Found 12 article(s) for author 'Financial Crises'

Rethinking Stabilization Policy: Evolution or Revolution?

Rethinking Stabilization Policy: Evolution or Revolution? Lawrence Summers, December 2017, “The obvious lesson from the Great Financial Crisis is that the financial system matters and financial crises will probably happen again. The second, more general, lesson is that the economy is often not self-stabilizing. These two lessons, together with an environment where neutral interest rates are likely to remain low, have clear implications for the design of stabilization policies.Link

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Can Index Funds Be a Force for Sustainable Capitalism?

Can Index Funds Be a Force for Sustainable Capitalism? George Serafeim, December 7, 2017, Opinion, “The investment industry is changing. Among other things, there is growing demand from both retail and institutional investors to align their capital with better environmental and social outcomes, and more resources going into index fund or quasi-indexing products. These two trends may seem separate—or, some people believe, incompatible—but together I believe they have the power to improve finance’s role in the world. Index funds can be a force for sustainable capitalism.Link

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The Long and Winding Road to a Haircut

The Long and Winding Road to a Haircut. Carmen Reinhart, November 30, 2017, Opinion, “There are significant differences between Puerto Rico and Venezuela regarding the origins of their economic crises, their political systems, their relationship with the US and the rest of the world, and much else. Nonetheless, some notable similarities are likely to emerge as their debt sagas unfold.Link

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How The Great Recession Changed Economic Thought

How The Great Recession Changed Economic Thought. Edward Glaeser, 2017, Book, “The past three decades have been characterized by vast change and crises in global financial markets—and not in politically unstable countries but in the heart of the developed world, from the Great Recession in the United States to the banking crises in Japan and the Eurozone. As we try to make sense of what caused these crises and how we might reduce risk factors and prevent recurrence, the fields of finance and economics have also seen vast change, as scholars and researchers have advanced their thinking to better respond to the recent crises.Link

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Former U.S. Treasury Secretary Larry Summers On The Economy, Election

Former U.S. Treasury Secretary Larry Summers On The Economy, Election. Lawrence Summers, November 11, 2016, Audio, “Here & Now’s Jeremy Hobson talks with Larry Summers (@LHSummers), former U.S. Treasury secretary and president emeritus of Harvard University, about the economic outlook for Donald Trump’s presidency and the global financial reaction to the election.Link

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Ability to Fight Recession a Matter of Serious Concern

Ability to Fight Recession a Matter of Serious Concern. Lawrence Summers, October 10, 2016, Video, “The concern about low interest rates and the ability to fight off a recession should be keeping central banks up at night, former Treasury Secretary Larry Summers told CNBC on Monday. That’s because interest rates typically come down 500 basis points to contain a recession, and according to market pricing, there’s not going to be 500 basis points of room anytime soon, he said in an interview with “Closing Bell.”Link

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Economics Rules: The Rights and Wrongs of the Dismal Science

Economics Rules: The Rights and Wrongs of the Dismal Science. Dani Rodrik, October 2016, Book, “Rethinking economics, from the inside out. In the wake of the financial crisis and the Great Recession, economics seems anything but a science. In this sharp, masterfully argued book, Dani Rodrik, a leading critic from within, takes a close look at economics to examine when it falls short and when it works, to give a surprisingly upbeat account of the discipline.Link

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Global Cycles: Capital Flows, Commodities, and Sovereign Defaults, 1815-2015

Global Cycles: Capital Flows, Commodities, and Sovereign Defaults, 1815-2015. Carmen Reinhart, January 3, 2016, Paper, “Capital flow and commodity cycles have long been connected with economic crises. Sparse historical data, however, has made it difficult to connect their timing. We date turning points in global capital flows and commodity prices across two centuries and provide estimates from alternative data sources. We then document a strong overlap between the ebb and flow of financial capital, the commodity price super-cycle, and sovereign defaults since 1815. The results have implications for today, as many emerging markets are facing a double bust in capital inflows and commodity prices, making them vulnerable to crises …Link

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Foreword to “A Comparative Study of Two Global Crises”

Foreword to “A Comparative Study of Two Global Crises”. Graham Allison, Lawrence Summers, 2015, Book Chapter. “For the past decade, Liu He has been an influential economist and policy advisor in Beijing. An alumnus of the Harvard Kennedy School (MPA ’95), Liu was a trusted advisor to President Hu Jintao during the global financial crisis of 2008. Since Xi Jinping became president in 2012, he has emerged as Xi’s right-hand man on economic policy. As head of the Office of the Central Leading Group on Financial and Economic Affairs, comparable to the National Economic Council in the United States, Liu frames policy options for the Politburo Standing Committee and has been named in the press as “chief architect” of the major reform program announced at the conclusion of the Third Plenum in November 2013. At the Summit between Presidents Obama and Xi at Sunnylands, Liu was one of two assistants President Xi included in the conversations.Link

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