The magazine of international economic policy.

From the Fall 2014 issue

The Warren Report

Elizabeth Warren could be the big surprise of the 2016 presidential race.

By Daniel Gross

Will the Dollar Remain the Reserve Currency?

Is the rising global chorus to replace the dollar a reflection of far deeper problems in the world financial system?

Featuring commentary by noted observers William H. Overholt, William R. White, Joseph E. Gagnon, Mohamed A. El-Erian, John Williamson, Julia Leung, Jared Bernstein, Edwin M. Truman, Jörg Asmussen, Lorenzo Codogno, Stephen G. Cecchetti, Richard N. Cooper, Holger Schmieding, Barry Eichengreen, Chi Lo, Milton Ezrati, George R. Hoguet, Otmar Issing, Diana Choyleva, James E. Glassman, Andreas Dombret, Hannes Androsch, Igor Finogenov, and Helmut Schlesinger.

A symposium of views

Everybody Hates the Dollar

But there’s no alternative. The solution is to stabilize the dollar-renminbi relationship.

By Ronald McKinnon

The Monetary Stimulus Illusion

The record in China, Japan, and even the United States is one of disappointment if not failure.

By Tadashi Nakamae

The Noisy Debate

So far there is little reason for the Federal Reserve to raise interest rates.

By John M. Berry

America’s Wage Problem

Why are we surprised that fewer people want to work?

By Philip K. Verleger, Jr.

A Misguided Missile

Why did the Obama stimulus fail to lead to a significant increase in aggregate demand? Deleveraging of debt by households and lack of non-financial corporate investment.

By Jørgen Ørstrøm Møller

A New Twist on Clausewitz

For Vladimir Putin, military conflict is a way of conducting monetary policy by other means.

By K. Philippa Malmgren

The Empire Strikes Back

Why Germany's exports and current account surpluses benefit other countries.

By Ludger Schuknecht

Germany’s Coming Gerontocracy

The political dangers will be immense.

By Hans-Werner Sinn

Rotation Is Not the Problem

On the ECB governing council, size is the problem.

By Otmar Issing

Designing a Eurozone Takeoff

Removing the ballast and pushing to full throttle.

By Andreas Dombret

Time for a Global Mercantilist Index

The United States must move quickly.

By Michelle Wein

A Call for Integration

Canada offers a compelling model.

By Simon Lester

Off the News

Oil markets on the brink, Hans-Werner Sinn's The Euro Trap, and is job growth only in Texas?

From the Founder

Attitude matters.

By David M. Smick

Letter from Berlin

After the bank stress tests, ECB backroom tension lingers.