Central banks

Central Bankers Face Potential Conflict of Interest When Writing About QE Policies

As Quantitative Easing makes a return during the global Covid-19 pandemic, its effectiveness has once again come under intense debate in both...

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Is Monetary Policy Independence Out of Date?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...

LATEST NEWS

President-Elect Joe Biden and the Real Lessons of DuPont

Simply talking corporate America into being more responsible is not enough. It may get corporations to talk the talk, but not to...

How Companies Spin Off Environmental Liabilities to Avoid Legal Obligations

Environmental externalities are vexing for corporate decision makers, but some companies have figured out a way to deal with them: a spinoff....

How Pfizer’s Vaccine Announcement Demonstrates the Political Power of Firms

By timing the disclosure of the results of its vaccine trial, Pfizer could have influenced the 2020 presidential election. This is worrisome...

The Useful Distraction of Section 230

How the red-herring of a politicized Section 230 and “conservative censorship” distracts from a bipartisan national privacy act.

Institution Man: How Corporations Came to Dominate the US Economy

In the first chapter of his book Transaction Man, Nicholas Lemann explores how Adolf Berle, author of The Modern Corporation and Private...