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

Change Intra-EU Trade To Counter US Currency Aggression

by Melvyn B. Kraussvia Financial Times
Thursday, October 22, 2020

There is a way to protect the bloc from beggar-my-neighbor policies.

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In the News

ECB Faces Uphill Struggle In Efforts To Talk Down The Euro

quoting Melvyn B. Kraussvia Financial Times
Wednesday, September 23, 2020

 [Subscription Required] US Fed’s dovish shift risks ‘beggar-thy-neighbor’ devaluation battle with Frankfurt.

Analysis and Commentary

The 'No Limits' Solution To Europe's Virus Hit

by Melvyn B. Kraussvia Yahoo Finance
Tuesday, March 24, 2020

Covid-19 is make or break for the euro. The only way the European Central Bank can convince markets that it will do whatever it takes to save the single currency in the current crisis is to abandon the self-imposed political constraints on the assets it can buy under its Quantitative Easing program.

Analysis and CommentaryEconomy

Christine Lagarde Should Worry Less About The Germans Now

by Melvyn B. Kraussvia Bloomberg Quint
Wednesday, March 11, 2020

To help contain the coronavirus crisis, the European Central Bank should follow the Fed’s stimulus move.

Analysis and Commentary

Will Lagarde Conquer The ECB's German Image Problem?

by Melvyn B. Kraussvia Financial Times
Monday, January 13, 2020

Since the region’s economic crisis broke out, the eurozone’s central bank has continually found itself at odds with the economic and political establishment of the region’s most powerful country. They have lambasted almost every policy move the ECB has taken, with the central bank regularly on the receiving end of criticism in the mainstream media.

Analysis and Commentary

You’re Big, Germany. Now Act Like It.

by Melvyn B. Kraussvia Yahoo Finance
Sunday, May 19, 2019

Germany’s best friends in Europe, the Dutch, are becoming concerned that Europe’s most important country has adopted a small-country mentality. They’re right.

In the News

ECB Faces Stimulus Pressure Over Falling Inflation Outlook

quoting Melvyn B. Kraussvia Financial Times
Sunday, April 14, 2019

A technical measure of the inflation expectations of eurozone investors has fallen to its lowest level for three years, putting pressure on the European Central Bank to convince doubters that it is willing to use fresh stimulus to boost the region’s economy.

In the News

Philip Lane Sole Candidate For Top ECB Role

quoting Melvyn B. Kraussvia Financial Times
Thursday, January 31, 2019

Philip Lane looks set to secure the job of replacing Peter Praet as the European Central Bank’s chief economist, becoming the first Irish member of the bank’s top-ranking executive board in the process.

Analysis and Commentary

The ECB Should Extend Its Bond-Buying Programme

by Melvyn B. Kraussvia Financial Times
Sunday, November 18, 2018

The European Central Bank is signaling that it intends to end its €2.5tn quantitative easing programme next month. Mario Draghi, ECB president, made that clear at the bank’s monthly meeting in October. Yet the recent eurozone growth numbers were the weakest since 2014. The danger for the ECB is that it will have to start QE up again soon after ending it.

Analysis and Commentary

The ECB Should Choose An Italian To Supervise Banks

by Melvyn B. Kraussvia Bloomberg Quint
Wednesday, August 29, 2018

Melvyn Krauss is a senior fellow at the Hoover Institution at Stanford University and an emeritus professor of economics at New York University.