151:
353:... For a variety of reasons, including among others a desire of the Federal Reserve to curb the US stock market boom, monetary policy in several major countries turned contractionary in the late 1920s—a contraction that was transmitted worldwide by the gold standard. What was initially a mild deflationary process began to snowball when the banking and currency crises of 1931 instigated an international "scramble for gold". Sterilization of gold inflows by surplus countries , substitution of gold for
918:
357:, and runs on commercial banks all led to increases in the gold backing of money, and consequently to sharp unintended declines in national money supplies. Monetary contractions in turn were strongly associated with falling prices, output and employment. Effective international cooperation could in principle have permitted a worldwide monetary expansion despite gold standard constraints, but disputes over
25:
361:
and war debts, and the insularity and inexperience of the
Federal Reserve, among other factors, prevented this outcome. As a result, individual countries were able to escape the deflationary vortex only by unilaterally abandoning the gold standard and re-establishing domestic monetary stability, a
392:
His most cited paper is
Bayoumi and Eichengreen "Shocking Aspects of European Monetary Unification" (1993) which argued that the European Union was less suitable as a Single Currency Area than the United States. This diagnosis was confirmed in 2011 when external shocks caused the
962:
972:
957:
987:
982:
886:
766:"The Historical Perspective on the Donald Trump Puzzle: A Review of Barry Eichengreen's The Populist Temptation: Economic Grievance and Political Reaction in the Modern Era"
366:
The main evidence
Eichengreen adduces in support of this view is the fact that countries that abandoned the gold standard earlier saw their economies recover more quickly.
967:
405:
977:
294:
Eichengreen has done research and published widely on the history and current operation of the international monetary and financial system. He received his
53:
33:
947:
952:
674:
643:
322:
810:
268:
214:
272:
150:
362:
process that dragged on in a halting and uncoordinated manner until France and the other Gold Bloc countries finally left gold in 1936.
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38:
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42:
354:
868:
75:
446:
358:
864:
942:
878:
349:... he proximate cause of the world depression was a structurally flawed and poorly managed international
636:
Exorbitant
Privilege: The Rise and Fall of the Dollar and the Future of the International Monetary System
379:
Exorbitant
Privilege: The Rise and Fall of the Dollar and the Future of the International Monetary System
882:
937:
321:
in 1997 and 1998, although he has since been critical of the IMF. In 1997, he became a fellow of the
311:
279:
189:
890:
64:
901:
667:
Hall of
Mirrors: The Great Depression, The Great Recession, and the Uses-and Misuses-of History
100:
819:
785:
670:
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639:
626:
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219:
824:
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303:
806:
931:
840:
350:
299:
260:
835:
686:
The
Populist Temptation: Economic Grievance and Political Reaction in the Modern Era
383:
The
Populist Temptation: Economic Grievance and Political Reaction in the Modern Era
897:
829:
342:
742:
244:
846:
716:
553:
Toward A New
International Financial Architecture: A Practical Post-Asia Agenda.
507:
Vom
Goldstandard zum EURO. Die Geschichte des internationalen Währungssystems.
789:
267:, where he has taught since 1987. Eichengreen is a research associate at the
428:
Elusive Stability: Essays in the History of International Finance 1919–1939.
404:(2010–2011). In addition to this, he is a non-resident Senior Fellow at the
283:
963:
University of California, Berkeley College of Letters and Science faculty
906:
781:
394:
473:
Reconstructing Europe's Trade and Payments: The European Payments Union.
263:
and Helen N. Pardee Professor of Economics and Political Science at the
855:
307:
444:
Golden Fetters: The Gold Standard and the Great Depression, 1919–1939.
226:
859:
335:
Golden Fetters: The Gold Standard and the Great Depression, 1919–1939
623:
The European Economy Since 1945: Co-ordinated Capitalism and Beyond.
486:
Globalizing Capital: A History of the International Monetary System.
63:
from the article and its talk page, especially if potentially
18:
314:
in economics from Yale University in New Haven, Connecticut.
715:. Congressional Testimony. 14 September 1998. Archived from
654:
From Miracle to Maturity: The Growth of the Korean Economy
522:
European Monetary Unification: Theory, Practice, Analysis.
460:
International Monetary Arrangements for the 21st Century.
337:, Oxford University Press, 1992. In his own book on the
218:
M.A. (1976), M.Phil. (1977), M.A. (1978), Ph.D. (1979)
902:"Eichengreen on the Dollar and International Finance"
680:
How Global Currencies Work: Past, Present, and Future
973:
Fellows of the American Academy of Arts and Sciences
610:
Global Imbalances and the Lessons of Bretton Woods.
584:
Built to Last: A Political Architecture for Europe.
240:
209:
199:
185:
180:
168:
160:
141:
371:Global Imbalances and the Lessons of Bretton Woods
958:Yale Graduate School of Arts and Sciences alumni
877:, April 2013 – A guest commentary about the US
739:"Barry Eichengreen, University Of Pennsylvania"
347:
988:Presidents of the Economic History Association
983:Peterson Institute for International Economics
406:Centre for International Governance Innovation
555:Institute for International Economics, 1999,
8:
741:. Analyst Wire. 8 April 2011. Archived from
345:summarized Eichengreen's thesis as follows:
865:Barry Eichengreen in the Editorial Board of
566:Financial Crises and What to Do About Them.
542:Centre for Economic Policy Research, 1999,
534:with José De Gregorio, Takatoshi Ito &
149:
138:
56:about living persons that is unsourced or
713:"World Economic Crises:Barry Eichengreen"
669:, Oxford University Press, New York 2015
638:, Oxford University Press, New York 2010
255:(born 1952) is an American economist and
127:Learn how and when to remove this message
968:American people of German-Jewish descent
694:, Oxford University Press, New York 2021
688:, Oxford University Press, New York 2018
656:, Harvard University Asia Center. 2012,
310:in economics, an M.A. in history, and a
704:
317:He was a senior policy advisor to the
875:The Use and Abuse of Monetary History
323:American Academy of Arts and Sciences
7:
811:University of California at Berkeley
475:University of Michigan Press, 1994,
385:(Oxford University Press 2018), and
269:National Bureau of Economic Research
215:University of California, Santa Cruz
978:Institute for New Economic Thinking
919:Works by or about Barry Eichengreen
540:An Independent and Accountable IMF.
462:Brookings Institution Press, 1994,
414:since 2003. He was convener of the
377:(Princeton University Press 2007),
273:Centre for Economic Policy Research
625:Princeton University Press, 2008,
578:with Erik Berglöf, Gérard Roland,
488:Princeton University Press, 1996,
265:University of California, Berkeley
204:University of California, Berkeley
14:
948:21st-century American economists
912:Library of Economics and Liberty
389:(Oxford University Press 2021).
381:(Oxford University Press 2011),
333:His best known work is the book
23:
568:Oxford University Press, 2002,
375:The European Economy Since 1945
770:Journal of Economic Literature
16:American economist (born 1952)
1:
408:and a regular contributor to
400:He has been President of the
271:and a research fellow at the
953:American economic historians
402:Economic History Association
34:biography of a living person
319:International Monetary Fund
164:1952 (age 71–72)
61:must be removed immediately
1004:
764:Sonin, Konstantin (2022).
431:Cambridge University Press
245:eml.berkeley.edu/~eichengr
692:In Defense of Public Debt
597:Capital Flows and Crises.
387:In Defense of Public Debt
369:His recent books include
355:foreign exchange reserves
278:Eichengreen's mother was
236:
225:
176:
148:
869:Financial History Review
509:Wagenbach, Berlin 2000,
496:; 2. Auflage ebd. 2008,
253:Barry Julian Eichengreen
582:& Charles Wyplosz:
447:Oxford University Press
359:World War I reparations
231:IDEAS / RePEc
879:Federal Reserve System
364:
48:Please help by adding
885:'s monetary policies.
883:European Central Bank
753:– via Highbeam.
727:– via Highbeam.
612:The MIT Press, 2006,
599:The MIT Press, 2004,
286:survivor and author.
782:10.1257/jel.20201514
524:The MIT Press, 1997
143:Barry J. Eichengreen
54:Contentious material
280:Lucille Eichengreen
190:Political economics
155:Eichengreen in 2012
76:"Barry Eichengreen"
373:(MIT Press 2006),
257:economic historian
847:Barry Eichengreen
836:Barry Eichengreen
820:Project Syndicate
807:Barry Eichengreen
675:978-0-19-939200-1
652:and Kwanho Shin:
650:Dwight H. Perkins
644:978-0-19-975378-9
411:Project Syndicate
306:in economics, an
250:
249:
137:
136:
129:
111:
37:needs additional
995:
923:Internet Archive
915:
900:(June 6, 2011).
794:
793:
776:(3): 1029–1038.
761:
755:
754:
752:
750:
745:on 13 April 2016
735:
729:
728:
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724:
709:
418:from 2008-2020.
339:Great Depression
261:George C. Pardee
194:economic history
153:
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50:reliable sources
27:
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851:East Asia Forum
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719:on 7 March 2016
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580:Guido Tabellini
536:Charles Wyplosz
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220:Yale University
217:
210:Alma mater
181:Academic career
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825:Column archive
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816:Column archive
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801:External links
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58:poorly sourced
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898:Roberts, Russ
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481:0-472-10528-0
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455:0-19-510113-8
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439:0-521-36538-4
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351:gold standard
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300:UC Santa Cruz
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117:February 2015
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78: –
77:
73:
72:Find sources:
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35:
30:
21:
20:
905:
889:
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867:
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830:The Guardian
828:
773:
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759:
747:. Retrieved
743:the original
733:
721:. Retrieved
717:the original
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596:
586:CEPR, 2003,
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459:
443:
427:
422:Publications
409:
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368:
365:
348:
343:Ben Bernanke
334:
332:
316:
302:in 1974. an
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114:
104:
97:
90:
83:
71:
60:
43:verification
36:
938:1952 births
891:CFO Insight
856:Appearances
259:who is the
227:Information
200:Institution
169:Nationality
932:Categories
749:1 February
723:1 February
699:References
87:newspapers
790:0022-0515
284:Holocaust
39:citations
907:EconTalk
881:and the
449:, 1992,
397:Crisis.
395:Eurozone
329:Research
172:American
65:libelous
921:at the
809:at the
433:, 1990
308:M.Phil.
241:Website
101:scholar
860:C-SPAN
788:
673:
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629:
616:
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479:
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437:
290:Career
103:
96:
89:
82:
74:
648:with
312:Ph.D.
298:from
186:Field
108:JSTOR
94:books
32:This
786:ISSN
751:2015
725:2015
682:2017
671:ISBN
658:ISBN
640:ISBN
627:ISBN
614:ISBN
601:ISBN
588:ISBN
570:ISBN
557:ISBN
544:ISBN
526:ISBN
511:ISBN
498:ISBN
490:ISBN
477:ISBN
464:ISBN
451:ISBN
435:ISBN
304:M.A.
296:A.B.
282:, a
161:Born
80:news
41:for
888:at
858:on
849:at
838:at
827:at
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778:doi
229:at
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