Föhrenbergkreis Finanzwirtschaft

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Posts Tagged ‘Mody’

The myth of Franco-German friendship

Posted by hkarner - 29. April 2018

Visiting Professor in International Economic Policy at the Woodrow Wilson School, Princeton University. Author of EuroTragedy: A Drama in Nine Acts

Ashoka Mody 25 April 2018

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Europe after Merkel

Posted by hkarner - 13. Oktober 2016

Photo of Ashoka Mody

Ashoka Mody

Ashoka Mody is Visiting Professor of International Economic Policy at the Woodrow Wilson School of Public and International Affairs at Princeton University. He is a former mission chief for Germany and Ireland at the International Monetary Fund.

OCT 13, 2016 Project Syndicate

PRINCETON – Next year, Germany will hold a federal election, and the new Bundestag will choose the country’s next chancellor. Whether or not Angela Merkel retains the role – at the moment, things are not looking good for her or her Christian Democratic Union (CDU) – one thing is certain: Germany’s chancellor will no longer be de facto Chancellor of Europe. That will profoundly change how Europe works – some of it for the better. But the disruption could be nasty.

It was not inevitable that a German chancellor would assert so much authority over the European Union. It was former Chancellor Helmut Kohl who made it so. After overseeing German unification in 1989-1990, he began to pursue what he viewed as his historical task of unifying Europe as well. Kohl led Europe, from agreement on the Maastricht Treaty in 1991 to critical decisions about the shape of the euro in 1998.

The concept of a common European currency could have died many times during those years. Kohl’s close associate Wolfgang Schäuble, who is now Germany’s finance minister, asserted in 1994 that only five countries – not including Italy – were ready to adopt the single currency. But Kohl pushed on, insisting that Italy be included. Den Rest des Beitrags lesen »

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The ECB and the Fed: A comparative narrative

Posted by hkarner - 20. Januar 2016

Dae Woong Kang, Nick Ligthart, Ashoka Mody 19 January 2016, voxeu

Undergraduate student and researcher in the Woodrow Wilson School of Public and International Affairs, Princeton University

Graduate student, College of Europe

Ashoka Mody

Visiting Professor in International Economic Policy at the Woodrow Wilson School, Princeton University

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Another Slow Year for the Global Economy

Posted by hkarner - 5. Januar 2016

Photo of Ashoka Mody

Ashoka Mody

Ashoka Mody is Visiting Professor of International Economic Policy at the Woodrow Wilson School of Public and International Affairs at Princeton University and a visiting fellow at Bruegel, the Brussels-based economic think tank. He is a former mission chief for Germany and Ireland at the International Monetary Fund.

JAN 4, 2016, Project Syndicate

WASHINGTON, DC – Last April, the International Monetary Fund projected that the world economy would grow by 3.5% in 2015. In the ensuing months, that forecast was steadily whittled down, reaching 3.1% in October. But the IMF continues to insist – as it has, with almost banal predictability, for the last seven years – that next year will be better. But it is almost certainly wrong yet again.

For starters, world trade is growing at an anemic annual rate of 2%, compared to 8% from 2003 to 2007. Whereas trade growth during those heady years far exceeded that of world GDP, which averaged 4.5%, lately, trade and GDP growth rates have been about the same. Even if GDP growth outstrips growth in trade this year, it will likely amount to no more than 2.7%. Den Rest des Beitrags lesen »

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Still vulnerable: The Eurozone’s small and medium-sized banks

Posted by hkarner - 14. August 2015

Ashoka Mody, Guntram Wolff 13 August 2015, voxeu

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US-Ökonomen fordern den Austritt Deutschlands aus dem Euro

Posted by hkarner - 19. Juli 2015

Deutsche Wirtschafts Nachrichten  |  |

Prominente US-Ökonomen sehen im Austritt Deutschlands die einzige Chance für die nachhaltige Lösung der Euro-Krise. Sie glauben, dass die Rückkehr zu D-Mark Deutschland und der Rest-Eurozone nützen würde. Mit Ben Bernanke hat sich auch der frühere Chef der US-Notenbank in diese Richtung geäußert. Die letzten Tabus in der Euro-Debatte fallen.

Die D-Mark beflügelt wegen der Euro-Krise die Fantasie von Ökonomen. (Foto: DWN)

Führende US-Ökonomen sehen nicht Griechenland, sondern Deutschland als das größte Problem der Euro-Zone. So vertritt der Princeton-Ökonom Ashoka Mody die Auffassung, dass Deutschland der Euro-Zone schade, weil es sich weigere, „die Rolle eines Hegemons“ in Europa zu spielen. Deutschland habe vom Euro am meisten profitiert und schaffe wegen seiner wirtschaftlichen Stärke ein Ungleichgewicht. Den Rest des Beitrags lesen »

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A programme for Greece: Follow the IMF’s research

Posted by hkarner - 22. Juni 2015

Ashoka Mody 18 June 2015, voxeu

Ashoka Mody

Visiting Professor in International Economic Policy at the Woodrow Wilson School, Princeton University

Some expected that the Greek government would have ‘blinked’ by now. Others believe that by not conceding, the Greeks have bungled the discussions with creditors. And yet others think that the Greeks may turn out to be the better negotiators after all. But the drama of the never-ending exchange is obscuring the principles.

A medical analogy, often used to describe international financial rescues, is useful to frame the issues. When a patient comes into an emergency trauma room, the doctor on the floor typically does not refuse to treat him because the patient has lived an unhealthy life. Nor does the doctor ask him to first run around the block a few times – as proof of good faith – before stemming his blood flow. And certainly no doctor will first increase the haemorrhaging as a warning before treating the patient. Den Rest des Beitrags lesen »

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