I am an economic and financial historian. My research explores international finance, money and banking from a historical perspective. It looks at how private finance and monetary policy have affected the business cycle over time, creating and destroying leverage and liquidity. I am an expert in the economic and financial history of the Great Depression. My research also focuses financial crisis resolution and the macroeconomic effects of fiscal policy. I teach monetary and financial history from 1600 to the twenty-first century, and am a CEPR Research Affiliate.
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Shaped by the 2008 financial crisis, a new generation of economists is expanding the boundaries of economic thinking on credit cycles, private debt, and financial stability.