Special Report posted June 6, 2014
Europe’s Fiscal Crisis Revealed: An In-Depth Analysis of Spending, Austerity, and Growth
About the Authors
Alberto Alesina, PhD, is Nathaniel Ropes Professor of Political Economy at Harvard University. He is also a member of the National Bureau of Economic Research, the Center for Economic Policy Research, the American Academy of Arts and Sciences, and the Econometric Society.
Romina Boccia is Grover M. Hermann Fellow in Federal Budgetary Affairs in the…
Issue Brief posted May 16, 2014
Realistic U.S.–German Cooperation over Russia
The Russian Aggression Prevention Act of 2014 contains a number of effective proposals that advance transatlantic security cooperation while seeking to restrain Moscow’s imperial ambitions in Eastern Europe. However, one of the bill’s main proposals—enhancing U.S. ties with Germany to confront Russia—is a flawed idea.
The Germans view the threat and challenges posed by…
Issue Brief posted May 9, 2012
Germany’s Economy Is Badly Exposed
As the European economic crisis once again comes to a boil, many wonder how the Europeans put themselves in such hot water. This is a political crisis on top of an unemployment crisis, which bubbles on top of a fiscal crisis, underneath which is the critical element of an unsustainable imbalance in trade flows. While the trade imbalances within Europe have many causes,…
Special Report posted July 15, 2010
Europe: What Future?
Abstract: The pretense that the European Union is successful and stable—and that the euro is a successful and stable currency—has been exploded by events surrounding the financial bailout of Greece. No one knows where the contagion will spread or how it may end. The world’s financial markets have occasionally teetered on the edge of panic. But the full implications of…
WebMemo posted March 4, 2010
President Obama Must Not Remove Nuclear Weapons from Europe
In April 2009—less than three months into his term of office—President Barack Obama laid out the centerpiece of his foreign policy vision for his Administration: the global eradication of nuclear weapons. Citing America’s atomic strikes against the Japanese Empire during World War II, President Obama stated that America has a “moral responsibility” to walk the “road to…
Testimony posted March 3, 2010
Chinese Outward Investment: Better Information Required
Testimony before theU.S.-China Economic and Security Review CommissionFebruary 25, 2009
The debate over the nature and implications of Chinese investment around the globe suffers badly from too much speculation and too few facts. It is in the PRC's interest to dampen the former by addressing the latter. However, there is very recent evidence that domestic political…
WebMemo posted February 12, 2010
After Ukraine Elections: What Is Next for U.S. Policy?
On February 7, Ukrainians elected former Prime Minister Victor Yanukovych as president, a defeat for current Prime Minister Yulia Tymoshenko. The first round of elections, held on January 17, appeared to be free and fair. The U.S. embassy and OSCE concluded that the second round of runoff elections were free and fair as well. Ukrainian courts may review some of…
Lecture posted January 27, 2010
Ronald Reagan and the Fall of Communism
Abstract: "The fall of the [Soviet] empire," former Czech president Vaclav Havel wrote, "is an event on the same scale of historical importance as the fall of the Roman Empire." It is true that Soviet President Mikhail Gorbachev repudiated the Brezhnev Doctrine--that the Soviet Union will use force if necessary to ensure that a socialist state remains socialist--and in so…
Executive Summary posted December 3, 2009
Executive Summary: NATO Allies in Europe Must Do More in Afghanistan
At the end of August, U.S. General Stanley McChrystal, the top NATO commander in Afghanistan, advised the Obama Administration that the mission in Afghanistan "will likely result in failure" unless the U.S. and NATO implement a new counterinsurgency strategy backed by a significant surge of up to 80,000 additional U.S. troops. Importantly, he noted…