History
The Institute was founded by C. Fred Bergsten in 1981, in response to a proposal from the German Marshall Fund. It moved to its current award-winning building on Massachusetts Avenue in 2001.
In 2006, a capital campaign led to the creation of a sizeable endowment, strengthening the Institute's independence. Previously known as the Institute of International Economics, it changed its name that same year in recognition of Peter G. Peterson's role in the capital campaign and for his longstanding support of the Institute since the early 1980s.
In May 2012, the Institute announced that Adam S. Posen would succeed Bergsten as President, with effect on January 1, 2013.
In December 2012, the Institute released Policy Brief December 2012 where they advise to take steps against "eight of the most significant currency manipulators", this list contains Denmark which shows the Institutes lack of knowledge or poor analysis capability. As a part of the EU union but not a part of the currency EURO, The Danish National Bank has to intervene in the currency market as a part of the ERM II agreement, so the "Danish Krone" exchange rate is held within ± 2.25% of EUR - before EUR the "Danish Krone" where bound to "Deutsche Mark" in the same way known as "Fastkurspolitik"
The Institute's annual budget is about $11 million and it is financially supported by a wide range of charitable foundations, private corporations, and individuals, as well as earnings from its publications and capital fund.
Read more about this topic: Peterson Institute For International Economics
Famous quotes containing the word history:
“America is the only nation in history which, miraculously, has gone directly from barbarism to degeneration without the usual interval of civilization.”
—Attributed to Georges Clemenceau (1841–1929)
“The best history is but like the art of Rembrandt; it casts a vivid light on certain selected causes, on those which were best and greatest; it leaves all the rest in shadow and unseen.”
—Walter Bagehot (1826–1877)
“Classes struggle, some classes triumph, others are eliminated. Such is history; such is the history of civilization for thousands of years.”
—Mao Zedong (1893–1976)