With the German economy close to recession, European Central Bank President Mario Draghi has rightly urged eurozone governments to provide more fiscal stimulus. And acknowledging the interaction between fiscal and monetary policy would leave critics much less room for ECB-bashing, argues Hans-Helmut Kotz in recent piece in Project Syndicate. "In influencing economic activity, fiscal and monetary policy interact inexorably. Their joint impact is mediated through what the great economist James Tobin called a “common funnel”. In the eurozone, however, the policy debate regularly ignores this interaction between one monetary policy and 19 fiscal policies. Acknowledging it, however, would leave critics with much less room for ECB-bashing."
Diasporic Home-Making: Jews in Paris and Berlin in the 20th Century
Art Exhibit - Remember Yugoslavia? Photographs by Martin Karplus
Policy Complexity in the European Union and Beyond
CES Friday Lunch
The Social Bureaucrat: How Social Proximity among Bureaucrats Affects Local Governance in Turkey
The Atlantic Alliance Today: A Conversation with Victoria Nuland and Ambassador Philippe Etienne
Peter Gordon, Amabel B. James Professor of History and CES resident faculty, co-chairs the Harvard Colloquium for Intellectual History. CES spoke to him about the colloquium, his discipline, and the enduring legacy of Theodor Adorno. (Photo Credit: Jürgen Bauer, 2019.)
Visit Our Art Exhibit: Remember Yugoslavia? Photos by Nobel Laureate Martin Karplus
For more information about the opening discussion "Yugoslavia Revisited" and the exhibit, see here.