Non resident scholars

Ashoka Mody

Ashoka Mody

Twitter: @AshokaMody

Ashoka Mody is 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

Read article More on this topic More by this author

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 Topic: Global Economics & Governance Date: August 26, 2015
Read article More on this topic

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 and Guntram B. Wolff Topic: Finance & Financial Regulation Date: August 21, 2015
Read article More on this topic

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
Read article More on this topic More by this author

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
Read article More on this topic

Blog Post

Ashoka Mody

Delhi’s children deserve quality education

Money has not held up educational advancement in Delhi or in India more generally. Delhi’s education budget has risen steadily. And the worry is that the increased budget will once again be hijacked by glamorous but wasteful projects, including in higher education.

By: Ashoka Mody and Ritika Katyal Topic: Global Economics & Governance Date: August 4, 2015
Read article Download PDF More on this topic

Working Paper

The Vulnerability of Europe's Small and Medium-Sized Banks

The Vulnerability of Europe's Small and Medium-Sized Banks

Stress tests show significant weaknesses in Europe's small and medium-sized banks. Strengthening the banking system is important to achieve a sustainable recovery because it will revitalise credit to the healthier segments of the economy. But instead of emphasising bank recapitalisation, we believe the task is to shrink the banking sector to a healthier core.

By: Ashoka Mody and Guntram B. Wolff Topic: Finance & Financial Regulation Date: July 15, 2015
Read article

Blog Post

Ashoka Mody
Dae Woong Kang

The birth of European macroeconomics

In 1997, Milton Friedman warned that when politics clashes with economics, the outcome is not a pretty one. This column reviews some of criticisms and weaknesses of the European macroeconomic system, taking a historic look at the decades leading up to the creation of the euro. The clash Friedman warned about is manifest now in Greece. The economic logic for dealing with Greece is clear, but politics continue to defy economics.

By: Ashoka Mody and Dae Woong Kang Topic: European Macroeconomics & Governance Date: July 14, 2015
Read article More on this topic More by this author

Blog Post

Ashoka Mody

Professor Blanchard Writes a Greek Tragedy

Olivier Blanchard has, with his customary clarity and candor, addressed criticisms of the IMF’s role in Greece’s financial rescue. His is a personal statement. But in writing it, he also presents the IMF’s operating philosophy and mandate.  Blanchard’s statement will, therefore, not only shape our thinking on the evolution of the Greek crisis but it could define how we view the proper role of the IMF. His blog post deserves careful reading and consideration.

By: Ashoka Mody Topic: European Macroeconomics & Governance Date: July 13, 2015
Read article More by this author

Blog Post

Ashoka Mody

In bad faith

On July 2, the IMF released its analysis of whether Greek debt was sustainable or not.  The report said that Greek debt was not sustainable and deep debt relief along with substantial new financing were needed to stabilize Greece.

By: Ashoka Mody Topic: European Macroeconomics & Governance Date: July 3, 2015
Read article More on this topic More by this author

Opinion

Ashoka Mody

David Cameron and the EU’s Waterloo

The United Kingdom, whose new majority Conservative government has pledged to hold a referendum on European Union membership by the end of 2017, perhaps even next year, is not the outlier that it is often portrayed as being. 

By: Ashoka Mody Topic: European Macroeconomics & Governance Date: June 14, 2015
Read article More on this topic More by this author

Blog Post

Ashoka Mody

Europe’s integration overdrive

May 10 is the fifth anniversary of the bailout of Greece. Set almost exactly 60 years apart from the Schuman Declaration, the events triggered by the Greek bailout have unleashed a daunting challenge to European cooperation and harmony.

By: Ashoka Mody Topic: European Macroeconomics & Governance Date: May 19, 2015
Read article More on this topic More by this author

Opinion

Ashoka Mody

The IMF's big Greek mistake

The Greek government's mounting financial woes are leading it to contemplate the previously unthinkable: defaulting on a loan from the International Monetary Fund. Instead of demanding repayment and further austerity, the IMF should recognize its responsibility for the country's predicament and forgive much of the debt.

By: Ashoka Mody Topic: European Macroeconomics & Governance Date: April 27, 2015
Load more posts