Hardly any economist would have disagreed if Peter Navarro, new chief trade adviser to President Trump, had just restated the standard textbook wisdom: that a common currency cannot fit well the diverging needs of economies that are hit by asymmetric shocks. But Mr. Navarro’s statement was significantly more original, claiming that Germany is using a …Read More

As Germany assumes the Presidency of the G20 largest world economies, a new U.S. president takes office, and uncertainties surround the future of the global economic order, the American Institute for Contemporary German Studies at Johns Hopkins University is launching a new Geoeconomics Project in 2017. Peter S. Rashish, who counts over 25 years of …Read More

In a recent speech delivered at the World Affairs Council and American Council on Germany in San Francisco, Dr. Andreas Dombret, Member of the Executive Board of the Deutsche Bundesbank, assessed the current market environment after Brexit, noting that while financial markets are not in panic, investments are looking for guidance in a period of …Read More

The year 2016 has been characterized by growing uncertainty about the strength of the global economy: uncertainty about the ability of emerging markets—and especially China—to successfully address cyclical and structural weaknesses in their economies; uncertainty about the impact of the slowdown on advanced economies, namely the United States and Europe; and uncertainty about the impact …Read More

Trudeaumania 2.0—the sense of hope and optimism once again coming from a young, liberal prime minister north of the border—has so far found greatest resonance in concrete steps like an openness to refugees, a gender-balanced cabinet, and climate change activism. The new Canadian government’s decision to increase government spending by nearly $100 billion over six …Read More

German finance minister Wolfgang Schäuble was forced by Jens Weidmann,  president of the powerful Bundesbank, to publicly state that he fully respects the independence of the European Central Bank (ECB) and its decisions, thus ending a week of controversy about the unconventional monetary policies of the ECB. Schäuble had previously stepped up his criticism of …Read More

In this study, Jörg Bibow, Professor of Economics at Skidmore College, assesses the ECB’s crisis management performance and potential for crisis resolution. Part of AICGS’ focus on analysis of the euro crisis, the study investigates the institutional and functional constraints that delineate the ECB’s scope for policy action under crisis conditions and how the ECB has actually used …Read More

The past few days have certainly been rich with dramatic twists and turns in the Greek drama. Nobody knows with certainty how the story will end—not the Greek politicians, the German creditors, or least of all me. However, given the amount of noise and sometimes childish excitement on all sides, it is worth the effort …Read More

As the new Greek government begins to reconcile its populist message with the harsh realities of governing, AICGS Business and Economics Director Alexander Privitera analyzes the implications for the euro. “Tsipras should have listened to the ECB president more carefully in recent weeks. Draghi made clear that given the junk status of Greek sovereign debt, …Read More

Recent developments in Europe have caused a rush of adrenaline to political leaders’ heads across the continent. The dramatic expansion of the European Central Bank’s (ECB) program of asset purchases, coupled with the landslide victory of Syriza, the anti-bailout and anti-austerity party, in the Greek elections, have once again called into question Europe’s crisis management …Read More

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