Melvyn B. Krauss

William L. Clayton Senior Fellow, Emeritus

Melvyn Krauss is the emeritus William L. Clayton Senior Fellow at the Hoover Institution. He is also emeritus professor of economics at New York University. He is an expert on international economics and economic development.

Krauss' current research focuses on the relationship between free trade and the welfare state, foreign trade policy issues, and regional economics.

His recent publications include How Nation's Grow Rich (Oxford University Press, 1997) and Free Trade Doesn't Kill Social Programs (Wall Street Journal, December, 1997). Krauss is also the author of How NATO Weakens the West (Simon and Schuster, 1986), Development Without Aid (McGraw Hill, 1983), and The New Protectionism (New York University Press, 1978).

Krauss has taught at various universities outside the United States including the London School of Economics, the University of Amsterdam, the University of Stockholm, the University of Aix-Marseille, and McMaster University, Hamilton, Ontario. He has also held teaching positions at New York University, Johns Hopkins School of Advanced International Studies, and Stanford University.

Krauss has published more than 35 articles in scientific journals, including the American Economic Review, the Journal of Economic Literature and the Journal of Political Economy.

Krauss received a BA degree from Brooklyn College, an MA in economics from New York University, and completed a PhD in economics at New York University in 1968.

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Recent Commentary

Analysis and Commentary

The ECB Can't Risk A Taper Tantrum

by Melvyn B. Kraussvia Bloomberg
Wednesday, October 19, 2016

With inflation in the euro zone starting to show signs of life, European Central Bank watchers are beginning to speculate about when quantitative easing might taper off. Germany's Bundesbank, which has been uncomfortable with the bond-buying program from the get-go, is likely to be a leading advocate of scaling back purchases. But there are significant risks to moving too soon.


Why More Women Are Winning At Musical Chairs

by Melvyn B. Kraussvia Bloomberg
Wednesday, July 27, 2016

Once considered a protected male preserve, symphony orchestras are becoming the most gender-blind employers in the U.S. The St. Louis Symphony had 18 women out of 88 musicians in 1964. In 2016, more than half of its musicians were women.


The EU's Inflexible Bank Rules Risk An Italian Brexit

by Melvyn B. Kraussvia Bloomberg
Tuesday, July 5, 2016

The fears of Brexit contagion may have seemed overblown after Spain's election a week ago. But as Italy's continuing banking crisis shows, the euro zone still faces major challenges.

Analysis and Commentary

Savers' Savior Steps Out Of Line

by Melvyn B. Kraussvia Handelsblatt Global Edition
Thursday, May 12, 2016

[Subscription Required] Surely Wolfgang Schäuble has taken his criticisms of the European Central Bank's policies too far, argues a U.S. economist.

Analysis and Commentary

‘Disguised’ Currency War Not Working

by Melvyn B. Kraussvia Handelsblatt Global Edition
Friday, April 15, 2016

[Subscription Required] We will all be better off when central bankers stop taking the easy road of devaluing their currencies, argues a U.S.-based expert on international economics and development.

Analysis and Commentary

Europe Needs To Pull Together On Security

by Melvyn B. Kraussvia Handelsblatt Global Edition
Tuesday, April 5, 2016

[Subscription required] Europe has received security on the cheap for years through NATO, and now it must be willing to spend on its own internal security to protect its citizens.

Analysis and Commentary

Of Hawks And Protectionists

by Melvyn B. Kraussvia Handelsblatt Global Edition
Wednesday, January 20, 2016

[Subscription Required] Mario Draghi is optimistic about reaching his inflation goal of just under 2 percent over the next few years, but he may be underestimating the threat from within the ECB's Governing Council, argues an economics professor.

Analysis and Commentary

QE Could Spur Reform In The Eurozone

by Melvyn B. Kraussvia Wall Street Journal
Friday, March 13, 2015

Combating deflation and lowering interest rates make structural reforms in periphery countries more affordable.

Analysis and Commentary

The U.S. Should Help Lower the Euro

by Melvyn B. Kraussvia Bloomberg View
Wednesday, August 13, 2014

Europe is in a dilemma, caught between its geopolitical obligation to impose meaningful economic sanctions against Russia and its domestic obligation to counter low inflation and slack economic activity. The first duty should put upward pressure on the euro, while the second requires the currency to fall in the foreign exchanges.

Euro Banknotes
Analysis and Commentary

The Threat of the 'Cold War' Euro

by Melvyn B. Kraussvia Wall Street Journal
Sunday, May 4, 2014

When the Ukrainian crisis broke out, most thought it would send the euro lower. In fact, the opposite actually happened: The euro has broadly strengthened, and a key reason is that the common currency has become a safe haven for money fleeing Russian assets.