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Peterson Institute for International Economics
The Peterson Institute for International Economics (PIIE), known until 2006 as the Institute for International Economics (IIE), is an American think tank based in Washington, D.C. It was founded by C. Fred Bergsten in 1981 and has been led by Adam S. Posen since 2013. PIIE conducts research, provides policy recommendations, and publishes books and articles on a wide range of topics related to the US economy and international economics.
According to the 2015 Global Go To Think Tank Index Report (Think Tanks and Civil Societies Program, University of Pennsylvania), PIIE ranked number 20 (of 150) in the "Top Think Tanks Worldwide" and number 13 (of 60) in the "Top Think Tanks in the United States".
PIIE's origin can be traced back to an urgent request sent to the German Marshall Fund from C. Fred Bergsten, then assistant secretary at the Treasury Department during the Carter administration, in 1980. It was initially met with some hesitation from GMF board members due to the long-term commitment and large amount of funding proposed, but with strong support and recommendation from then GMF president Frank Loy, a center "devoted to helping provide the needed thinking on international economic issues," as Bergsten wrote at the time, was founded.
During the 1970s, President Richard Nixon ended the link to the gold standard, the first oil shock occurred in 1973, and the first G5 summit convened. As a result, the new IIE sought to conduct policy-oriented research on international economic issues by bringing together experts, academics, and policymakers. The GMF committed an initial $4 million to the institute. The IIE's founding chairman was Peter G. Peterson, who had served on Nixon's Council on International Economic Policy and as Secretary of Commerce. Anthony M. Solomon (the Undersecretary of the Treasury for Monetary Affairs and President of the Federal Reserve Bank of New York) and Richard N. Cooper (a consultant to the U.S. National Security Council) also joined the IIE in the early 1980s.
Throughout the 1980s and 1990s, the IIE expanded to become one of the most internationally recognized think tanks in Washington D.C. The Ford Foundation was also a significant supporter of the IIE, having provided a major grant in 1991. In the 1990s, the IIE created a number of endowed chairs for its members: one in honor of Reginald Jones, the former CEO of General Electric, and another for Dennis Weatherstone, the former CEO of JP Morgan.
It moved from 11 Dupont Circle to its current building on Massachusetts Avenue in 2001. In 2006, a capital campaign led to the creation of a sizable endowment in order to celebrate the institute's 25th anniversary. 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. A number of major economic figures attended its conference in New York, NY: Alan Greenspan, former Federal Reserve Board Chairman; Robert Rubin, former Secretary of the Treasury; Jean-Claude Trichet, Governor of the European Central Bank, among others.
Adam S. Posen succeeded Bergsten as president on January 1, 2013. Michael A. Peterson succeeded his father Peter G. Peterson as chairman in the spring of 2018. In 2019, PIIE's annual budget was about $12–13 million. It is financially supported by foundations, private corporations, and individuals, as well as earnings from its publications and capital fund.
Senior scholars at the Peterson Institute include (as of September 2021):
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Peterson Institute for International Economics
The Peterson Institute for International Economics (PIIE), known until 2006 as the Institute for International Economics (IIE), is an American think tank based in Washington, D.C. It was founded by C. Fred Bergsten in 1981 and has been led by Adam S. Posen since 2013. PIIE conducts research, provides policy recommendations, and publishes books and articles on a wide range of topics related to the US economy and international economics.
According to the 2015 Global Go To Think Tank Index Report (Think Tanks and Civil Societies Program, University of Pennsylvania), PIIE ranked number 20 (of 150) in the "Top Think Tanks Worldwide" and number 13 (of 60) in the "Top Think Tanks in the United States".
PIIE's origin can be traced back to an urgent request sent to the German Marshall Fund from C. Fred Bergsten, then assistant secretary at the Treasury Department during the Carter administration, in 1980. It was initially met with some hesitation from GMF board members due to the long-term commitment and large amount of funding proposed, but with strong support and recommendation from then GMF president Frank Loy, a center "devoted to helping provide the needed thinking on international economic issues," as Bergsten wrote at the time, was founded.
During the 1970s, President Richard Nixon ended the link to the gold standard, the first oil shock occurred in 1973, and the first G5 summit convened. As a result, the new IIE sought to conduct policy-oriented research on international economic issues by bringing together experts, academics, and policymakers. The GMF committed an initial $4 million to the institute. The IIE's founding chairman was Peter G. Peterson, who had served on Nixon's Council on International Economic Policy and as Secretary of Commerce. Anthony M. Solomon (the Undersecretary of the Treasury for Monetary Affairs and President of the Federal Reserve Bank of New York) and Richard N. Cooper (a consultant to the U.S. National Security Council) also joined the IIE in the early 1980s.
Throughout the 1980s and 1990s, the IIE expanded to become one of the most internationally recognized think tanks in Washington D.C. The Ford Foundation was also a significant supporter of the IIE, having provided a major grant in 1991. In the 1990s, the IIE created a number of endowed chairs for its members: one in honor of Reginald Jones, the former CEO of General Electric, and another for Dennis Weatherstone, the former CEO of JP Morgan.
It moved from 11 Dupont Circle to its current building on Massachusetts Avenue in 2001. In 2006, a capital campaign led to the creation of a sizable endowment in order to celebrate the institute's 25th anniversary. 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. A number of major economic figures attended its conference in New York, NY: Alan Greenspan, former Federal Reserve Board Chairman; Robert Rubin, former Secretary of the Treasury; Jean-Claude Trichet, Governor of the European Central Bank, among others.
Adam S. Posen succeeded Bergsten as president on January 1, 2013. Michael A. Peterson succeeded his father Peter G. Peterson as chairman in the spring of 2018. In 2019, PIIE's annual budget was about $12–13 million. It is financially supported by foundations, private corporations, and individuals, as well as earnings from its publications and capital fund.
Senior scholars at the Peterson Institute include (as of September 2021):