Greenberg Center for Geoeconomic Studies Publications Archive


Would a New 'Bretton Woods' Save the Global Economy?

Author: Benn Steil
PBS NewsHour

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.

See more in Global; Financial Crises; International Finance


Bernanke Should Follow the Advice He Gave to Japan

Authors: Benn Steil and Dinah Walker
Wall Street Journal

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.

See more in United States; Financial Crises; Monetary Policy


Geopolitical Consequences of U.S. Natural Gas Exports

Author: Michael A. Levi

In his testimony before the House Committee on Foreign Affairs' Subcommittee on Terrorism, Nonproliferation, and Trade, Michael A. Levi discusses the geopolitical consequences of a Department of Energy decision on liquid natural gas exports; the geopolitical consequences of exports themselves; and steps that the United States could take domestically to increase support for liquid natural gas exports.

See more in United States; Natural Gas