inconsistency problem and dilemmas created by an open economy. This “first-generation” work, however, suffers from a central limitation: it stu…
Political System Transparency and Monetary Commitment Regimes
Central bank independence (CBI) and fixed exchange rates are alternative monetary commitments that differ intransparency. While CBI is opaque and difficult to monitor, a commitment to a fixed exchange rate is easily observed. Political systems also vary in terms of transparency. I argue that the transparency of monetary commitments and the transparency of political systems aresubstitutes. Where political decision making is opaque (autocracies), g…
Thepoliticaleconomy Ofinternationalmonetaryrelations
The structure of international monetary relations has gained increasing prominence over the past two decades. Both national exchange rate policy and the character of the international monetary system require explanation. At the national level, the choice of exchange rate regime and the desired level of the exchange rate involve distributionally relevant tradeoffs. Interest group and partisan pressures, the structure of political institutions, and…
Origins of the Federal Reserve System
The Federal Reserve System was established in 1913 to provide the public good of domestic financial system stability. Its main purpose was to safeguard the nation from banking panics and other economically costly financial disturbances. In this article, I explain the collective action behind the Federal Reserve Act by way of the joint products (selective incentives) model. The selective inducement that motivated lobbying for the Federal Reserve w…
The International Origins of the Federal Reserve System
Journal Article The International Origins of the Federal Reserve System. By J. Lawrence Broz. (Ithaca: Cornell University Press, 1997. xvi, 269 pp. $35.00, ISBN 0-8014-3332-0.) Get access Wyatt Wells Wyatt Wells Auburn University, Montgomery, Alabama Search for other works by this author on: Oxford Academic Google Scholar Journal of American History, Volume 85, Issue 3, December 1998, Pages 1108–1109, https://doi.org/10.2307/2567302 Published: 01…
The Origins of Central Banking
This article explains (1) the origins of central banking and (2) variations in the spread and durability of central banks across nations. Early central banks helped bind governments to honor their debts and thereby furthered governments' capacities to efficiently finance military expenditures. The origins of central banking are problematic because government credit-worthiness and efficient wartime fiscal policy are public goods, subject to the fr…
Church and State In Czechoslovakia
Populism in Place
A populist backlash to globalization has ushered in nationalist governments and challenged core features of the Liberal International Order. Although startling in scope and urgency, the populist wave has been developing in declining regions of wealthy countries for some time. Trade, offshoring, and automation have steadily reduced the number of available jobs and the wages of industrial workers since at least the 1970s. The decline in manufacturi…
Political System Transparency and Monetary Commitment Regimes
Central bank independence (CBI) and fixed exchange rates are alternative monetary commitments that differ intransparency. While CBI is opaque and difficult to monitor, a commitment to a fixed exchange rate is easily observed. Political systems also vary in terms of transparency. I argue that the transparency of monetary commitments and the transparency of political systems aresubstitutes. Where political decision making is opaque (autocracies), g…
The Political Economy of Monetary Institutions
In recent decades, countries have experimented with a variety of monetary institutions, including alternative exchange-rate arrangements and different levels of central bank independence. Political economists have analyzed the choice of these institutions, emphasizing their role in resolving both the time-inconsistency problem and dilemmas created by an open economy. This “first-generation” work, however, suffers from a central limitation: it stu…
Thepoliticaleconomy Ofinternationalmonetaryrelations
The structure of international monetary relations has gained increasing prominence over the past two decades. Both national exchange rate policy and the character of the international monetary system require explanation. At the national level, the choice of exchange rate regime and the desired level of the exchange rate involve distributionally relevant tradeoffs. Interest group and partisan pressures, the structure of political institutions, and…
Congressional Politics of International Financial Rescues
In the 1990s, the American executive organized financial rescues for Mexico and several Asian economies. These rescues were controversial in Congress, where members voted repeatedly to reduce or eliminate the executive's freedom to engage in them. I analyze these roll calls with an eye toward explaining who opposes and who supports international financial rescues. I argue that the interests of private actors (district constituencies and interest …
Congressional Politics of Financing the International Monetary Fund
We address the question of how international public goods are financed by analyzing voting in the U.S. Congress on legislation to increase the U.S. contribution to the International Monetary Fund (IMF). We argue that legislators are more likely to vote in favor of an increase (1) the more campaign contributions they obtain from banks that specialize in international lending, and (2) the greater the share of high-skilled "proglobalization" workers…
Explaining Foreign Support for China's Global Economic Leadership
We analyze the factors that increase the likelihood that other nations will follow China's global economic leadership. While our theoretical framework incorporates the conventional argument that China pulls in followers with economic benefits, we focus on grievances with the current global order that have the effect of pushing countries toward the rising new leader. We find that grievances about global financial instability are particularly impor…
The Origins of Central Banking
This article explains (1) the origins of central banking and (2) variations in the spread and durability of central banks across nations. Early central banks helped bind governments to honor their debts and thereby furthered governments' capacities to efficiently finance military expenditures. The origins of central banking are problematic because government credit-worthiness and efficient wartime fiscal policy are public goods, subject to the fr…
Origins of the Federal Reserve System
The Federal Reserve System was established in 1913 to provide the public good of domestic financial system stability. Its main purpose was to safeguard the nation from banking panics and other economically costly financial disturbances. In this article, I explain the collective action behind the Federal Reserve Act by way of the joint products (selective incentives) model. The selective inducement that motivated lobbying for the Federal Reserve w…
Exchange Rates and Industry Demands for Trade Protection
The recent confrontation between China and the United States over currency policy illustrates a broader phenomenon: exchange-rate misalignments tend to spill over into trade policy. Although previous studies have shown that aggregate protectionist activity is positively related to the level of the real effective exchange rate, we explore this relationship at the industry level. Several industry-specific characteristics determine the protectionist…
Paying for privilege
The Effectiveness of Monetary Policy Anchors
Analyses of monetary policy posit that exchange-rate pegs, inflation targets, and central bank independence can help anchor private-sector inflation expectations. Yet there are few direct tests of this argument. We offer cross-national, micro-level evidence on the effectiveness of monetary anchors in controlling private-sector inflation concerns. Using firm-level data from eighty-one countries (approximately 10,000 firms), we find evidence that “…
The International Origins of the Federal Reserve System
Journal Article The International Origins of the Federal Reserve System. By J. Lawrence Broz. (Ithaca: Cornell University Press, 1997. xvi, 269 pp. $35.00, ISBN 0-8014-3332-0.) Get access Wyatt Wells Wyatt Wells Auburn University, Montgomery, Alabama Search for other works by this author on: Oxford Academic Google Scholar Journal of American History, Volume 85, Issue 3, December 1998, Pages 1108–1109, https://doi.org/10.2307/2567302 Published: 01…
Church and State In Czechoslovakia
The International Origins of the Federal Reserve System
Journal Article The International Origins of the Federal Reserve System. By J. Lawrence Broz. (Ithaca: Cornell University Press, 1997. xvi, 269 pp. $35.00, ISBN 0-8014-3332-0.) Get access Wyatt Wells Wyatt Wells Auburn University, Montgomery, Alabama Search for other works by this author on: Oxford Academic Google Scholar Journal of American History, Volume 85, Issue 3, December 1998, Pages 1108–1109, https://doi.org/10.2307/2567302 Published: 01…
The Origins of Central Banking
This article explains (1) the origins of central banking and (2) variations in the spread and durability of central banks across nations. Early central banks helped bind governments to honor their debts and thereby furthered governments' capacities to efficiently finance military expenditures. The origins of central banking are problematic because government credit-worthiness and efficient wartime fiscal policy are public goods, subject to the fr…
Origins of the Federal Reserve System
The Federal Reserve System was established in 1913 to provide the public good of domestic financial system stability. Its main purpose was to safeguard the nation from banking panics and other economically costly financial disturbances. In this article, I explain the collective action behind the Federal Reserve Act by way of the joint products (selective incentives) model. The selective inducement that motivated lobbying for the Federal Reserve w…
Thepoliticaleconomy Ofinternationalmonetaryrelations
The structure of international monetary relations has gained increasing prominence over the past two decades. Both national exchange rate policy and the character of the international monetary system require explanation. At the national level, the choice of exchange rate regime and the desired level of the exchange rate involve distributionally relevant tradeoffs. Interest group and partisan pressures, the structure of political institutions, and…
The Political Economy of Monetary Institutions
In recent decades, countries have experimented with a variety of monetary institutions, including alternative exchange-rate arrangements and different levels of central bank independence. Political economists have analyzed the choice of these institutions, emphasizing their role in resolving both the time-inconsistency problem and dilemmas created by an open economy. This “first-generation” work, however, suffers from a central limitation: it stu…
Political System Transparency and Monetary Commitment Regimes
Central bank independence (CBI) and fixed exchange rates are alternative monetary commitments that differ intransparency. While CBI is opaque and difficult to monitor, a commitment to a fixed exchange rate is easily observed. Political systems also vary in terms of transparency. I argue that the transparency of monetary commitments and the transparency of political systems aresubstitutes. Where political decision making is opaque (autocracies), g…
Paying for privilege
Congressional Politics of International Financial Rescues
Congressional Politics of International Financial Rescues
In the 1990s, the American executive organized financial rescues for Mexico and several Asian economies. These rescues were controversial in Congress, where members voted repeatedly to reduce or eliminate the executive's freedom to engage in them. I analyze these roll calls with an eye toward explaining who opposes and who supports international financial rescues. I argue that the interests of private actors (district constituencies and interest …
Congressional Politics of Financing the International Monetary Fund
We address the question of how international public goods are financed by analyzing voting in the U.S. Congress on legislation to increase the U.S. contribution to the International Monetary Fund (IMF). We argue that legislators are more likely to vote in favor of an increase (1) the more campaign contributions they obtain from banks that specialize in international lending, and (2) the greater the share of high-skilled "proglobalization" workers…
The Political Economy of Exchange Rates
This article discusses the political economy of exchange rates, the latter being prominent features of economic life. The article begins by separating the analysis of the international monetary system from the analysis of the policy choices of national governments. This separation allows us to simplify issues in each area and eventually present them in generic political economy terms. The article also discusses how these issues are to be analyzed…
The Effectiveness of Monetary Policy Anchors
Analyses of monetary policy posit that exchange-rate pegs, inflation targets, and central bank independence can help anchor private-sector inflation expectations. Yet there are few direct tests of this argument. We offer cross-national, micro-level evidence on the effectiveness of monetary anchors in controlling private-sector inflation concerns. Using firm-level data from eighty-one countries (approximately 10,000 firms), we find evidence that “…
Exchange Rates and Industry Demands for Trade Protection
The recent confrontation between China and the United States over currency policy illustrates a broader phenomenon: exchange-rate misalignments tend to spill over into trade policy. Although previous studies have shown that aggregate protectionist activity is positively related to the level of the real effective exchange rate, we explore this relationship at the industry level. Several industry-specific characteristics determine the protectionist…
International Political Economy
xi, 564 pages : 24 cm
Explaining Foreign Support for China's Global Economic Leadership
We analyze the factors that increase the likelihood that other nations will follow China's global economic leadership. While our theoretical framework incorporates the conventional argument that China pulls in followers with economic benefits, we focus on grievances with the current global order that have the effect of pushing countries toward the rising new leader. We find that grievances about global financial instability are particularly impor…
Populism in Place
A populist backlash to globalization has ushered in nationalist governments and challenged core features of the Liberal International Order. Although startling in scope and urgency, the populist wave has been developing in declining regions of wealthy countries for some time. Trade, offshoring, and automation have steadily reduced the number of available jobs and the wages of industrial workers since at least the 1970s. The decline in manufacturi…
The Domestic Political Economy of the WTO Crisis
A major contributor to the crisis at the World Trade Organization is the decline in support for multilateralism in the United States. Three key problems with the organization’s design precipitated the decline. First, incomplete rules related to trade remedies are interpreted by the organization’s Appellate Body in ways that conflict with a narrow set of sensitive US domestic priorities. Second, existing organization rules do not sufficiently acco…
Economics (15 works) · Political science (13 works) · Global Financial Crisis and Policies (11 works) · Politics (10 works) · Law (8 works) · International economics (7 works) · Law (7 works) · Political economy (7 works) · Business (6 works) · Monetary economics (6 works)