Banking reform in Britain and Europe

John Vickers October 3rd, 2013

Myron Scholes Forum, October 2, 2013

John Vickers, Warden of All Souls College, Oxford University

John Vickers examined banking reform initiatives five years on from the crisis, with a focus on Britain and the rest of Europe. How far

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Airline Mergers

August 28th, 2013

This week’s IGM Economic Experts Panel statement:

If regulators had not approved mergers in the past decade between major networked airlines, travelers would be better off today.

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Website working smoothly (IGM Forum)

June 27th, 2013

We would like IGM Forum visitors who had trouble accessing our site last week to know that it is now working smoothly again. A temporary Google blacklist prevented many readers from accessing the site. Google has since rechecked our site,

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The Euro Crisis

Hans-Werner Sinn April 16th, 2013

Myron Scholes Forum, April 10, 2013

Hans-Werner Sinn, Professor of Economics and Public Finance at the University of Munich (LMU) and president of the Ifo Institute

The European Monetary Union is currently experiencing a serious internal balance-of-payment crisis. The

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The Coming Crisis in Japan

Kyle Bass March 7th, 2013

Myron Scholes Forum, March 6, 2013

Kyle Bass, founder and principal of Hayman Capital Management, LP.

Kyle Bass describes why he sees a looming economic crisis for Japan. Bass has previously predicted and profited from the collapse of the

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Deconstructing the 2012 Elections

Nate Silver February 18th, 2013

Myron Scholes Forum, February 15, 2013

Nate Silver, founded FiveThirtyEight.com.

Nate Silver is a statistician and political forecaster for The New York Times; he became a national sensation in the United States when his predictions during the 2008

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Asset Quality Misrepresentation by Financial Intermediaries: Evidence from RMBS Market

Amit Seru February 15th, 2013

Market rules and regulations that require disclosure of information and prohibit misleading statements on the financial products being manufactured by intermediaries play an important role in the functioning of capital markets. However, the nature of intermediation has changed dramatically over

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Lessons Learned from HAMP

Amit Seru February 12th, 2013

The Home Affordable Modification Program, unveiled in early 2009 by the Obama administration, provided sizeable financial incentives to mortgage servicers. A systematic study of the HAMP provides important lessons for both the future design of mortgage finance and the assessment

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What Do Economists Think about Major Public Policy Issues?

January 10th, 2013

See a discussion of the IGM economic experts panel, examining how much economists agree and disagree on major issues and comparing economists’ views with those of the general public. This video features original research by Gordon Dahl and Roger

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Red Ink: Inside the High Stakes Politics of the Federal Budget

David Wessel December 4th, 2012

Myron Scholes Forum, November 28, 2012

David Wessel, economics editor, The Wall Street Journal.

In a sweeping narrative about the people and the politics behind the budget, Wessel looks at the 2011 fiscal year (which ended September 30)

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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: Productivity Growth Is Slower Than You Think

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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