Barry Eichengreen is Professor of Economics at the University of California, Berkeley; Pitt Professor of American History and Institutions at the University of Cambridge; and a former senior policy adviser at the International Monetary Fund. His latest book is Hall of Mirrors:The Great Depression, the Great Recession, and the Uses – and Misuses – of History.
The early returns on Brexit are in, and the data are not good, regardless of claims to the contrary by supporters of the UK’s decision in June to withdraw from the EU. And, though sterling's depreciat… read more
The IMF's Independent Evaluation Office, established after Asia's 1998 financial crisis to assess IMF policies and programs at arm's length, has issued a comprehensive critique of the Fund’s role in E… read more
Economists are all but unanimous in arguing that the macroeconomic effects of US presidential candidate Donald Trump’s trade proposals would be disastrous. But just because economists agree doesn’t me… read more
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 putting the … read more
The IMF estimates that 15% of Chinese loans to nonfinancial corporations are at risk, implying that the book value of the bad loans could be a quarter of national income. Policymakers have three optio… read more
The British campaign to leave the European Union is tapping into the same primordial sentiments as Donald Trump is in the US. Exposure to international trade and finance, which is what EU membership e… read more
With interest rates in negative territory in many parts of the world, it is clear that using monetary policy to stimulate the economy is approaching its limits. If the global economy is to be put back… read more
For months now, China’s exchange-rate policy has roiled global financial markets, because officials have done a poor job communicating their intentions. But criticizing Chinese policymakers is easier … read more
The silly season that is a US presidential election campaign has become particularly absurd as the candidates have offered their proposals for monetary-policy reform. Indeed, the radical nature of the… read more
