Ashoka Mody is Charles and Marie Robertson Visiting Professor in International Economic Policy at the Woodrow Wilson School, Princeton University. He is author of EuroTragedy: A Drama in Nine Acts. Previously, Professor Mody was Deputy Director in the International Monetary Fund’s Research and European Departments. He has worked at the World Bank, AT&T’s Bell Laboratories, and the Centre for Development Studies, Trivandrum. He has been a Visiting Professor at the University of Pennsylvania’s Wharton School and is a non-resident fellow at the Center for Financial Studies, Frankfurt. He received his Ph.D. in Economics from Boston University.
Ashoka Mody
Charles and Marie Robertson Visiting Professor in International Economic Policy
409 Robertson Hall, Princeton University
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EuroTragedy
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It says U.S. growth was puffed up by an unwarranted stimulus and repatriation of cash that lowered bond yields. Both effects are fading. With China slowing down, rapidly, and the eurozone sliding into recession, rough times ahead. Brace yourself. t.co/b6in28fgH7
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@lucasguttenberg @_A_K_K_ @EmmanuelMacron @EU_Commission I can understand your disappointment after your high hopes following Meeseburg. t.co/ABBHbjrrBF The history is so relentlessly clear. Instead of evolution, euro-area authorities continue to spin in another involutionary cycle. And the current “deal” could become worse.
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@Gitro77 Am tied up with a few things and will respond soon. Meanwhile, read helpful discussion by @glegorano @WSJ on why this is not a done deal.
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“EU fiscal rules require a continual cutting of countries’ budget deficits on a “structural” basis, stripping out the effects of economic swings and one-time fiscal measures.” Which in recessionary conditions makes the recession worse. QED. t.co/3kRVK9nB0f
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@MMQWalker @WSJ Thank you. Excellent clarification of a fuzzy debate.