A remarkably deft work of storytelling that reveals how the blueprint for the postwar economic order was actually drawn.

A fascinating intellectual history of monetary nationalism from the ancient world to the present exploring why, in its modern incarnation, it represents the single greatest threat to globalization.

Over the past two decades, another form of economic exchange besides imports and exports has risen to a level of vastly greater significance and political concern: the purchase and sale of financial assets across borders.

The debt crisis that has hammered southern Europe since 2010 will have long-lived economic effects, despite the moderation in Spanish and Italian government borrowing costs since the European Central Bank's "Outright Monetary Transactions" initiative last September.

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A remarkably deft work of storytelling that reveals how the blueprint for the postwar economic order was actually drawn.

A fascinating intellectual history of monetary nationalism from the ancient world to the present exploring why, in its modern incarnation, it represents the single greatest threat to globalization.

Over the past two decades, another form of economic exchange besides imports and exports has risen to a level of vastly greater significance and political concern: the purchase and sale of financial assets across borders.

A seminal volume bringing together the research and critical thinking of many of the world's top macro- and micro-economists to provide a unique, multifaceted perspective on the causes of technological innovation and its relationship to economic performance. Through the use of detailed, up-to-date country and industry studies, Technological Innovation and Economic Performance provides the most authoritative and detailed analysis of this topic ever assembled.

Institutional Investors is the first and only comprehensive analysis of the global economic impact of the institutionalization of savings associated with the growth of pension funds, life insurance companies, and mutual funds. It charts the development and performance of the asset management industry and analyzes the implications of rising institutionalized saving for the development of the securities trading industry, the financial sector as a whole, and the wider economy.

Leading experts elucidate the changing nature of antitrust enforcement on both sides of the Atlantic, with a keen eye to future multilateral, as well as bilateral, developments.

In this report, Benn Steil shows that the financial crisis is the inevitable bust of a classic credit boom, and explains how monetary, taxation, and home ownership promotion policy combined with other features of the financial system to fuel an unsustainable buildup in debt. He recommends significant reforms to reverse the debt financing bias and make the system more resilient to falls in asset prices. This report is also available in Arabic.

CFR's Benn Steil says the dollar's continuing decline could result in higher prices for major imports like energy and, in a worst-case scenario, might lead to higher inflation and interest rates.

CFR’s Benn Steil examines proposals for a regulatory overhaul of the U.S. financial system put forth by Treasury Secretary Henry Paulson.

Benn Steil's op-ed for Paul Solman's PBS The Business Desk site looks critically at calls for "a new Bretton Woods." He argues that many of the critical precepts behind the 1944 American Bretton Woods blueprint were overturned by the Truman Administration a mere three years later, and that the operation of the Bretton Woods monetary system was far briefer and more troubled than is typically reckoned.

Benn Steil and Dinah Walker explain why the Fed's massive holdings of mortgage-backed securities (MBS) are distorting its thinking about the conduct of monetary policy going forward. They propose a novel plan to rectify this, in which the Fed swaps its MBS with the Treasury in return for Treasury securities, which the Fed can sell as part of a normal "exit" from monetary stimulus.

Benn Steil explains in his column for Dow Jones' Financial News why the latest craze in monetary policymaking—targeting nominal output—has no staying power.

Benn Steil's op-ed on Bloomberg Echoes describes the drama surrounding the collapse of dollar-starved Britain's empire in the wake of WWII.

Benn Steil's Wall Street Journal op-ed explains the unique historical circumstances in which the Bretton Woods international monetary system emerged in 1944, and why calls for "a new Bretton Woods" today will go unsatisfied.

Benn Steil's Wall Street Journal Europe op-ed, co-authored with Dinah Walker, argues that the Bank of England is getting "Libored"—that is, misled and manipulated—by the banks benefiting from its Funding for Lending Scheme. The Fed, which has shown interest in the scheme, should beware.

Benn Steil's column in Dow Jones' Financial News, co-authored with Dinah Walker, shows why last March's Greek debt restructuring left Greece in poor shape to avoid financial collapse

Benn Steil's Forbes op-ed, co-authored with Dinah Walker and Romil Chouhan, shows why President Obama's touting of renewable energy as a job-creator is misguided.

Benn Steil's column in Dow Jones' Financial News, co-authored with Dinah Walker, analyzes Mitt Romney's budget math. Without questioning the candidate's assumptions on growth or available sources of revenue, they estimate a roughly $1 trillion annual budget gap.