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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The Hidden Influences Behind How Sports are Played and Games are Won

Tobias Moskowitz February 18th, 2011

Myron Scholes Forum, February 16, 2011

At Chicago Booth, we know that just because people say something or believe it doesn’t make it so. We look at both theory and data to gain insight that either confirms or challenges existing

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How to Regulate the Capital and Corporate Structures of Banks?

John Vickers January 25th, 2011

John Vickers, Chairman of the United Kingdom’s Independent Commission on Banking, recently spoke at the conference “Regulating Financial Intermediaries – Challenges and Constraints”, co-sponsored by the IGM.

Read speech>

The full agenda for the conference can be found here.

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Fault Lines and Global Finance: an Interview with Raghuram Rajan

January 19th, 2011

Raghuram Rajan discusses the global financial crisis and his new book — Fault Lines: How Hidden Fractures Still Threaten the World Economy — on the Bloomberg on the Economy program.

Listen now Part 1 and Part 2

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Faculty Panel on Budget Options for the U.S.

January 11th, 2011

Myron Scholes Forum, January 10, 2011

Professors Steven DavisJohn Huizinga, and Harald Uhlig discussed the choices the United States faces in trying to fix our long-term federal budget problems. The faculty explored the tradeoffs of adjusting taxes

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Best Prices

January 6th, 2011

Anil K Kashyap and Judith A. Chevalier

In a new IGM working paper, Anil Kashyap and Judith Chevalier explore the role of strategic price-discrimination by retailers for price determination and inflation dynamics. They model two types of customers, “loyals” who

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Fiscal Stimulus, RIP

November 23rd, 2010

Was “fiscal stimulus” the central idea that saved us from a second great depression, with our only regret that is was not bigger? Or is this an old fallacy, tried and failed, and ready finally for the ash-heap of history?

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A Macroprudential Approach to Financial Regulation

November 23rd, 2010

Anil Kashyap, Samuel G. Hanson, and Jeremy C. Stein

In a new IGM working paper, Samuel Hanson, Anil Kashyap and Jeremy Stein analyze options for regulating the financial system. They define this challenge as trying “to control the social costs

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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: Dazed and Confused: Making Sense of Western Politics (And Consumers)

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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