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Stefan Gerlach

Stefan Gerlach

11 commentaries

Stefan Gerlach is Chief Economist at EFG Bank in Zurich and a former deputy governor of the Central Bank of Ireland. He is also a former Executive Director and Chief Economist of the Hong Kong Monetary Authority and Secretary to the Committee on the Global Financial System at the BIS.

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  1. Crunch Time for Central Banks
    gerlach11_getty images_green finance Getty Images

    Crunch Time for Central Banks

    Sep 15, 2020 Stefan Gerlach urges monetary policymakers to respond to shifting public sentiment on inequality and the environment.

  2. Who Can Influence the ECB?
    gerlach10_Sean GallupGetty Images_ECBsignbuilding Sean Gallup/Getty Images

    Who Can Influence the ECB?

    Oct 4, 2019 Stefan Gerlach urges eurozone governments not to nominate inflexible candidates to the European Central Bank's Executive Board.

  3. It’s Time for the ECB to Put QE on Hold
    gerlach9_Ralph OrlowskiGetty Images_eurozone Ralph Orlowski/Getty Images

    It’s Time for the ECB to Put QE on Hold

    Sep 9, 2019 Stefan Gerlach argues that the eurozone does not need additional monetary stimulus for the time being.

  4. Lagarde’s ECB Checklist
    gerlach8_SAULLOEBAFPGettyImages_christinelagardeblacksuit Saul Loeb/AFP/Getty Images

    Lagarde’s ECB Checklist

    Jul 26, 2019 Stefan Gerlach lists five steps that the European Central Bank's next president should take now and on taking office in November.

  5. The ECB Needs to Explain Itself
    gerlach7_GEORGESgOBETAFPGettyImages_legarderehntalkingatconference Georges Gobet/AFP/Getty Images

    The ECB Needs to Explain Itself

    Jul 8, 2019 Stefan Gerlach calls for the European Central Bank to clarify numerous ambiguities about its monetary-policy strategy.

  1. BP financial crisis Anadolu Agency / Contributor via Getty Images

    Here We Go Again?

    Fifteen years after the collapse of the US investment bank Lehman Brothers triggered a devastating global financial crisis, the banking system is in trouble again. Central bankers and financial regulators each seem to bear some of the blame for the recent tumult, but there is significant disagreement over how much – and what, if anything, can be done to avoid a deeper crisis.

  2. roubini175_Michael M. SantiagoGetty Images_debt crisis Michael M. Santiago/Getty Images

    The Coming Doom Loop

    Nouriel Roubini

    In the face of high and persistent inflation, recession risks, and now a looming insolvency crisis in the financial sector, central banks like the US Federal Reserve are facing a trilemma. Unable to fight inflation and provide liquidity support simultaneously, the only solution is a severe recession – and thus a broader debt crisis.

    warns that liquidity support will not be enough to prevent a deeper financial crisis and economic downturn.
  3. james202_FABRICE COFFRINIAFP via Getty Images_ubs credit suisse FABRICE COFFRINI/AFP via Getty Images

    Crises of Uncertainty

    Harold James fears the consequences of policymakers’ continual revision of economic and financial governance rules.
  4. spence160_wenjin chenGetty Images_USChinawar wenjin chen/Getty Images

    Destructive Decoupling

    Michael Spence

    Policymakers in both the United States and China seem to have fully accepted, and even embraced, the logic of economic decoupling. But what exactly will decoupling entail, and what will its consequences be?

    tallies the costs of the global economic fragmentation that the US-China rivalry has set in motion.
  5. leonard87_DMITRY ASTAKHOVSPUTNIKAFP via Getty Images_xi DMITRY ASTAKHOV/SPUTNIK/AFP via Getty Images

    Xi Jinping’s Idea of World Order

    Mark Leonard explains China’s new strategy for appealing to developing countries and emerging economies.
  6. ressa1_Leon NealGetty Images_journalism Leon Neal/Getty Images

    Tyranny’s Propagandists Are Winning

    Maria Ressa & Nishant Lalwani urge funders and policymakers to commit significant funds to support public-interest journalism.
  7. hausmann110_Afriadi HikmalNurPhoto via Getty Images_indonesiacoal Afriadi Hikmal/NurPhoto via Getty Images

    Dodgy Climate Finance

    Ricardo Hausmann argues that many assistance programs misrepresent the amount of aid being provided.
  8. rogoff235_Tom WilliamsCQ-Roll Call, Inc via Getty Images_chewtiktokcongress Tom Williams/CQ-Roll Call, Inc via Getty Images

    Tick TikTok Goes Globalization

    Kenneth Rogoff thinks efforts to restrict American users’ access to the app are hypocritical and counterproductive.
  9. acemoglu58_Chris McGrathGetty Images_turkeyearthquake Chris McGrath/Getty Images

    To Reconstruct Turkey, Rebuild Its Democracy

    Daron Acemoglu & Cihat Tokgöz think the country needs not just a new government but a broader economic and political transformation.

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