Found 1258 article(s) in category 'Economic Growth'

Lawrence Summers on Carbon Dividends, Border Tax, Trade

Lawrence Summers on Carbon Dividends, Border Tax, Trade. Lawrence Summers, June 20, 2017, Video, “Lawrence Summers, Harvard University Charles W. Eliot Professor and Former U.S. Treasury Secretary, discusses carbon dividends, a border adjustment tax, and U.S. trade agreements. He speaks with Bloomberg’s David Westin on “Bloomberg Daybreak: Americas.” (Source: Bloomberg)Link

 

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Financial Systems, Economic Growth, and Globalization in the Era of the Cold War

Financial Systems, Economic Growth, and Globalization in the Era of the Cold War. Niall Ferguson, 2017, Book Chapter, “Financial historians have long been interested in the relationship between financial innovation and economic growth (eg, Rousseau and Sylla 2003). From the rise of the Dutch Republic to the golden age of the pax americana, banks, capital markets, and other…Link

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Identification and Estimation of Dynamic Causal Effects in Macroeconomics

Identification and Estimation of Dynamic Causal Effects in Macroeconomics. James Stock, June 8, 2017, Paper, “An exciting development in empirical macroeconometrics is the increasing use of external sources of as-if randomness to identify the dynamic causal effects of macroeconomic shocks. This approach – the use of external instruments – is the dynamic, macroeconometric counterpart of the highly successful strategy in microeconometrics of using external as-if randomness to provide instruments that identify causal effects. This lecture provides conditions on instruments and control variables under which external instrument methods produce valid inference on dynamic causal effects, that is, structural impulse response function; these conditions can help guide the search for valid instruments in applications.Link

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Harvard Business School Professor Explains the Most Important Problem We Have In Finance Today And How To Fix It

Harvard Business School Professor Explains the Most Important Problem We Have In Finance Today And How To Fix It. Mihir Desai, June 5, 2017, Video, “Mihir Desai, a professor of Harvard Business School and the author of “Wisdom of Finance” explains why having shareholders who are separate from the managers hold great danger for finance today. Following is a transcript of the video.Link

 

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Lawrence Summers on U.S. Leadership, Infrastructure

Lawrence Summers on U.S. Leadership, Infrastructure. Lawrence Summers, June 5, 2017, Video, “Harvard University Charles W. Eliot Professor Lawrence Summers discusses the United States’ global leadership under President Donald Trump, CEOs support for President Trump, and the prospect of U.S. infrastructure spending. He speaks on “Bloomberg Daybreak: Americas.” (Source: Bloomberg)Link

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A Tax Cut Might Be Nice. But Remember the Deficit

A Tax Cut Might Be Nice. But Remember the Deficit. N. Gregory Mankiw, June 2, 2017, Opinion, “In the debate about federal tax policy, one question looms large: Should we have a tax cut that increases the budget deficit? President Trump says he wants “a massive tax cut … maybe the biggest tax cut we’ve ever had.” But the Senate majority leader, Mitch McConnell, who is clearly worried about the growing national debt, says tax reform “will have to be revenue-neutral.” The stage is set for another Republican showdown.” Link

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Appraising the Economic Potential of Panama Policy Recommendations for Sustainable and Inclusive Growth

Appraising the Economic Potential of Panama Policy Recommendations for Sustainable and Inclusive Growth. Ricardo Hausmann, 2017, Paper, “This report aims to summarize the main findings of the project as gathered by the three baseline documents, and frame them within a coherent set of policy recommendations that can help Panama to maintain their growth momentum in time and make it more inclusive. Three elements stand out as cornerstones of our proposal: (i) attracting and retaining qualified human capital; (ii) maximizing the diffusion of know-how and knowledge spillovers, and (iii) leveraging on public-private dialog to tackle coordination problems that are hindering economic activity outside the Panama-Colón axis.Link

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The Harvard Research Center in Entrepreneurial History and the Daimonic Entrepreneur

The Harvard Research Center in Entrepreneurial History and the Daimonic Entrepreneur. Sophus Reinert, 2017, Paper, “This paper sketches the intellectual history of the Research Center in Entrepreneurial History, founded at Harvard in 1948, which helped established the contours of business history as a discipline. This history was shaped by the rivalry between N. S. B. Gras, the “father of business history,” and Arthur H. Cole, which defined still extant polarities in the field of business history. It provides context for the emergence of the figure of the “entrepreneur,” conceived of as an ambiguous and potent force of creative destruction, and of entrepreneurship as business history’s preeminent and vital dynamic. The paper focuses on German émigré Fritz L. Redlich, who was central to the Center’s work, and whose “creative entrepreneur” was conceived in explicit relation to the daimon, the godlike, frighteningly ambiguous, and often destructive power of inspiration and creativity.Link

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The Hazards of Expert Control: Chief Risk Officers and Risky Derivatives

The Hazards of Expert Control: Chief Risk Officers and Risky Derivatives. Frank Dobbin, May 31, 2017, Paper, “At the turn of the century, regulators introduced policies to control bank risk-taking. Many banks appointed chief risk officers (CROs), yet bank holdings of new, complex, and untested financial derivatives subsequently soared. Why did banks expand use of new derivatives? We suggest that CROs encouraged the rise of new derivatives in two ways. First, we build on institutional arguments about the expert construction of compliance, suggesting that risk experts arrived with an agenda of maximizing risk-adjusted returns, which led them to favor the derivatives. Second, we build on moral licensing arguments to suggest that bank appointment of CROs induced “organizational licensing,” leading trading-desk managers to reduce policing of their own risky behavior.Link

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What history tells us about Trump’s budget fantasy

What history tells us about Trump’s budget fantasy. Lawrence Summers, May 30, 2017, Opinion, “At the risk of beating a dead horse, here are some thoughts on the Trump administration’s 3 percent growth forecast. Zero interest rates seemed inconceivable 15 years ago, and yet they happened. Almost no one forecast the productivity boom that took place in the United States between 1995 and 2005 or the magnitude of the 2008 financial crisis. So any statement that a given forecast is inconceivable is unwarranted.Link

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