Category Archives: 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
Take Off the Muzzle and the Economy Will Roar
In his Saturday Wall Street Journal essay “Why the Economy Doesn’t Roar Anymore”—illustrated with a big lion with its mouth shut—Marc Levinson offers the answer that the “U.S. economy isn’t behaving badly. It is just being ordinary.” But there is … Continue reading
Novel Research on Elections, Policymaking, Economic Uncertainty
The Becker Friedman Institute of the University of Chicago and the Hoover Institution of Stanford University teamed up yesterday to put on a Conference on Elections, Policymaking, and Economic Uncertainty. The conference was held at the Hoover Institution Offices in … Continue reading
Desperately Needed: Reforms to Raise Productivity Growth
The data released this week on labor productivity growth are really terrible. The growth rate has been negative now for three quarters in a row, and it was – .4 percent over the past year. Unfortunately, these data are reinforcing … Continue reading
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
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
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Whither Economic Freedom Post-Brexit?
As events are turning out, the Brexit decision is providing an opening to revive a trend toward economic freedom and thus stronger economic growth. But will the UK leadership and their counterparts in the EU and the US take that … Continue reading
Solid Economic Support for Sensible Financial Reforms
Economic research, including work in the 1970s on time inconsistency, has long provided a rationale for central bank independence in conducting monetary policy. Indeed, the research encouraged the spread of central bank independence and inflation targeting around the world in … Continue reading
Posted in Monetary Policy, Regulatory Policy
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New Book on Fed Oversight Reform
Recent legislation to rein in Fed power, including the Fed Oversight Reform and Modernization (FORM) Act, has generated a load of opinion pieces and acrimonious debate, but so far little in the way of in-depth policy research. The purpose of the … Continue reading
Posted in Monetary Policy, Regulatory Policy
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An Economic Policy–Performance Cycle
For several years I have writing about an cycle in which economic policy swings toward and away from certain key principles of economic freedom. The poor performance of the U.S. economy during the past decade —the Great Recession, the Not-So-Great … Continue reading
Economics One 