
Economic historian of the international monetary system who has taught at Berkeley since 1987; research associate at the NBER and fellow of the Centre for Economic Policy Research.
University of California, Berkeley
Golden Fetters established the standard account of the interwar gold standard: fixed exchange rates transmitted deflation across borders, and recovery began in each country only after it left the peg. The later books apply that monetary-history method to reserve-currency status, the euro, sovereign debt capacity and the 2008 policy response.
6 books of their own · 20 articles · 42 appearances
Money between nations from the gold standard to floating rates and the euro.
How the gold standard spread the Depression, and why leaving it early meant recovery.
How the dollar became the world's currency, what it gives the US, what may follow.
How 1930s lessons guided policy in 2008, averting a depression but adding errors.
Sovereign borrowing from Italian city-states to the pandemic, and what it paid for.
Key academic papers on how the gold standard worked and why it broke down.
Globalizing Capital | Money between nations from the gold standard to floating rates and the euro. | 1996 | T1 | – |
Golden Fetters | How the gold standard spread the Depression, and why leaving it early meant recovery. | 1992 | T1 | – |
Exorbitant Privilege | How the dollar became the world's currency, what it gives the US, what may follow. | 2011 | T1 | – |
Hall of Mirrors | How 1930s lessons guided policy in 2008, averting a depression but adding errors. | 2015 | T1 | – |
In Defense of Public Debt | Sovereign borrowing from Italian city-states to the pandemic, and what it paid for. | 2021 | T1 | – |
The Gold Standard in Theory and History | Key academic papers on how the gold standard worked and why it broke down. | 1997 | T1 | – |