Ashoka Mody is Visiting Professor of International Economic Policy at the Woodrow Wilson School of Public and International Affairs at Princeton University and a visiting fellow at Bruegel, the Brussels-based economic think tank. He is a former mission chief for Germany and Ireland at the International Monetary Fund.
Despite having whittled down its global growth projections repeatedly over the last year, the IMF continues to insist – as it has, with almost banal predictability, for the last seven years – that nex… read more
The UK, whose new majority Conservative government has pledged to hold a referendum on EU membership by the end of 2017, is at the vanguard of Europe’s institutional atrophy. Even if the UK stays, it … read more
President Barack Obama’s recent call to ease the austerity imposed on Greece is remarkable – and not only for his endorsement of the newly elected Greek government’s stance in the face of its creditor… read more
On October 14, the European Court of Justice convened to begin assessing the German Constitutional Court’s ruling that the European Central Bank's “outright monetary transactions” scheme is illegal. T… read more
In the movie "Groundhog Day," a TV weatherman awakes every morning at 6:00 to relive the same day. A similar sense of déjà vu has pervaded economic forecasting since the global economic crisis erupted a half-… read more
By apologizing for its criticism of Britain's dogged pursuit of fiscal austerity, the IMF has compromised on an economic principle that enjoys overwhelming academic support: The confidence “fairy” doe… read more
German Finance Minister Wolfgang Schäuble recently called for EU treaty changes to create a European budget commissioner, among other things. But, while Schäuble’s strategy may sound appealing, it wil… read more
The German Constitutional Court’s recent decision to refer the complaint against the ECB’s so-called “outright monetary transactions” to the European Court of Justice leaves the program’s fate uncerta… read more
The GDP numbers for the third quarter of 2013 are in, and it looks like the world economy will end the year with a whimper. Indeed, the global economy remains stuck in low gear, because the fiscal-pol… read more
Since the start of the Great Recession in mid-2007, the IMF’s actions have mostly served the interests of its major shareholders. When finance ministers and central bank governors meet in Washington, … read more
