Since 1987, teaches at UC Berkeley; 1997-98, Senior Policy Adviser, International Monetary Fund; Research Associate, National Bureau of Economic Research, Cambridge, US; Research Fellow, Centre for Economic Policy Research, London, UK. Immediate Past President, Economic History Association. Fellow, American Academy of Arts and Sciences. Convener, Bellagio Group of academics and economic officials. Author of Exorbitant Privilege: The Rise and Fall of the Dollar; European Economy since 1945; Global Imbalances and the Lessons of Bretton Woods; Exorbitant Privilege: The Rise and Fall of the Dollar; and Golden Fetters: The Gold Standard and the Great Depression. Honours and awards, incl.: Honorary doctorate, American Univ. in Paris; Jonathan R.T. Hughes Prize for Excellence in Teaching, Economic History Association; Social Science Division's Distinguished Teaching Award, UC Berkeley; Schumpeter Prize. Named one of Foreign Policy Magazine's 100 Leading Global Thinkers.
Last week, G7 finance ministers and central bank governors vowed to use “all appropriate policy tools” to contain the economic threat posed by the COVID-19 coronavirus. The question left ...
Sovereign debt is a Janus-faced asset class. In the best of times, it relaxes the domestic constraint on saving, smooths consumption, and finances investment. Investors see it as a safe h...
Having unilaterally reimposed sanctions on Iran, US President Donald Trump's administration is threatening to penalize companies doing business with the Islamic Republic by denying them a...
BERKELEY – La question la plus fréquemment posée aux économistes spécialistes des questions internationales est aujourd’hui celle-ci : « Assistons-nous au début d’une guerre commerciale ?...
Copenhagen – A sunny day is the best time to check whether the roof is watertight. For economic policymakers, the proverbial sunny day has arrived: with experts forecasting strong growth,...
While many people believe that technological progress and job destruction are accelerating dramatically, there is no evidence of either trend. In reality, total factor productivity, the b...
Le 11 novembre 1997, la Banque d'Angleterre a fait un grand pas vers l'indépendance, grâce à l’adoption, en deuxième lecture de la Chambre des communes, d'un projet de loi modifiant le Ba...
Does Donald Trump’s election as United States president mean that globalization is dead, or are reports of the process’ demise greatly exaggerated? If globalization is only partly incapac...
The early returns on Brexit are in, and contrary to what some have been claiming, they’re not good. In July, following the referendum, consumer confidence collapsed at its most rapid rate...
With interest rates at all-time lows and central banks buying everything that moves, the world is awash with credit. Yet, paradoxically, a dangerous shortage of international liquidity is...
There is widespread agreement on two facts about the Chinese economy. First, the slowdown has ended and growth is picking up. Second, not all is well financially. But there is no agreemen...
The world economy is visibly sinking, and the policymakers who are supposed to be its stewards are tying themselves in knots. Or so suggest the results of the G-20 summit held in Shanghai...
For months now, China’s exchange-rate policy has been roiling global financial markets. More precisely, confusion about that policy has been roiling the markets. Chinese officials have do...
