Found 167 article(s) for author 'Kenneth Rogoff'

The Case for Implementing Effective Negative Interest Rate Policy

The Case for Implementing Effective Negative Interest Rate Policy. Kenneth Rogoff, April 24, 2019, Paper, “This paper explores the case for gradually instituting the changes necessary to implement unconstrained negative interest rate policy as a long-term solution to the zero bound on interest rates (or more precisely the near zero effective lower bound.) We shall argue that if negative interest rate policy can be implemented, it would be by far the most elegant and stable long-term solution to the severe limits on monetary tools that have emerged since the financial crisis. Admittedly, the question of how to resuscitate monetary policy is of more immediate relevance in Europe and Japan, where interest rates are already at the effective zero lower bound (in many cases mildly negative) a decade after the global financial crisis, and more than two decades after Japan’s financial crisis. But even the United States is likely to face severe constraints in the event of another financial crisis, possibly even in a deep recession.Link

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Chinese slowdown impact: Here’s what experts have to say

Chinese slowdown impact: Here’s what experts have to say. Kenneth Rogoff, March 8, 2019, Video, “The Chinese Premier Li Keqiang, China’s second most powerful man, next to Xi Jinping, this week warned his country’s highest lawmaking body that the country will face a more complicated environment and grave risks and challenges. Addressing the National People’s Congress, he set the country’s economic growth at 6 to 6.5 percent this year, just a shade lower than the 6.6 percent it achieved in 2018. He also promised lower taxes and fewer burdens on the private sector. So, should the world read this warning as an indication of deeper troubles for the Chinese economy or should one be confident that China can deliver a 6 percent plus growth this year? And what does a slightly slowing China mean to the world economy?Link

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Modern Monetary Nonsense

Modern Monetary Nonsense. Kenneth Rogoff, March 4, 2019, Opinion, “A number of leading progressive US politicians advocate using the Federal Reserve’s balance sheet to fund expansive new government programs. Although their arguments have a grain of truth, they also rest on some fundamental misconceptions, and could have unpredictable and potentially serious consequences.Link

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China’s economy shows signs of slowdown, Harvard economist says

China’s economy shows signs of slowdown, Harvard economist says. Kenneth Rogoff, February 25, 2019, Video, “The U.S. economy is doing “pretty well” right now, but Harvard University Economics Professor Kenneth Rogoff says the rest of the world, especially China, has problems. “There’s a slow patch in the global economy — I think China’s more than a slow patch,” he said during an interview on FOX Business’ “Mornings with Maria” on Monday. “It may have a soft landing, but it will be onto a downward slope. Centralizing power doesn’t work in trying to have a productive economy.”Link

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Financial Stability in Abnormal Times

Financial Stability in Abnormal Times. Kenneth Rogoff, February 5, 2019, Opinion, “Despite improvements in the financial system since the 2008 crisis, the piecemeal reforms that have been enacted fall far short of what is needed. And an inexorably growing financial system, combined with an increasingly toxic political environment, means that the next major financial crisis may come sooner than you think.Link

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The next financial crisis may come soon – are we all that safe?

The next financial crisis may come soon – are we all that safe? Kenneth Rogoff, February 5, 2019, Opinion, “A decade on from the 2008 global financial crisis, policymakers constantly assure us that the system is much safer today. The giant banks at the core of the meltdown have scaled back their risky bets, and everyone – investors, consumers, and central bankers – is still on high alert. Regulators have worked hard to ensure greater transparency and accountability in the banking industry. But are we really all that safe?Link

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Rogoff Says World Lacks an `A-Team’ to Deal With a New Financial Crisis

Rogoff Says World Lacks an `A-Team’ to Deal With a New Financial Crisis. Kenneth Rogoff, January 23, 2019, Video, “Harvard Professor Kenneth Rogoff discusses the U.S. government shutdown and the global financial industry’s preparedness for a crisis. He also discusses Brexit and China’s slowdown at the World Economic Forum’s annual meeting in Davos, Switzerland, on “Bloomberg Surveillance.” Link

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Harvard’s Rogoff explains why China has become a ‘problem place’

Harvard’s Rogoff explains why China has become a ‘problem place’. Kenneth Rogoff, January 22, 2019, Video, “Kenneth Rogoff, public policy and economics professor at Harvard, thinks China is becoming a real problem. “If we want to talk about a problem place, it’s China. It’s clearly China,” Rogoff told Yahoo Finance at the World Economic Forum in Davos, Switzerland. “There’s a slowdown going on in China that’s not demand driven. It’s a slowdown coming from the fact that they’re having a productivity slowdown.” Link

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Risks to the Global Economy in 2019

Risks to the Global Economy in 2019. Kenneth Rogoff, January 11, 2019, Opinion, “Over the course of this year and next, the biggest economic risks will emerge in those areas where investors think recent patterns are unlikely to change. They will include a growth recession in China, a rise in global long-term real interest rates, and a crescendo of populist economic policies.Link

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