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Author(s)
Year
2015
This paper reviews some of the most prominent asset price bubbles from the past 400 years and documents how central banks (or other institutions) reacted to those bubbles. The historical evidence suggests that the emergence of bubbles is often preceded or ...
Alan Blinder
2014
Correspondingly, my evaluations of the Federal Reserve’s policy actions are dramatically different pre- and post- Lehman Day. In brief, the Fed deserves mixed but rather poor grades for the years and days leading up to (and including) the fateful Lehman ...
2014
Seit der Finanz- und Wirtschaftskrise ist die Staatsverschuldung einiger Euroländer so stark gestiegen wie nie zuvor. Und eine glaubhafte Konsolidierungsstrategie ist nicht in Sicht. Im Gegenteil, vermehrt wird sogar eine Lockerung der Sparpolitik ...
2014
In a world with self-generated, endogenous risk and time-varying risk premia, price stability and financial stability are inseparable. A monetary analysis based on the distribution of liquidity mismatch across sectors provides valuable information about ...
Alan Blinder
2014
The worst financial crisis since the 1930s changed academic, financial, regulatory, and political thinking in many ways. One is the realization that we allowed (or maybe even enabled) financial market participants to construct a system that was amazingly ...
Marc Fleurbaey
2014
ABSTRACT: An early death is, undoubtedly, a serious disadvantage. However, the compensation of short-lived individuals has remained so far largely unexplored, probably because it appears infeasible. Indeed, short-lived agents can hardly be identified ex ...
Atif Mian
2013
I highlight the financial market risks faced by the U.S. middle class using the 2007-2009 financial crisis as an example. The 2007-09 financial crisis disproportionately affected the middle class due to three distinct channels. First, the wealth losses ...
Alan Blinder
2013
Alan Blinder June, 2013 The Great Inflation, ed. Michael Bordo and Athanasios Orphanides; University of Chicago Press; NBER Conference Report Finance Macroeconomics Monetary and Macroeconomic Policy http://press.uchicago.edu/ucp/books/book/chicago/G ...
Alan Blinder
2013
Alan Blinder January, 2013 The Penguin Press; ISBN:9721594205309 Finance Macroeconomics Monetary and Macroeconomic Policy http://www.us.penguingroup.com/nf/Book/BookDisplay/0,,9781594205309,00.html?strS... ...
2012
This chapter surveys the literature on bubbles, financial crises, and systemic risk. The first part of the chapter provides a brief historical account of bubbles and financial crisis. The second part of the chapter gives a structured overview of the ...
Harold James
2012
A new sensitivity to the significance of historical experience has developed since the 2007 financial crisis. There are three possible ways of drawing on the past: as a source of advice on policies, of patterns of past evolution, of multiple possibilities ...
Harold James
2012
Europe’s financial crisis cannot be blamed on the Euro, Harold James contends in this probing exploration of the whys, whens, whos, and what-ifs of European monetary union. The current crisis goes deeper, to a series of problems that were debated but not ...
Alan Blinder
2012
To me, close cooperation between the central bank and the Treasury in a crisis is both inevitable and desirable. And in this particular crisis, it was both essential and salutary. The trick is how and when the Treasury and the central bank disengage after ...
2012
Liquidity and deflationary spirals self-generate endogenous risk and redistribute wealth. Monetary policy can mitigate these effects and help rebalance wealth after an adverse shock, thereby reducing endogenous risk, stabilizing the economy, and ...
2012
The aim of this paper is to conceptualize and design a risk topography that outlines a data acquisition and dissemination process that informs policymakers, researchers and market participants about systemic risk. Our approach emphasizes that systemic ...
Harold James
2012
We discuss three well known plans that were offered in the twentieth century to provide an artificial replacement for gold and key currencies as international reserves: Keynes’ Bancor, the SDR and the Ecu(predecessor to the euro).The latter two of these ...
2012
This paper documents that banks with higher non-interest income (noncore activities like investment banking, venture capital and trading activities) have higher contribution to systemic risk than traditional banking (deposit taking and lending). After ...
Alan Blinder
2010
Alan Blinder December, 2010 International Journal of Central Banking Finance Macroeconomics Monetary and Macroeconomic Policy http://www.ijcb.org/journal/ijcb10q4a13.htm ...