Clark Center Forum

Economist.com; Economist Debates In answer to the question: “Are we all Keynesians again? If not, should we be?” Professors Luigi Zingales and Brad DeLong argue opposing sides of issue in Tuesday, March 10th’s live debate on the Economist.com. Read statements> 

Anil K Kashyap and Frederic Mishkin FT.com Opinion, March 3, 2009 Last week, President Barack Obama asked Congress to move swiftly to create a new financial regulatory system for the US. The system is clearly broken, and fixing it should be a high priority. However, moving swiftly to put in place a new regulatory system […] 

February 25, 2009 Kedran Panageas from JP Morgan Chase gave the Booth finance faculty a very informative presentation on the “Decline and Fall of Securitization Markets”.  At the suggestion of several faculty, we thought the presentation might be of general interest to the readers of the IGM blog. View pdf> 

IGM, Global Market Series, number 1 This report is the first of the Global Market Series, which will focus on timely subjects in international business, financial markets, and public policy. Reports in this series will combine insights from scholarly research with other valuable ideas and analysis from other sources. The Initiative on Global Markets, at […] 

Eric A. Posner and Luigi Zingales *UPDATED* The housing crisis threatens to destroy hundreds of billions of dollars of value by causing homeowners with  negative equity to walk away from their houses. A house in foreclosure is worth 30 to 50 percent less than a house that a homeowner either retains or sells on the […] 

The Squam Lake Working Group on Financial Regulation is a nonpartisan, nonaffiliated group of fifteen academics who have come together to offer guidance on the reform of financial regulation. Four Chicago Booth Faculty (John Cochrane, Douglas Diamond, Anil Kashyap and Raghuram Rajan) are members. The group’s first memo describing a “New Information Infrastructure for Financial […] 

Pietro Veronesi and Luigi Zingales City Journal – February 19, 2009 In spite of great expectations, the Financial Stability Plan that Treasury secretary Tim Geithner presented last Tuesday was short on details. Its biggest innovation was a way for the government to persuade private investors to buy toxic assets from banks. The investors would have […] 

Interview with Raghuram Rajan NPR’s Morning Edition; February 18th, 2009 As the government attempts to stabilize the nation’s financial system, officials must decide whether to continue to prop up banks as private entities, nationalize them or shut them down. NPR’s Ari Shapiro asked economist Raghuram Rajan of the University of Chicago Booth School of Business […] 

Douglas Diamond, Anil Kashyap, and Raghuram Rajan Freakanomics Blog – February 12, 2009 Timothy Geithner has announced his intention of making a full-scale attack on the nation’s banking problems. Clearly, the objective of making banks willing to lend again — with them paying due, but not excessive, attention to risks — is the right one. […] 

Paola Sapienza and Luigi Zingales 2.25 million foreclosures were filed last year and at least 1.7 million are expected this year. This dramatic housing crisis is at the origin of the current financial and economic woes our country is experiencing. But if you were to look at Washington, you would hardly notice. Last February, Senator […]