Monetary Issues

What might be the fault lines in the financial world that could precipitate another crisis, and possible realignments, in the global monetary order?

After the election of Donald Trump to the presidency, there were wide expectations that the market would respond negatively to his unexpected victory. And yet stock...

The populist forces that have emerged throughout the continent challenge the legitimacy of the euro and threaten both the institutional and ideational foundations...

For reasons of both long-term sustainability and short-term politics, the euro is not out of the woods yet.

The recent history of how the Japanese yen tried and failed to become the dominant international currency provides a good illustration of the challenges faced by...

China's interest in the IMF's Special Drawing Right says more about the country's national identity than about Beijing's interest in challenging the dollar-led...

Decades of appeals to technocratic exceptionalism—the idea that monetary policy should be shielded from democratic oversight—have led to the very politicization of...

As the Republican tax bill lurches toward enactment, many of its major features remain in flux.

A fiscal union for the eurozone is the only way to save the common currency—and the EU.

Modi's demonetization policy has proved to be one of the most disruptive experiments in recent economic history, and one from which his administration now risks...

A tax plan that U.S. President Donald Trump produced in April suggested the biggest tax cuts for rich Americans in the United States’ history—and was bad news for...

Europeans do not back the euro simply because they fear the alternatives, but because the status quo offers them real rewards.

Sooner or later, the United States will face another major financial crisis. Yet the tools policymakers have for responding are even weaker than they were before...

World financial markets have had an unusual reaction to the unexpected U.S. presidential election victory of Donald Trump: they remained relatively calm and, some...

The Brexit vote and Donald Trump's election suggest that the world may be entering a period of deglobalization. History suggests that is worth worrying about: when...

When a Democratic presidential term came to an end benchmark interest rates were always higher than they were at its beginning. When a Republican was in office,...

What Puerto Rico really needs is not a PROMESA but a growth strategy.