Barry Eichengreen News

Subscribe to enjoy similar stories.There is angst in the air about the US dollar’s once and future global role. For insight into the greenback’s prospects, pundits have looked to the British pound sterling, the dollar’s predecessor as the dominant international currency, and asked how economic stagnation, heavy debts and failed geopolitical adventures, like that in Suez in 1956, conspired to rob it of its global role.But informed observers can draw on a much longer history of international currencies—units used in cross-border transactions—stretching from the Dutch guilder of the 17th and 18th centuries back to the Florentine florin of the 14th and 15th centuries and the silver denarius of ancient Rome.In fact, it can be argued that the Roman denarius was the first true international currency.

Subscribe to enjoy similar stories. Now that US President Donald Trump has chosen Kevin Warsh as his appointee to succeed Jerome Powell as Federal Reserve chair, it is time to take Warsh’s ideas seriously, if not literally. Much of the discussion about Warsh has focused on his interest-rate recommendations, which have swung with the political wind.

RBI's) inflation targeting regime has worked well and need not be abandoned in favour of a more discretionary regime that could be risky and counterproductive, a new research paper has said. The paper titled 'Inflation Targeting In India: A Further Assessment' said the weight of food-price inflation in the CPI inflation basket should be reduced to better reflect the circumstances of Indian households. «The RBI's inflation targeting regime has worked well. Given this record, radical changes such as broadening its mandate or abandoning the target in favour of a more discretionary regime would be risky and counterproductive,» it said. The paper is authored by economists Barry Eichengreen (University of California, Berkeley) and Poonam Gupta (NCAER).

Barry Eichengreen, professor of economics at the University of California, Berkeley, is a former senior policy adviser at the International Monetary Fund. He is the author of many books, including In Defense of Public Debt

Barry Eichengreen, professor of economics at the University of California, Berkeley, is a former senior policy adviser at the International Monetary Fund. He is the author of many books, including In Defence of Public Debt

Serkan Arslanalpis Deputy Division Chief in the Balance of Payments Division of the International Monetary Fund (IMF)’s Statistics Department; Barry Eichengreen, George C. Pardee and Helen N. Pardee Professor of Economics and Political Science, University of California;Chima Simpson-Bell is an Economist in the IMF’s African Department._______

J Barry Eichengreen is professor of economics at the University of California, Berkeley, and a former senior policy adviser at the International Monetary Fund. He is the author of many books, including In Defence of Public Debt (Oxford University Press, 2021).