Former scholars

Ashoka Mody

Ashoka Mody

Charles and Marie Robertson Visiting Professor in International Economic Policy at the Woodrow Wilson School, Princeton University

Twitter: @AshokaMody

Ashoka Mody is the Charles and Marie Robertson Visiting Professor in International Economic Policy at the Woodrow Wilson School, Princeton University. Previously, he was Deputy Director in the International Monetary Fund’s Research and European Departments. He was responsible for the IMF’s Article IV consultations with Germany, Ireland, Switzerland, and Hungary, and also for the design of Ireland's financial rescue program. Earlier, at the World Bank, his management positions included those in Project Finance and Guarantees and in the Prospects Group, where he coordinated and was principal author of the Global Development Finance Report of 2001. He has advised governments worldwide on developmental and financial projects and policies, while writing extensively for policy and scholarly audiences.

Mody has been a Member of Staff at AT&T’s Bell Laboratories, a Research Associate at the Centre for Development Studies, Trivandrum, and a Visiting Professor at the University of Pennsylvania’s Wharton School. He is a non-resident fellow at the Center for Financial Studies, Frankfurt and the Center for Global Government, Washington D.C. He received his Ph.D. in Economics from Boston University.

Declaration of outside interests 2014

Declaration of outside interests 2015

Contact information

ashokamody@gmail.com

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Opinion

Ashoka Mody

The market's troubling message

Amid one of the worst market routs on record, a chorus of reassuring economic commentators insists that global fundamentals are sound and investors are overreacting, behaving like a panicked herd. Don’t be so sure.

By: Ashoka Mody Topic: Finance & Financial Regulation Date: January 30, 2016
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Blog Post

kang
ligthart
Ashoka Mody

The ECB and the Fed: a comparative narrative

Although the Great Recession was viewed as a US problem, the Eurozone was affected by it from the start. This column compares the monetary policy responses to the Crisis by the Fed and the ECB. It argues that the US approach has been much more aggressive and proactive. The ECB failed to provide stimulus when needed, and as a result the Eurozone might slip into a low-inflation trap.

By: Dae Woong Kang, Nick Ligthart and Ashoka Mody Topic: European Macroeconomics & Governance Date: January 21, 2016
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Opinion

Ashoka Mody

Greece: a European tragedy

Wrapped up in the details of pension reforms and home foreclosure—matters that, no doubt, have important consequences for many— the big picture has faded into the background. It is easy to forget how we got here, and where we are going.

By: Ashoka Mody Topic: European Macroeconomics & Governance Date: January 14, 2016
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Opinion

Ashoka Mody

Delays and half measures

Are the eurozone’s continuing woes the result of its incomplete construction or because of policy errors in responding to the crisis?

By: Ashoka Mody Topic: European Macroeconomics & Governance Date: January 13, 2016
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Opinion

Ashoka Mody

Another slow year for the global economy

The factors that dragged down the global economy in 2015 will persist – and in some cases even intensify – in the new year.

By: Ashoka Mody Topic: Global Economics & Governance Date: January 5, 2016
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Opinion

Ashoka Mody

Clueless in Europe

Despite a slowing Chinese economy, decelerating inflation and a stronger euro, European Central Bank President Mario Draghi has said he will do more to support euro-area growth only “if necessary.” He should stop listening to Europe's scolds and do the right thing.

By: Ashoka Mody Topic: European Macroeconomics & Governance Date: October 20, 2015
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Opinion

Ashoka Mody

No lessons learned

With the drag from austerity, the debt-deflation spiral, and a weak international economy, where does the projected Greek rebound come from?

By: Ashoka Mody Topic: European Macroeconomics & Governance Date: September 23, 2015
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Opinion

Ashoka Mody

The rolling global crisis will come home

When productivity growth slows down, there are two choices: to invest in the future or to live within one’s means. Instead, policymakers preoccupied with short-term goals have sought easy growth elixirs and soothing words.

By: Ashoka Mody and Bruegel Topic: Global Economics & Governance Date: August 26, 2015
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Opinion

Ashoka Mody
Guntram B. Wolff

Euro area banks remain vulnerable

Strengthening the banking system is important to achieve a sustainable recovery, because it will revitalise credit to the healthier segments of the economy. However without restructuring, euro area banks are still vulnerable.

By: Ashoka Mody, Guntram B. Wolff and Bruegel Topic: Finance & Financial Regulation Date: August 21, 2015
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Blog Post

Ashoka Mody
Guntram B. Wolff

Still vulnerable: the euro area’s small and medium-sized banks

In our recent research we show that the small and medium-sized banks (SMBs) – and among them the unlisted banks – remain under considerable stress.

By: Ashoka Mody and Guntram B. Wolff Topic: Finance & Financial Regulation Date: August 14, 2015
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Blog Post

Ashoka Mody

Wolfgang Schäuble, Debt Relief, and the Future of the Eurozone

The German Finance Minister Wolfgang Schäuble has had enough. Greece, he says, cannot receive debt relief from European creditors because European official creditors are forbidden by European treaties to grant relief. But this cannot be true. Once a loan has been made, any lender exposes himself to a default risk.

By: Ashoka Mody Topic: European Macroeconomics & Governance Date: August 6, 2015
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