House of Debt

Amir Sufi April 24th, 2014

Myron Scholes Forum, April 21, 2014

Amir Sufi, Chicago Board of Trade Professor of Finance, Chicago Booth

The Great American Recession resulted in the loss of eight million jobs between 2007 and 2009. More than four million homes were

Go to Item ›

The Fed’s Mission Impossible

December 29th, 2011

The Federal Reserve last week announced its new “Enhanced Prudential Standards and Early Remediation Requirements” for big banks, as required by the Dodd-Frank law. You have to pity the poor Fed because it faces an impossible task.

The Fed’s proposal

Go to Item ›

Circling the Drain: Can the Euro Be Save, Or Is It Doomed?

and November 30th, 2011

Freakonomics Blog
November 30, 2011

Professors Christian Leuz, Anil Kashyap, and Randall Kroszner participated in a Freakanomics Quorum, in which they offered their thoughts on the following questions: “In light of the recent European debt crisis, what do

Go to Item ›

Last Chance to Save the Euro

September 30th, 2011

The European debt discussions always paint the alternatives as either bail out countries (really, bail out their bondholders) or break up the euro. In fact, the euro and the European economic union would be stronger if countries can default. For

Go to Item ›

Luigi Zingales Speaks on Bloomberg’s “Surveillance Midday”

August 15th, 2011

Luigi Zingales, speaking with Tom Keene of Bloomberg Television’s “Surveillance Midday” on August 12th, 2011, discussed the U.S. and European sovereign debt, financial market volatility, and the U.S. housing market.

Watch video

Go to Item ›

How to Contain the European Debt Crisis

July 20th, 2011

Anil K Kashyap and Francesco Giavazzi

With Italy now paying the same rates as Spain to finance its debt, the European crisis has reached a critical stage.

To prevent the possible demise of the single currency, the European Union now

Go to Item ›

Europe’s Greek Stress Test

and June 17th, 2011

Greek debt is in trouble—again. After a month of dickering, it seems likely that the International Monetary Fund and the European Union will agree to roll over Greece’s debt so bondholders will be paid in full. Why is Europe so

Go to Item ›

Critical Dialogues: Fault Lines in the Global Economy

and March 4th, 2011

Chicago Booth Magazine’s “Critical Dialogues” is a series of conversations with members of the Chicago Booth community who play key roles in shaping business and economic policy worldwide. This discussion features professor Raghuram Rajan, former economic counselor of the International

Go to Item ›

How to Regulate the Capital and Corporate Structures of Banks?

John Vickers January 25th, 2011

John Vickers, Chairman of the United Kingdom’s Independent Commission on Banking, recently spoke at the conference “Regulating Financial Intermediaries – Challenges and Constraints”, co-sponsored by the IGM.

Read speech>

The full agenda for the conference can be found here.

Go to Item ›

Fiscal Stimulus, RIP

November 23rd, 2010

Was “fiscal stimulus” the central idea that saved us from a second great depression, with our only regret that is was not bigger? Or is this an old fallacy, tried and failed, and ready finally for the ash-heap of history?

Go to Item ›

Financial Trust Index

a measure of confidence Americans have in the private institutions in which they can invest

Visit the Financial Trust Index Site

Share

Scholes Forum: Productivity Growth Is Slower Than You Think

A VIDEO OF THE IGM’S MOST RECENT SCHOLES FORUM TALK CAN BE VIEWED HERE.

Share

US Monetary Policy Forum

The US Monetary Policy Forum (USMPF) brings academics, market economists, and policy makers together to discuss US monetary policy for an annual conference, sponsored by the IGM. A standing group of academic and private sector economists produces a report on a critical medium-term issue confronting the Federal Open Market Committee.

2016 USMPF REPORT
LANGUAGE AFTER LIFTOFF: FED COMMUNICATION AWAY FROM THE ZERO LOWER BOUND

2015 USMPF REPORT
THE EQUILIBRIUM REAL FUNDS RATE: PAST, PRESENT, AND FUTURE

2014 USMPF REPORT
MARKET TANTRUMS AND MONETARY POLICY

2013 USMPF REPORT
CRUNCH TIME: FISCAL CRISES AND THE ROLE OF MONETARY POLICY
EXECUTIVE SUMMARY

2012 USMPF REPORT
HOUSING, MONETARY POLICY, AND THE RECOVERY

2011 USMPF REPORT
STRESSED OUT: MACROPRUDENTIAL PRINCIPLES FOR STRESS TESTING

2010 USMPF REPORT
FINANCIAL CONDITIONS INDEXES: A NEW LOOK AFTER THE FINANCIAL CRISIS

2009 USMPF REPORT
OIL AND THE MACROECONOMY: LESSONS FOR MONETARY POLICY

2008 USMPF REPORT
LEVERAGED LOSSES: LESSONS FROM THE MORTGAGE MARKET MELTDOWN

2007 USMPF REPORT
UNDERSTANDING THE EVOLVING INFLATION PROCESS

Share

China Economic Summer Institute

The China Economic Summer Institute enables the best Chinese scholars to stay in active contact with top-notch researchers from the rest of the world, and provides a forum to encourage promising young Chinese researchers to work on topics that are important for understanding the Chinese economy. To learn more see the CESI WEBSITE.

SELECTED PAPERS FROM THE 2012 CHINA ECONOMIC SUMMER INSTITUTE:

PUBLIC SCHOOL RESOURCES AND PRIVATE SUBSTITUTES IN URBAN CHINA
by Cheng Yuan and Lei Zhang

A MODEL OF CHINA’S STATE CAPITALISM
by Xi Li, Xuewen Liu, and Yong Wang

A UNIFIED MODEL OF STRUCTURAL ADJUSTMENTS AND INTERNATIONAL TRADE: THEORY AND EVIDENCE FROM CHINA
by Hanwei Huang, Jiandong Ju, and Vivian Z. Yue

*The IGM cosponsors the CESI with Tsinghua University; UC Berkeley’s Program on Institutions and Governance; and the Katholieke Universiteit Leaven’s LICOS Center.

Share

Research on International Accounting, Enforcement, and Global Convergence

Capital-Market Effects of Securities Regulation: The Role of Implementation and Enforcement
by Hans Christensen, Luzi Hail, and Christian Leuz

Christian Leuz proposes creating a “Global Player Segment” in which firms would use the same reporting rules (ie, IFRS), face the same enforcement mechanisms, and have similar incentives for transparent reporting

Read Leuz’s GPS proposal>
See related research paper>

Global Accounting Convergence and the Potential Adoption of IFRS by the United States
by Luzi Hail, Christian Leuz, and Peter Wysocki

Share

IGM Working Papers

PAPERS FROM THE IGM WORKING PAPER SERIES ARE AVAILABLE FOR DOWNLOAD HERE.

Share
chicago booth