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Paul A. Wachtel

Paul A. Wachtel

Joined Stern 1972

Leonard N. Stern School of Business
Kaufman Management Center
44 West Fourth Street, 7-87
New York, NY 10012

Personal website


Paul Wachtel is a Professor of Economics and the Academic Director of the B.S. in Business and Political Economy Program, at New York University Stern School of Business. He teaches courses in monetary policy, banking and central banking, and global macroeconomics.

Professor Wachtel has been with NYU Stern since 1972. He has served as the chairperson of the Economics Department and as Vice Dean for Program Development at Stern and was also the chairperson of the University Faculty Council.

His primary areas of research include monetary policy, central banking, and financial sector reform in economies in transition. He is the author of several books, including Banking In Transition Economies: Developing Market Oriented Banking Sectors in Europe (Edward Elgar, 1998). His writing has been published in numerous journals, including, most recently, Economic Inquiry , Journal of Banking and Finance, Comparative Economic Studies and Journal of Money Credit and Banking . He is the co-editor of Comparative Economic Studies and the program chair for the Dubrovnik Economic Conferences. He has been a research associate at the National Bureau of Economic Research, a senior economic advisor to the East West Institute, and a consultant to the Bank of Israel, the IMF and the World Bank.

Professor Wachtel received his bachelor of arts from Queens College, his master of arts in economics from the University of Rochester, and his doctor of philosophy from the University of Rochester.

Research Interests

  • Monetary policy and central Banking
  • Economic growth & financial sector development
  • Financial sector reform in economies in transition

Courses Taught

  • Economics of Global Business
  • Global Perspectives on Enterprise Systems
  • Monetary Policy, Banks and Central Banks

Academic Background

Ph.D., Economics, 1971
University of Rochester

M.A., Economics, 1968
University of Rochester

B.A., Economics, 1966
City University of New York

Related News & Research

Professor Paul Wachtel explains why the Trump administration’s trade policy could erode confidence in the American economy

Professors Richard Sylla and Paul Wachtel share their financial predictions for 2018

Professor Paul Wachtel is interviewed about the impact of the renegotiation of NAFTA on US trade deficits

Professor Paul Wachtel discusses Alan Greenspan's work

Professor Paul Wachtel is interviewed about the impact of new trade agreements on the cost of consumer products

Professor Paul Wachtel discusses the implications of Donald Trump's presidency for global financial markets

Professor Paul Wachtel argues that the US economy can thrive despite weak global demand

Professor Paul Wachtel shares his predictions for China's economic future

Professor Paul Wachtel on the UN's nuclear deal with Iran

Professor Paul Wachtel comments on how the Iran nuclear deal will affect the world economy

Professor Paul Wachtel discusses the business implications of Iran's nuclear deal

Prof. Paul Wachtel on the establishment of the Asian Infrastructure Investment Bank

Prof. Paul Wachtel on the possible closure of the Export-Import Bank

Prof. Paul Wachtel's research on credit is cited

Prof. Paul Wachtel discusses the hawk and dove analogy used in monetary policy

Prof. Paul Wachtel on the recent decline in the global stock market

In an op-ed, Prof. Daniel Altman discusses monetary policy with Prof. Paul Wachtel

Prof. Paul Wachtel & co-author discuss their recent paper on financial imbalances in the US economy

Areas of Expertise


  • Currencies & Foreign Exchange
  • Economic Indicators
  • Emerging Markets
  • Globalization & Trade
  • International Economic Policy
  • Monetary Policy