Cadillac Tax

May 17th, 2016
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This week’s IGM Economic Experts Panel statement:

The “Cadillac tax” on expensive employer-provided health insurance plans will reduce costly distortions in US health care if it is allowed to take effect as scheduled in 2018.

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Instability in a Monetary Economy

Lord Adair Turner May 12th, 2016

Myron Scholes Forum, May 9, 2016

Lord Adair Turner, Chairman of the Institute for New Economic Thinking

Why has the financial crisis of 2008 cast such a long shadow, with global economic recovery so slow and weak? Why is

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Breaking Up Banks

May 3rd, 2016
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This week’s IGM Economic Experts Panel statements:

The four largest domestic US banks currently have around 40% of the industry’s domestic assets (an average of 10% each). In early 1998, before Glass-Steagall ended and before Citicorp merged with Travelers, they

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The Global Decline in the Labor Share

Brent Neiman April 28th, 2016

Myron Scholes Forum, April 20, 2016

Brent Neiman, Associate Professor of Economics, University of Chicago Booth School of Business

The share of total income paid as compensation to labor – the labor share – has been declining all around

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Bureau of Labor Statistics

April 12th, 2016
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This week’s IGM Economic Experts Panel statements:

A) By providing important measures of US economic performance — including employment, consumer prices, wages, job openings, time allocation in households, and productivity — the Bureau of Labor Statistics creates social benefits that

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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: Instability in a Monetary Economy

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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