Category Archives: Financial Crisis

Econ 1, Tiger Woods, and the Crisis@10

Today is the first day of the fall quarter at Stanford, and I begin teaching Economics 1, the introductory economics course, and the course after which this blog is named. The first day is always exciting, especially with many first-year … Continue reading

Posted in Financial Crisis, Monetary Policy, Slow Recovery, Teaching Economics

Turkey Tantrum Contagion Not Automatic, Rather Policy Dependent

Many have been talking about possible international contagion of the financial crisis in Turkey, and Peter Coy touched on the key issues in yesterday’s Bloomberg piece. Recent economic history and theory offer powerful lessons about contagion. Most important is that … Continue reading

Posted in Financial Crisis, Monetary Policy, Teaching Economics

Happy New Decade!

The Great Recession began exactly one decade ago this month, as later determined by the NBER business cycle dating committee chaired by my colleague, Bob Hall. There is still a great debate about the causes of the Great Recession, its … Continue reading

Posted in Financial Crisis, Slow Recovery, Teaching Economics

Debate Over the Very Principles of Economics

Today is the launch of the online version of my Economics 1 course (and namesake of this Blog and my Twitter handle) on the Principles of Economics for summer 2017. This year is also the tenth anniversary of the start … Continue reading

Posted in Financial Crisis, Teaching Economics

Reserve Balances and the Fed’s Balance Sheet in the Future

An important part of the Fed’s normalization policy is to reduce its holdings of securities and thereby reserve balances—deposits of banks at the Fed—used to finance these holdings. As I argued when quantitative easing began in 2009, this reduction should … Continue reading

Posted in Financial Crisis, Monetary Policy, Regulatory Policy

It’s Time to Pass the Financial Institutions Bankruptcy Act

Today the House Judiciary Subcommittee lead by Tom Marino held a hearing on the Financial Institution Bankruptcy Act (FIBA) which lays out in clear legislative language the “Chapter 14 type” reform proposals that Stanford’s Hoover Resolution Project have been working … Continue reading

Posted in Financial Crisis, Regulatory Policy

A World Cup in the Battle of Ideas

Markus Brunnermeier, Harold James and Jean-Pierre Landau have just published a fascinating book, The Euro and the Battle of Ideas, in which they bring together their respective skills in economic theory, economic history and economic policy to bear on one … Continue reading

Posted in Financial Crisis, International Economics, Monetary Policy, Regulatory Policy