Central banks

How Inequality Hurts the Economy and Complicates Policy Responses to the Pandemic

In the years leading up to the pandemic, rising inequality created a saving glut of the rich which pushed down interest rates...

In Chile, It Is Always the Banks That Decide the Direction of Politics

Chile's government announced it would deliver $24 billion in state-guaranteed loans through the financial system to save companies at risk of bankruptcy due to the...

Covid-19, Central Banks, and Debt Monetization: a Webinar With Olivier Blanchard

Princeton Professor Markus Brunnermeier and former IMF chief economist Olivier Blanchard discuss the impact of the current global health crisis on public finances and policy...

Is Monetary Policy Independence Out of Date? A Mini-Course With Paul Tucker (Part 3)

The Federal Reserve and the ECB have been taking unprecedented steps to react to the financial impact of Covid-19. To frame the debate around the...

Stick, Carrot, and Evergreen Loans: A Policy Proposal to Save Small and Medium-Sized Firms

Restaurant owners, retailers, and the like employ more than 50 percent of the US workforce, yet neither have cash buffers nor access to Federal Reserve support. In...

How to Interpret Financial Market Movements to Predict the Impact of Coronavirus on GDP

Equity markets in the EU and US dropped by as much as 30 percent, which means that investors have revised downward their estimate of...

How Covid-19 Infected Global Financial Markets: a Webinar

Princeton Professor Markus Brunnermeier and Torsten Slok, Chief Economist for Deutsche Bank Securities, discuss what happened during Wall Street's worst week since the 2008...

A Former Central Banker Tells Other Central Bankers: “Stay Away From Davos”

In an interview with ProMarket, former Bank of England deputy governor Sir Paul Tucker explains why the “unelected power” of central bankers threatens our...

The Only Game in Town: Central Banking as False Hope

To accompany Paul Tucker’s mini-course at the Stigler Center this week, we offer here an extract of the former Bank of England Deputy Governor’s...

"The Blockchain Is Going to Revolutionize Central Banking and Monetary Policy"

Will governments start using central banks to issue sovereign currency on blockchains? And if so, will that be the end of the fractional reserve...

LATEST NEWS

Can Covid-19 Erode Young Individuals’ Trust in Politics for Decades to Come?

A new study shows that exposure to an epidemic during one's “impressionable years” (18-25) has a persistent negative effect on trust in...

The United States: An Exceptional Case? A Webinar With Stephen Haber, Richard R. John, and Luigi Zingales

Many see the US as a land where free markets and antitrust enforcement have historically kept monopolies under control. But is that...

Bethany McLean’s Fourth of July Weekend Reading List: Jeff Bezos, Homeschooling, and How to Make Capitalism Work for All

Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean. 

Lifting Lockdown Measures Won’t Bring Back Lost Jobs, New Study Suggests

A new paper examines data on local outbreaks in South Korea and finds that even in the absence of lockdowns, an increase...

What Comes Next for Economic Policies to Combat Covid-19? A Conversation Between Six Booth Faculty

As the Covid-19 crisis evolves from a temporary shock into what seems like a long-term catastrophe, six finance scholars from Chicago Booth—Douglas...