Ending "too big to fail": What's the right approach?
As I’ve already suggested, if major structural changes in the banking system are necessary to avoid another crisis, to promote financial stability, and to control moral hazard and excessive risk-taking, then we should all be for making the changes. However, the forced breakup of large firms, say through the imposition of arbitrary limits on assets, doesn’t seem to be a smart way to achieve those o
What tools does the Fed have left? Part 3: Helicopter money
“Let us suppose now that one day a helicopter flies over this community and drops an additional $1,000 in bills from the sky, which is, of course, hastily collected by members of the community. Let us suppose further that everyone is convinced that this is a unique event which will never be repeated.” (Milton Friedman, “The Optimum Quantity of Money,” 1969) “The deflation speech saddled me with th
China’s trilemma—and a possible solution
China’s central banker, Zhou Xiaochuan of the People’s Bank of China (PBOC), and other top Chinese officials recently launched a communications offensive to persuade markets and foreign policymakers that no significant devaluation of the Chinese currency is planned.[1] Is the no-devaluation strategy a good one for China? If it is, what does China need to do to make its exchange-rate commitments cr
233 j. bradford delong University of California, Berkeley lawrence h. summers Harvard University Fiscal Policy in a Depressed Economy ABSTRACT In a depressed economy, with short-term nominal interest rates at their zero lower bound, ample cyclical unempl
233 j. bradford delong University of California, Berkeley lawrence h. summers Harvard University Fiscal Policy in a Depressed Economy ABSTRACT In a depressed economy, with short-term nominal interest rates at their zero lower bound, ample cyclical unemployment, and excess capac- ity, increased government purchases would be neither offset by the monetary authority raising interest rates nor neutra
U.S. Policy: Balancing in Asia, and Rebalancing to Asia | Brookings Institution
India-U.S. Policy Memo | September 2014 U.S. Policy: Balancing in Asia, and Rebalancing to Asia By: Jeffrey A. Bader In this India-U.S. Policy Memo , Jeffrey Bader lays out the fundamental elements of the Obama administration’s “rebalancing” policy in the Asia-Pacific region, highlighting the frictions among its goals. He also considers the U.S. relationship with China, as well as the developments
Billionaires | Brookings
What is the value of dynamic scoring for legislators?
Microsoft Word - disparities - wpready
Effects of Growing Wage Disparities and Changing Family Composition on the U.S. Income Distribution Gary Burtless … Center on Social and Economic Dynamics Working Paper No. 4 July 1999 ABSTRACT U.S. income inequality soared after 1979. Most economists recognize that growing wage inequality was at least partially responsible for this trend. The present paper estimates the contribution of increas
Womenomics 2.0: The potential of female entrepreneurs in Japan | Brookings
What is the value of dynamic scoring for legislators?
The big picture: Debating China’s rebalancing
Few words are more frequently mentioned in the context of China’s economic reform agenda than “rebalancing”. What will a rebalanced Chinese economy look like? Has the Chinese leadership come to grips with sources of resistance to change? What is the likely balance and sequencing of local government, banking, exchange rate, and environmental and judicial reform? Two leading analysts of China’s econ
The believer: How Abu Bakr al-Baghdadi became leader of the Islamic State
September 1, 2015 قراءة المقال باللغة العربيةread essay in arabic Ibrahim Awwad Ibrahim al-Badri was born in 1971 in Samarra, an ancient Iraqi city on the eastern edge of the Sunni Triangle north of Baghdad. The son of a pious man who taught Quranic recitation in a local mosque, Ibrahim himself was withdrawn, taciturn, and, when he spoke, barely audible. Neighbors who knew him as a teenager rememb
Six Myths in the New York Times Math Article by Elizabeth Green
Source: Table 5.11, IEA Third International Mathematics and Science Study (TIMSS), 1994-1995, page 160. Note that the data support the view that eighth grade Japanese teachers emphasize reasoning more often than U.S. teachers. But the data also suggest that the difference can only explain a trivial amount of the Japan-U.S. test score gap. The gap hovers around 100 points across response categori
Expectations of sustained effects from scaled up pre-K: Challenges from the Tennessee study
Executive Summary State investments in center-based school readiness programs for preschoolers (pre-K), whether targeted for poor children or universally implemented, have expanded more rapidly than evaluations of their effects. Given the current interest and continuing expansion of state funded pre-K, it is especially important to be clear about the nature of the available evidence for the effect
My Ukraine: A personal reflection on a nation’s dream of independence and the nightmare Vladimir Putin has visited upon it
A personal reflection on a nation's dream of independence and the nightmare Vladimir Putin has visited upon it. May 12, 2015 On March 24 last year, I was in my Toronto kitchen preparing school lunches for my kids when I learned from my Twitter feed that I had been put on the Kremlin's list of Westerners who were banned from Russia. This was part of Russia's retaliation for the sanctions the United
Bad News for Egypt's Muslim Brotherhood
You would never know there had been a revolution. Within the slightly grimy walls of Egypt’s state-owned media buildings, it’s business as usual. Observers would be forgiven for thinking the state television and papers are there largely as a public address system for whoever actually has their hands on the country’s steering wheel. Over the 30 years leading up to the 2011 popular uprising, state m
How Unified is the G-20?
How cohesive is the G-20 as a group? Can it be divided along the lines of the West and the BRICS (Brazil, Russia, India, China and South Africa)? At the summit in Brisbane, the G-20 will discuss growth strategies, the gender income gap, development policy, global institutions, energy and other issues. But what about the controversial topics of international order that are not on the agenda? The Br
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How Xi Jinping sees the world ... and why | Brookings
https://www.brookings.edu/wp-content/uploads/2016/03/CavalloEtAl_InflationExpectationsArgentina_ConferenceDraft.pdf
https://www.brookings.edu/wp-content/uploads/2016/07/Solving-journalisms-hidden-problem.pdf
Rethinking Political Islam
Janet Yellen´s Inequality Speech Revealed a "Closet Conservative"
