Melvyn B. Krauss

William L. Clayton Senior Fellow

Melvyn Krauss is the 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

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.

Euro with a life saver
Analysis and Commentary

Europe Needs the Fed’s Medicine

by Melvyn B. Kraussvia Bloomberg View
Wednesday, February 5, 2014

One of the great ironies of the post-Lehman Brothers financial crisis is that the euro, a currency much of Wall Street thought unable to survive the storm,

Euro Zone
Analysis and Commentary

Reasons Behind the Euro’s Puzzling Strength

by Melvyn B. Kraussvia Irish Examiner
Wednesday, December 18, 2013

Why is the euro so strong, when the eurozone’s economy is barely out of recession?

Interest Rates
Analysis and Commentary

Rate Cut Makes Draghi a Good German

by Melvyn B. Kraussvia Bloomberg View
Wednesday, November 13, 2013

The European Central Bank’s decision last week to guard against deflation by cutting rates was in the collective interests of the euro area. That includes

an image
Analysis and Commentary

A Little Inflation Is Just What Europe Needs

by Melvyn B. Kraussvia Bloomberg View
Sunday, July 28, 2013

The European Central Bank has faced criticism lately for failing to give a clearer blueprint of future monetary policy in its new “forward guidance.” The

Analysis and Commentary

Germany Can Relax Euro Austerity and Lose Nothing

by Melvyn B. Kraussvia Bloomberg View
Thursday, April 25, 2013
Analysis and Commentary

Letter: No Free Haircuts

by Melvyn B. Kraussvia International Herald Tribune
Wednesday, June 22, 2011

Why haven’t Europe’s politicians explained to taxpayers that when it comes to bailouts there is no such thing as a free haircut...?