Luigi Zingales Speaks on Bloomberg’s “Surveillance Midday”

August 15th, 2011

Luigi Zingales, speaking with Tom Keene of Bloomberg Television’s “Surveillance Midday” on August 12th, 2011, discussed the U.S. and European sovereign debt, financial market volatility, and the U.S. housing market.

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Tax Trio Would End Euro Arson

July 28th, 2011

by Luigi Zingales and Roberto Perotti

The latest effort by European policy makers to contain the debt crisis offers only temporary relief for the euro area. The involvement of private creditors is a step in the right direction, though it

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US Default Would Spell Turmoil for the Repo Market

July 28th, 2011

by Darrell Duffie and Anil Kashyap

The possibility of a US government default or credit rating downgrade has everyone asking what either would mean. One source of concern is the potential impact on the use of treasury securities as collateral.

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How to Contain the European Debt Crisis

July 20th, 2011

Anil K Kashyap and Francesco Giavazzi

With Italy now paying the same rates as Spain to finance its debt, the European crisis has reached a critical stage.

To prevent the possible demise of the single currency, the European Union now

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Europe’s Greek Stress Test

and June 17th, 2011

Greek debt is in trouble—again. After a month of dickering, it seems likely that the International Monetary Fund and the European Union will agree to roll over Greece’s debt so bondholders will be paid in full. Why is Europe so

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The Future of Economic Governance in the Euro Area: Quo Vadis?

Axel Weber June 2nd, 2011

Myron Scholes Forum, May 25, 2011

Axel Weber, Visiting Professor of Economics at Chicago Booth, discussed the future of economic governance in the Euro Area.

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Blackboard Monopolists

and May 11th, 2011

Improving education remains one of the clearest ways that governments can make a lasting positive economic impact. A well-functioning education system is the most effective way to help equip people with the knowledge and skills they need to boost incomes

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What Are the Economic Consequences of the Japanese Disaster?

March 22nd, 2011

by Anil Kashyap and Takeo Hoshi
Freakonomics Blog; March 22nd, 2011

On March 11, an earthquake of magnitude 9.0 hit the Pacific coast side of the Tohoku area in Japan. Subsequent aftershocks, tsunamis and breached safety mechanisms at nuclear

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Holding the Bank of Japan Accountable

March 10th, 2011

by Takeo Hoshi and Anil Kashyap
Wall Street Journal; March 9th, 2011

The Wall Street Journal asked eight prominent economists who follow Japan to critique the Bank of Japan’s monetary policy record, after BOJ Governor Masaaki Shirakawa gave an

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Critical Dialogues: Fault Lines in the Global Economy

and March 4th, 2011

Chicago Booth Magazine’s “Critical Dialogues” is a series of conversations with members of the Chicago Booth community who play key roles in shaping business and economic policy worldwide. This discussion features professor Raghuram Rajan, former economic counselor of the International

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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: Brexit: What it Means for Europe and the World

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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