Category Archives: Financial Crisis

An Economic and Security Policy Blueprint for America

A timely new policy book, Blueprint for America, edited by George P. Shultz, is being released today online for the first time. The release coincides with the start of platform writing by Republicans this week and Democrats the following week, … Continue reading

Posted in Budget & Debt, Financial Crisis, Fiscal Policy and Reforms, International Economics, Monetary Policy, Regulatory Policy

Now is the Time for “Chapter 14” Bankruptcy Reform

Yesterday a “Chapter 14” bankruptcy reform passed the House of Representatives as Title XI (The Financial Institution Bankruptcy Act) of the Appropriations Bill on Financial Services and General Government.  This is a very promising development. The reform would largely end … Continue reading

Posted in Financial Crisis, Regulatory Policy

Other Economic Lessons the US Can Learn from Greece

Last week the Senate Foreign Relations Subcommittee on Europe and Regional Security Cooperation held a hearing for which I was asked to address the lessons that the United States can learn from the Greek financial crisis.  One obvious lesson is … Continue reading

Posted in Financial Crisis, Regulatory Policy, Slow Recovery

Make Failure Feasible and End “Too Big To Fail”

Today the Senate held a hearing on a bankruptcy reform proposal which would address the problem of too-big-to-fail head on. The reform applies to large financial firms and makes failure feasible under clear rules without systemic spillovers thereby greatly reducing … Continue reading

Posted in Financial Crisis, Regulatory Policy

A Deal and a Step to International Monetary Reform

I make the case in this Wall Street Journal piece and in more detail in Congressional testimony that there’s an opportunity for a deal between the Congress and the Administration on international monetary reform.  The case starts with perhaps the … Continue reading

Posted in Financial Crisis, International Economics

Surprising Findings at the Macro Handbook Conferences

In order to further progress on the new Handbook of Macroeconomics, which will be published next year, Harald Uhlig and I, the co-editors of the Handbook, hosted two conferences at Stanford and Chicago in April. Harald and I attended both … Continue reading

Posted in Budget & Debt, Financial Crisis, Fiscal Policy and Reforms, International Economics

Across the Great Divide: New Perspectives on the Financial Crisis

A year ago today, the Hoover Institution and the Brookings Institution held an unusual joint conference on the financial crisis, where twenty-four economists and legal scholars reexamined the crisis, its effect on the US economy, and possible policy reforms. The … Continue reading

Posted in Financial Crisis, Slow Recovery