Pay Curbs May Weaken Bailout

September 29th, 2008
Op-ed The Wall Street Journal – Sept. 29th, 2008 The White House and Congress appear to have reached an agreement on a bailout plan that restricts executive pay at companies that participate in the bailout. The plan limits CEO compensation … Continue reading Go to Item ›

The Financial Crisis: Where Do We Go Now?

September 29th, 2008
Like a monster from an old horror movie, the Treasury plan keeps coming back from the dead. Yes, we are in a financial crisis that needs urgent, determined, and clear-eyed help from the Government. But this plan is fundamentally flawed. … Continue reading Go to Item ›

What’s Happening and What the Government Should Do About It

September 26th, 2008
Some faculty perspectives from the Chicago GSB “lunchroom” Four faculty members from the Chicago GSB’s Initiative on Global Markets chat informally about the latest events in the housing and credit crisis — and about the government’s efforts to deal with … Continue reading Go to Item ›

Fixing the Paulson plan

September 26th, 2008
The Wall Street Journal – Sept. 26th, 2008 The American financial system is in deep trouble. Regulatory moves to guarantee money market funds, the conversion of Morgan Stanley and Goldman Sachs into bank holding companies, and the Treasury’s asset purchase … Continue reading Go to Item ›

Even Desperate Times Need the Right Measures

September 26th, 2008
We have a full blown panic in financial markets. Any but the safest assets are being heavily discounted.  Policy makers have to be thinking in more radical terms than they have done so far to fight the contagion.  But that … Continue reading Go to Item ›

Luigi Zingales on LA NPR Station (September 24)

September 24th, 2008
As opposition mounts to the Treasury Department’s $700 billion behemoth of a banking bailout package the ideas for alternatives are starting to fly fast and furiously around the halls of Congress and beyond. Sen. Chuck Schumer asked why so much … Continue reading Go to Item ›

Let’s Get the Bank Rescue Right

September 24th, 2008
Op-ed The Wall Street Journal – Sept. 24th, 2008 The financial system is the heart of our economy and it is in trouble. If we do not fix it soon, we risk a serious recession. Read more > Go to Item ›

Reject Henry Paulson’s Raw Deal – There’s a Far Better Solution

September 24th, 2008
Op-ed Daily News – Sept. 24th, 2008 Read more > Go to Item ›

The $700 Billion Question

September 23rd, 2008
Anil K Kashyap and Jeremy Stein Op-ed The New York Times – Sept. 23rd, 2008 Henry Paulson, the Treasury secretary, has opened the government checkbook and is poised to spend $700 billion to end the financial crisis. What comes next … Continue reading Go to Item ›

Why Paulson is Wrong

September 23rd, 2008
There are alternatives to a massive government bailout of the U.S. financial industry, according to Luigi Zingales–they just would be more costly for financiers and cheaper for taxpayers. Read more > 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: Brexit: What it Means for Europe and the World

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