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Banking Regulation: Closed for Business
The American Prospect, April 24, 2013. All Rights Reserved. Satisfied with the meager reforms of the Dodd-Frank financial-reform bill, the Treasury is standing in the way of further efforts to rein in mega-banks. These are heady times for the bipartisan group of reformers seeking a safer and more manageable U.S. financial system. The leaders of this […] -
Narayana Kocherlakota at 2013 Minsky Conference
For video excerpts from Minneapolis Fed President Narayana Kocherlakota’s speech "Low Real Interest Rates," presented at the Levy Institute’s 22nd Annual Minsky Conference in New York on April 18, click here. Includes audience and press Q&A. -
MME, April 22, 2013
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Αυτό το «πακέτο» μπορούσαμε να το αποφύγουμε
Katherimerini, 22 Aπριλίου 2013. Με επιφύλαξη παντός δικαιώματος. Οι τέσσερις κοινές ερωτήσεις 1 Μπορούσε η Ελλάδα να έχει αποφύγει το Μνημόνιο; 2 Με ποιον διαφορετικό τρόπο θα είχαμε αντιμετωπίσει την κρίση χρέους; 3 Ποια ήταν τα βασικά λάθη στην κατασκευή της πολιτικής του Μνημονίου και τι θα μπορούσε να έχει γίνει διαφορετικά στην εκτέλεσή του; […] -
Is the Fed’s Medicine Really Poison?
Bloomberg View, April 22, 2013. All Rights Reserved. It’s not every day that a central banker admits that his medicine for curing the last crisis may be laying the groundwork for the next. But that’s exactly what Narayana Kocherlakota, President of the Federal Reserve Bank of Minneapolis, said last week at the annual Hyman P. […] -
Economists Slow to Detect Dodgy Data
The Age (Melbourne), April 21, 2013. All Rights Reserved. If we needed more evidence that economics is not a science, we have it now. A shock wave hit the economics world this week when two of its most famous practitioners—Kenneth Rogoff and Carmen Reinhart—were found to have produced some very dodgy data to support their […] -
There’s No Need for All This Economic Sadomasochism
The Guardian, April 21, 2013. All Rights Reserved. If Reinhart and Rogoff’s ‘error’ has discredited the prevailing policy dogma, now is the time for an alternative that works The intellectual justification for austerity lies in ruins. It turns out that Harvard economists Carmen Reinhart and Ken Rogoff, who originally framed the argument that too high […] -
Public Policy Brief No. 128From Safety Nets to Economic Empowerment
Social protection systems comprise public policies designed to prevent or alleviate economic insecurity and poverty. Throughout the developing world, social protection strategies and the dialogue surrounding them have recently been undergoing an important evolution. In this policy brief, Senior Scholar and Director of the Gender Equality and the Economy program Rania Antonopoulos highlights the opportunities […] -
Public Policy Brief No. 128
Από τα δίχτυα ασφαλείας στην οικονομική ενδυνάμωση
Τα προγράμματα κοινωνικής προστασίας περιλαμβάνουν δημόσιες πολιτικές που είναι σχεδιασμένες για να εμποδίσουν ή να απαλείψουν την ανασφάλεια και τη φτώχεια. Σε όλο τον αναπτυσσόμενο κόσμο, οι στρατηγικές κοινωνικής προστασίας και ο διάλογος γύρω από αυτές εξελίσσονται ραγδαία. Στο παρόν κείμενο πολιτικής, η Ράνια Αντωνοπούλου, Senior Scholar και διευθύντρια του προγράμματος για την ισότητα των […] -
There Could Still Be Runs on the Money Market Funds
Forbes, April 20, 2013. All Rights Reserved. The President of the Federal Reserve Bank of Boston, Erick Rosengren, suggested this week that there could still be runs on money market mutual funds, as took place at the peak of the 2008 financial crisis, since these funds have “no capital” and invest in uninsured short term […] -
The Wealthiest 20% Own 72%; The Poorest 20% Only 3%
Forbes, April 19, 2013. All Rights Reserved. The growing disparity in wealth made the great recession worse and the recovery weaker than ever before. This nation’s wealth disparity widened more than ever before over the last five years because of the steep decline in the value of residential homes and stagnant wages for the lower […] -
Treasury’s Miller: No Banks Will Be Bailed Out
MarketWatch, April 19, 2013. All Rights Reserved. WASHINGTON (MarketWatch) – No financial institution, regardless of its size, will be bailed out by taxpayers again, Treasury Undersecretary for Domestic Finance Mary Miller said Thursday. As a result of the Dodd-Frank bank regulatory reform, "shareholders of failed companies will be wiped out; creditors will absorb losses; culpable […]