Perry G. Mehrling


Perry G. Mehrling, Professor of Economics, joined the faculty of Barnard College in 1987, where he teaches courses on the economics of money and banking, the history of money and finance, and the financial dimensions of the U.S. retirement, health, and education systems. His most recent book is The New Lombard Street: How the Fed became the dealer of last resort (Princeton 2011). His best-known book Fischer Black and the Revolutionary Idea of Finance (Wiley 2005, 2012) has recently been released in a revised paperback edition. Currently, Prof. Mehrling directs the educational initiatives of the Institute for New Economic Thinking, one of which is his course Economics of Money and Banking, available on Coursera at

By this expert

Shadow banking’s enduring perils

Article | May 9, 2016

Five lessons from the last crisis — for managing the next one

RMB in SDR, Now What?

Article | Dec 2, 2015

“Governments propose, markets dispose,” as Charles Kindleberger liked to say.

Elasticity and Discipline in the Global Swap Network

Paper Working Paper Series | | Nov 2015

This paper sketches the outlines of the new international monetary system that has emerged in the aftermath of the global financial crisis.

The IMF Worries About EME Corporate Leverage

Article | Oct 2, 2015

Hot on the heels of the BIS, now comes the IMF Global Financial Stability report, “Corporate Leverage in Emerging Markets–A Concern?”. Yes, a concern, and just in time for the annual meeting in Peru next week.

Featuring this expert

The Next Economic Frontier and the Wild World of Non-Rational Expectations

Video | Jan 14, 2013

One of the fundamental ideas of modern economics — that people have rational expectations, an unbiased, statistically correct view of the future — is, in reality, a simple hypothesis.

Behind the Scenes of International Banking Regulation

Video | Jan 7, 2013

Five years into the Great Recession, discussion and political fights continue about the right approach to international banking supervision. How to avert the next financial crisis or at the very least lessen its damage?

Azim Premji Winter School 2013

Event Workshop | Jan 6–17, 2013

The Azim Premji University-Institute for Economic Thinking Advanced Graduate Workshop in Poverty, Development and Globalization is interested in identifying the complex global interactions that influence poverty and development as well as the development strategies that have proven successful in promoting equitable growth, promoting capabilities, and reducing poverty.

The Survival of the Riskiest

Video | Jan 2, 2013

Financial fragility does not fall from the sky. That’s why treating risk as if it comes from exogenous shocks can’t capture the reality of financial markets.