News and Upcoming Events


Slobodian.jpgThurs. Nov. 15: Cost-Benefit Analysis of Tax Regulations: A Case Study. David Weisbach, University of Chicago Law School. (Bell, 11:45am-1pm)


nancyroseThurs. Nov. 29: Reinvigorating Competition Policy. Nancy Rose, MIT. (Bell, 11:45am-1pm)


nancyroseRichard Zeckhauser honored for 50 years of teaching at Harvard. Click here for coverage.


debgordon.jpgThe false promise and limitations of pre-tax health accounts. Deborah Gordon and Anna Ford, The Hill


summers.jpgFed bashing is a fool's game. Larry Summers, Financial Times


le correExposing China's Overseas Lending. Carmen Reinhart, Project Syndicate


Read the Center's Fall 2018 newsletter here (PDF)

After the financial crisis, countries around the world significantly expanded the objectives and powers of central banks. As central banks have acquired more powers, the trade-off between independence and accountability has become more complex and as a result, the pre-crisis academic consensus around central bank independence has broken down and popular discontent towards central banks is growing. Ed Balls, James Howat and Anna Stansbury have co-authored a working paper, Central Bank Independence Revisited: After the financial crisis, what should a model central bank look like?

Paul Tucker, M-RCBG research fellow and chair of the Systemic Risk Council will also be speaking on this topic at the Annual Robert Glauber Lecture on October 24, 2018: Reinforcing Financial Stability in a Crumbling International Order.

Quote

"Given massive global corporate debt and a soaring US stock market--the cyclically adjusted price-to-earnings ratio is high by historical standards--one possible trigger for a downturn in the coming years is a negative shock that could send securities tumbling."

Content

Jeffrey Frankel
James W. Harpel Professor of Capital Formation and Growth

Read more

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Related: What does Trump want in his on again, off again trade war?

 


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