News and Upcoming Events
Wednesday, Oct. 24: Annual Glauber Lecture: Reinforcing Financial Stability in a Crumbling International Order. Sir Paul Tucker, M-RCBG research fellow and chair, Systemic Risk Council. (JFK Jr. Forum, 6pm)
Thurs. Nov. 1: Expecting the Unexpected: Emissions Uncertainty and Environmental Market Design. Severen Borenstein, Energy Institute at Haas, UC Berkeley. (Bell, 11:45am-1pm)
Thurs. Nov. 8: Globalists: The End of Empire and the Birth of Neoliberalism. Quinn Slobodian, Wellesley College. (Bell, 11:45am-1pm)
Currency Manipulation Isn't Among China's Trade Sins. Jason Furman, Wall Street Journal
Is the US forgetting the wars in Iraq and Afghanistan? Linda Bilmes, The Boston Globe
Puerto Rico Needs a Better Debt Deal. Antonio Weiss, Bloomberg
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.
"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."
Jeffrey Frankel
James W. Harpel Professor of Capital Formation and Growth
Related: What does Trump want in his on again, off again trade war?
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