Fault Lines and Global Finance: an Interview with Raghuram Rajan

January 19th, 2011
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Raghuram Rajan discusses the global financial crisis and his new book — Fault Lines: How Hidden Fractures Still Threaten the World Economy — on the Bloomberg on the Economy program.

Listen now Part 1 and Part 2

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Faculty Panel on Budget Options for the U.S.

January 11th, 2011

Myron Scholes Forum, January 10, 2011

Professors Steven DavisJohn Huizinga, and Harald Uhlig discussed the choices the United States faces in trying to fix our long-term federal budget problems. The faculty explored the tradeoffs of adjusting taxes

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A Macroprudential Approach to Financial Regulation

November 23rd, 2010
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Anil Kashyap, Samuel G. Hanson, and Jeremy C. Stein

In a new IGM working paper, Samuel Hanson, Anil Kashyap and Jeremy Stein analyze options for regulating the financial system. They define this challenge as trying “to control the social costs

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The Economic Take-off of Latin America

Sebastian Edwards November 23rd, 2010

Myron Scholes Forum, November 17, 2010

In Left Behind, Sebastian Edwards explains why the nations of Latin America have failed to share in the fruits of globalization and forcefully highlights the dangers of the recent turn to economic populism

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The End of Wall Street

Roger Lowenstein November 9th, 2010

Myron Scholes Forum, October 12, 2010

Roger Lowenstein talked about his experiences in researching and writing The End of Wall Street (about the 2008 collapse), and offered his perspective on the causes and enduring legacy of the crash, including the

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What Can Economics Tell Us About Development?

Robin Burgess November 9th, 2010

Myron Scholes Forum, September 27, 2010

How the economic lives of citizens living in the world’s poorest countries can be improved is one of the big questions facing humanity today. Burgess talked about how economics can be used to study

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A New Approach to Global Reporting Convergence

Christian Leuz April 14th, 2010
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International Financial Reporting Standards (IFRS) are set to become the global accounting language. Empirical evidence suggests, however, that IFRS adoption alone will not lead to global convergence of reporting practices, and will not make comparing companies’ financial statements as easy

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5 Facts about Climate Policy: Cause for a Shift in Policy?

Michael Greenstone March 12th, 2010

Myron Scholes Forum, March 4th, 2010

Professor Michael Greenstone of MIT discusses the various and numerous challenges that face the global economy in light of the Copenhagen Climate Conference of 2009.

Watch video>

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Faculty Panel: “The Euro in Crisis”

February 24th, 2010

Myron Scholes Forum, February 22, 2010

The recent decision by European governments to bail out Greece has raised questions about the viability of the single currency area in Europe. Professors John Cochrane, Roger Myerson, and Luigi Zingales will

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Faculty Panel on Ethics

Faculty Panel January 13th, 2010

Myron Scholes Forum, January 11, 2010

Professors Steven Kaplan, Tobias Moskowitz, and Luigi Zingales discuss the ethics and the role of ethics on Wall Street, in the past, the present, and going into the future.

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Myron Scholes Forum, January 11, 2010

Professors Steven Kaplan, Tobias Moskowitz, and Luigi Zingales discuss the ethics and the role of ethics on Wall Street, in the past, the present, and going into the future.

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View Kaplan slides>
View Moskowitz slides>

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Financial Trust Index

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

Visit the Financial Trust Index Site

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Scholes Forum: Dazed and Confused: Making Sense of Western Politics (And Consumers)

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

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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

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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.

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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

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IGM Working Papers

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

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