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Stefan Gerlach

Stefan Gerlach

11 commentaries

Stefan Gerlach is Chief Economist at EFG Bank in Zurich and a former deputy governor of the Central Bank of Ireland. He is also a former Executive Director and Chief Economist of the Hong Kong Monetary Authority and Secretary to the Committee on the Global Financial System at the BIS.

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  1. Crunch Time for Central Banks
    gerlach11_getty images_green finance Getty Images

    Crunch Time for Central Banks

    Sep 15, 2020 Stefan Gerlach urges monetary policymakers to respond to shifting public sentiment on inequality and the environment.

  2. Who Can Influence the ECB?
    gerlach10_Sean GallupGetty Images_ECBsignbuilding Sean Gallup/Getty Images

    Who Can Influence the ECB?

    Oct 4, 2019 Stefan Gerlach urges eurozone governments not to nominate inflexible candidates to the European Central Bank's Executive Board.

  3. It’s Time for the ECB to Put QE on Hold
    gerlach9_Ralph OrlowskiGetty Images_eurozone Ralph Orlowski/Getty Images

    It’s Time for the ECB to Put QE on Hold

    Sep 9, 2019 Stefan Gerlach argues that the eurozone does not need additional monetary stimulus for the time being.

  4. Lagarde’s ECB Checklist
    gerlach8_SAULLOEBAFPGettyImages_christinelagardeblacksuit Saul Loeb/AFP/Getty Images

    Lagarde’s ECB Checklist

    Jul 26, 2019 Stefan Gerlach lists five steps that the European Central Bank's next president should take now and on taking office in November.

  5. The ECB Needs to Explain Itself
    gerlach7_GEORGESgOBETAFPGettyImages_legarderehntalkingatconference Georges Gobet/AFP/Getty Images

    The ECB Needs to Explain Itself

    Jul 8, 2019 Stefan Gerlach calls for the European Central Bank to clarify numerous ambiguities about its monetary-policy strategy.

  1. rogoff235_Tom WilliamsCQ-Roll Call, Inc via Getty Images_chewtiktokcongress Tom Williams/CQ-Roll Call, Inc via Getty Images

    Tick TikTok Goes Globalization

    Kenneth Rogoff

    The bipartisan push to ban TikTok in the US reflects both the growing distrust of China and lawmakers’ limited understanding of the tech world. While there are legitimate national-security concerns associated with the platform, a US ban could end up accelerating deglobalization.

    thinks efforts to restrict American users’ access to the app are hypocritical and counterproductive.
  2. acemoglu58_Chris McGrathGetty Images_turkeyearthquake Chris McGrath/Getty Images

    To Reconstruct Turkey, Rebuild Its Democracy

    Daron Acemoglu & Cihat Tokgöz

    Turkey's massive death toll from the earthquakes in February attests to a much larger problem. From an overly powerful construction lobby and endemic corruption to the steady erosion of democratic institutions, it is clear that the country now needs a thorough political and economic transformation.

    think the country needs not just a new government but a broader economic and political transformation.
  3. mody28_ NOAH SEELAMAFP via Getty Images_india unemployment NOAH SEELAM/AFP via Getty Images

    India’s Boom Is a Dangerous Myth

    Ashoka Mody dismantles the hype around a rosy economic narrative that is actually becoming bleaker by the day.
  4. basu90_ContributorGetty Images_putin icc Contributor/Getty Images

    Halting the Authoritarian Drift

    Kaushik Basu considers the dynamics that lead political leaders down the road to tyranny, paranoia, and aggression.
  5. khrushcheva165_SERGEI KARPUKHINSPUTNIKAFP via Getty Images_xiputin Sergei Karpukhin/Sputnik/AFP via Getty Images

    Xi’s the Boss

    Nina L. Khrushcheva says the Chinese leader's recent visit to Moscow was intended, first and foremost, to show who is in charge.
  6. pisaniferry143_FABRICE COFFRINIAFP via Getty Images_johnkerrychina Fabrice Coffrini/AFP via Getty Images

    Can “Cooperative Rivalry” Work?

    Jean Pisani-Ferry worries that America and China will be unable to find common ground on preserving the global commons.
  7. rajan82_BRENDAN SMIALOWSKIPOOLAFP via Getty Images_jeromepowell Brendan Smialowski/Pool/AFP via Getty Images

    The Fed’s Role in the Bank Failures

    Raghuram G. Rajan & Viral V. Acharya show how the US central bank's liquidity policies created the conditions for runs on uninsured deposits.
  8. velasco135_Nancy LaneMediaNews GroupBoston Herald via Getty Images_bank run Nancy Lane/MediaNews Group/Boston Herald via Getty Images

    Policymakers Keep Solving the Wrong Banking Problem

    Andrés Velasco argues that recent market turmoil has revealed that the sector’s main vulnerability is unavoidable.
  9. ito25_Chip SomodevillaGetty Images_yellen Chip Somodevilla/Getty Images

    An Insolvency Iceberg?

    Takatoshi Ito considers the risk that other banks will experience liquidity problems as interest rates continue to rise.

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