Berkeley Economics and Political Science Prof. Barry Eichengreen: China’s Exchange-Rate Trap
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 done a poor job communicating More...
Berkeley Economics and Political Science Prof. Barry Eichengreen: Reforming or Deforming the Fed?
BERKELEY – The silly season that is a presidential election campaign in the United States has taken a particularly absurd turn as the candidates offer their proposals for monetary-policy reform. This is not More...
Berkeley Economics and Political Science Prof. Barry Eichengreen: Is US Monetary Policy Made in China?
For much of the year, investors have been fixated on when the Fed will achieve “liftoff” – that is, when it will raise interest rates by 25 basis points, or 0.25%, as a first step toward normalizing More...
Berkeley Economics and Political Science Prof. Barry Eichengreen and Domenico Lombardi: Europe’s Poisoned Chalice of Growth
After a double-dip recession and an extended period of stagnation, the eurozone is finally seeing green shoots of recovery. Consumer confidence is rising. Retail sales and new car registrations are up. The More...
Berkeley Economics and Political Science Prof. Barry Eichengreen: The Fed Under Fire
The Federal Reserve is under attack. Bills subjecting the United States’ central bank to “auditing” by the Government Accountability Office are likely to be passed by both houses of Congress. Legislation More...
Central Banks and the Bottom Line
/By Barry Eichengreen and Beatrice Weder di Mauro/ MUNICH – Around the world, central banks’ balance sheets are becoming an increasingly serious concern – most notably for monetary policymakers themselves. More...
Berkeley Economics and Political Science Prof. Barry Eichengreen: Don’t Bet on a Stronger Dollar
Economic pundits, almost without exception, are predicting a stronger dollar in 2015 – an expectation that is leading investors to place some very large bets. But that market strategy could turn out to More...
Berkeley Economics and Political Science Prof. Barry Eichengreen: Putting Deflation First
– The European Central Bank is moving, hesitantly but ineluctably, toward quantitative easing. The threat of deflation – and the ineffectiveness of its previous measures – leaves it no choice. More...
Berkeley Economics and Political Science Prof. Barry Eichengreen and Domenico Lombardi: Ukraine’s Debt Dilemma
– Insecurity is haunting Ukraine – and not just geopolitical insecurity, but economic insecurity as well. Output is in freefall. The country’s external deficit is exploding, and borrowing costs More...
Berkeley Economics and Political Science Prof. Barry Eichengreen: The Evolution of Devolution
– The Scots have spoken. A solid majority voted against independence in their historic referendum last month. But the debate left no question that an even larger majority favors the further devolution More...