Monthly Archives: October 2018
A skeptical review of the QEs – why they might not be powerful as some thought?
In their working paper "A Skeptical View of the Impact of the Fed's Balance Sheet," economists David Greenlaw, James D. Hamilton, Ethan Harris, and Kenneth D. West challenge some earlier studies that concluded QEs have a significant economic impact. Their major argument is that those research used simple event studies to quantify the impact of QE.
QE: A User’s Guide | #FurtherDiscussed
In a recent policy research, Joseph Gagnon of Peterson Institute for International Economics and Brian Sack of D.E. Shaw Group asked an important question: when the Federal Reserve implement QE in the next crisis, should they use it somewhat differently?
BIS’s latest hunt for Zombie (firms)
In the latest BIS Quarterly Review, researchers Ryan Banerjee and Boris Hofmann consolidated some of the earlier research to illustrate the problem of zombie firms. They argued that the rise of zombies predated the 2008 financial crisis, and has since been dragging down the productivity of the real economy.
Interviews
The Disappointments with Post-Great Recession Macroeconomics | Q&A with Kocherlakota |
Welcome to the latest installment of our interview series “Where is the General Theory of the 21st Century?”“Where is the General Theory of the...
Why Yellen should have stayed as Fed Governor? | Interview with Conti-Brown
Peter Conti-Brown, author of one of the best book about the institution of Fed, "The Power and Independence of the Federal Reserve", explains what Jay Powell's nomination means to the Fed independence and why Janet Yellen should have stay as governor after his Chair term ended.
Global Inequality and Kuznets Waves | Q&A with Branko Milanovic |
Welcome to the latest installment of our interview series “Where is the General Theory of the 21st Century?”“Where is the General Theory of the...
Politics and the Economics of Banking Crises | Q&A with Charles Calomiris |
In this installment, we continue our discussion with Prof. Charles Calomiris, Henry Kaufman Professor of Financial Institutions at Columbia Business School. The topic of this installment is the missing role of politics in economics models of banking crises. We also discussed if Calomiris thinks macroeconomics has a similar problem.