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Stefan Gerlach

Stefan Gerlach

13 commentaries

Stefan Gerlach, Chief Economist of EFG Bank in Zurich, is a former executive director of the Hong Kong Monetary Authority and a former deputy governor of the Central Bank of Ireland.

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  1. The Limits of Central-Bank Independence
    gerlach13_ROSLAN RAHMANAFP via Getty Images_central banks ROSLAN RAHMAN/AFP via Getty Images

    The Limits of Central-Bank Independence

    Aug 1, 2024 Stefan Gerlach reminds monetary policymakers that they are ultimately reliant on political consensus, not law.

  2. Inflation Targeting Isn’t for Everyone
    gerlach12_ROSLAN RAHMANAFP via Getty Images_MAS ROSLAN RAHMAN/AFP via Getty Images

    Inflation Targeting Isn’t for Everyone

    Mar 7, 2024 Stefan Gerlach thinks small, open economies would do better with strategies tailored to their own unique circumstances.

  3. 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.

  4. 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.

  5. 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.

  1. velasco156_Alex WroblewskiGettyImages_dnc_harris_buttons Alex Wroblewski/Getty Images
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    How Liberals Lost America

    Andrés Velasco attributes Donald Trump’s return to power to Democrats’ embrace of both moral neutrality and moral preachiness.
  2. halland10_TERJE PEDERSENNTBAFP via Getty Images_norwayukraineaid Terje Pedersenntb/AFP via Getty Images
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    Norway Should Cede Its War Windfall to Ukraine

    Håvard Halland & Knut Anton Mork say that the government's justifications for its war profiteering are disingenuous and short-sighted.
  3. bhide11_Anthony KwanGettyImages_deepseek Anthony Kwan/Getty Images
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    Is DeepSeek Really a Threat?

    Amar Bhidé

    If vindicated, DeepSeek’s technology could be to large language models what Nikola Tesla’s breakthroughs with alternating current were to electrification. While it cannot overcome the unavoidable limitations of backward-looking statistical models, it could make their price performance good enough for wider use.

     explains what a purported Chinese AI breakthrough does and does not mean for the industry.
  4. spence180_Picture AllianceGettyImages_germany_annual_economic_report Picture Alliance/Getty Images
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    What’s Wrong With Germany’s Economy?

    Michael Spence

    Germany became a European powerhouse partly because, in the early 2000s, its industrial sectors took over the highest-valued-added segments of global supply chains. Replicating this success today would require Germany to move to the forefront of the digital transformation, and it cannot do that without the EU.

     thinks the country’s prospects depend significantly on closing the digital-technology gap with the US and China.
  5. hausmann119_Christine OlssonGettyImages_northvolt_bankruptcy Christine Olsson/Getty Images
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    When Companies Fail to Learn, They Learn to Fail

    Ricardo Hausmann explains how the inability to identify and address knowledge gaps can doom even the most promising projects.
  6. berahab1_LUDOVIC MARINAFP via Getty Images_gabonforest Ludovic Marin/AFP via Getty Images
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    How to Make Carbon Pricing Work for Africa

    Rim Berahab & Otaviano Canuto argue that policies must be structured to facilitate, not obstruct, the continent’s shift to renewables.
  7. jma6_NurPhotoGettyImages_china_evs_trade NurPhoto/Getty Images
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    Green Free Trade in a Protectionist Age

    Ma Jun envisions regional arrangements that facilitate the exchange of climate-friendly goods and services.
  8. mazarei1_Sayed HassanGetty Images_suezcanal Sayed Hassan/Getty Images
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    Egypt’s Economic Crisis May Not Be Over

    Adnan Mazarei urges the international community to push for long-overdue governance and economic reforms.
  9. iyer2_SIA KAMBOUAFP via Getty Images_malariavaccine Sia Kambou/AFP via Getty Images
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    Climate Displacement Is Also a Health Crisis

    Jayasree K. Iyer proposes a four-pronged strategy to ensure that essential medicines reach vulnerable populations.

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